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    Topic 5 Market Segmentation

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    Janize Lee
    The document discusses market segmentation, targeting, and positioning. It defines market segmentation as dividing the market into distinct groups with different needs that may require separate products or marketing mixes. There are several bases for segmentation including geographic, demographic, psychographic, and behavioral factors. The advantages of segmentation are that it allows companies to satisfy customer needs within a segment more efficiently. However, segmentation also increases costs. Market targeting involves evaluating segment size, growth, and attractiveness based on company objectives and resources to select which segments to target. Product positioning creates an image for the company and product in customers' minds based on attributes.

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    Topic 5 Market Segmentation

    Uploaded by

    Janize Lee
    24 views18 pages
    The document discusses market segmentation, targeting, and positioning. It defines market segmentation as dividing the market into distinct groups with different needs that may require separate products or marketing mixes. There are several bases for segmentation including geographic, demographic, psychographic, and behavioral factors. The advantages of segmentation are that it allows companies to satisfy customer needs within a segment more efficiently. However, segmentation also increases costs. Market targeting involves evaluating segment size, growth, and attractiveness based on company objectives and resources to select which segments to target. Product positioning creates an image for the company and product in customers' minds based on attributes.

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    Topic 5 Market Segmentation.ppt

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    The document discusses market segmentation, targeting, and positioning. It defines market segmentation as dividing the market into distinct groups with different needs that may require separate products or marketing mixes. There are several bases for segmentation including geographic, demographic, psychographic, and behavioral factors. The advantages of segmentation are that it allows companies to satisfy customer needs within a segment more efficiently. However, segmentation also increases costs. Market targeting involves evaluating segment size, growth, and attractiveness based on company objectives and resources to select which segments to target. Product positioning creates an image for the company and product in customers' minds based on attributes.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    24 views18 pages

    Topic 5 Market Segmentation

    Uploaded by

    Janize Lee
    The document discusses market segmentation, targeting, and positioning. It defines market segmentation as dividing the market into distinct groups with different needs that may require separate products or marketing mixes. There are several bases for segmentation including geographic, demographic, psychographic, and behavioral factors. The advantages of segmentation are that it allows companies to satisfy customer needs within a segment more efficiently. However, segmentation also increases costs. Market targeting involves evaluating segment size, growth, and attractiveness based on company objectives and resources to select which segments to target. Product positioning creates an image for the company and product in customers' minds based on attributes.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 18

    Market Segmentation

    The Process of Selecting Target Markets


     Market Segmentation

     Market Targeting

     Market Positioning
    Market Segmentation
    Definition
     Market Segmentation

    - Process of dividing the market into distinct groups of


    buyers with different needs, characteristics, or behaviour
    who might require separate products or marketing mixes.

    Mass Target
    Marketing Market

    Present
    Past
    Market Segmentation Bases
     No single way to segment a market
     Has to try different segmentation variables alone
     Geographic segmentation, demographic segmentation,
    psychographic segmentation, behavioural segmentation.
    Geographic Segmentation
     Basis of location
     Nations, regions, states, towns, cities, neighbourhoods
     Single area or a few chosen locations
     Based on the fact that buyers needs and patterns differ
    according to where they live
    Demographic Segmentation
     Personal characteristics, age, income, occupation, race,
    family life cycle
     Consumer needs vary closely with demographic variables
     Easiest way to measure the market.
     Age and Family Life Cycle
    - Needs and wants change as they progress from one stage
    of life to another
    - Different products for different age groups

     Gender
    - Has long been used in marketing of clothing, cosmetics,
    magazines
     Income
    - automobiles, boats, clothing, jewellery

     Psychographic Segmentation
    - Social class
    - Lifestyle
     Behavioural segmentation
    - Benefits
    - Usage rate
    Advantages of Market Segmentation
     Identify needs of customers within a sub market and satisfy
    those needs
     More efficient uses of marketing resources because limited
    resources might compete very effectively within one or twos
    segments
     Design product that really match the demands
     Promotional messages and media aimed specifically toward
    segment of the market
     Strong position built, rapid growth rate.
    Disadvantages of Market Segmentation
     Cost, more model sizes and others
     Higher inventory costs, stocks of different varieties, have
    to be kept
     Advertising cost high, different for different segments
     Management cost
    Market Targeting
    Market Targeting
     Segment Size and Growth
     Segment Attractiveness
     Company Objectives and Resources
    Selecting Market Segments
     Three Strategies can be employed:

    1) UndifferentiatedMarketing
    2) Differentiated Marketing
    3) Concentrated Marketing (Niche)
    Product Positioning
    Product Positioning
     Means creating an image for company and product in the
    mind of customers

     Positioning attributes
    - Products
    - Service
    - Personnel
    - Location
    - Image
    Expensive

    Europe
    Australia

    infrastructure Low
    Infrastructure
    High

    Ho Chi Minh City


    Singapore

    Economical

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