Marketing Management ppt Document

1. MARKETING MANAGEMENT
Identifying Market
Segments and Targets

2. Chapter Questions
What are the different levels of market
segmentation?
How can a company divide a market into
segments?
How should a company choose the most
attractive target markets?
What are the requirements for effective
segmentation?
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3. Effective Targeting Requires…
Identify and profile distinct groups of
buyers who differ in their needs and
preferences.
Select one or more market segments to
enter.
Establish and communicate the distinctive
benefits of the market offering.
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4. Four Levels of Micromarketing
Segments
Niches
Local areas
Individuals
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5. Segment Marketing
Targeting a group of customers
who share a similar set of
needs and wants.
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6. Flexible Marketing Offerings
Naked solution Discretionary options
Product and Some segment
service elements members value
that all segment Options may carry
members value additional charges
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7. The Experience Economy
Experience
Services
Goods
Commodity
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8. Customerization
Combines operationally driven
mass customization with customized
marketing in a way that empowers
consumers to design the
product and service offering
of their choice.
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9. Business Buying Behaviour

10. Buying Decision Process
Buying Process the decision-making process by 'which
business buyers establish the need/or purchased products
and services, and identify, evaluate and, choose among
alternative brands and suppliers.

11. Segmenting Consumer Markets
Geographic
Demographic
Psychographic
Behavioral
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12. Factors influencing the Buying Behaviour

13. Demographic Segmentation
Age and Life Cycle
Life Stage
Gender
Income
Generation
Social Class
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14. Figure 8.3
Profiling American Generations
GI Generation Generation X
1901-1924 1965-1977
Silent Generation Generation Y
1925-1945 1978-1994
Baby Boomers Millenials
1946-1964 1995-2002
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15. Behavioral Segmentation
Decision Roles Behavioral Variables
Initiator Occasions
Influencer Benefits
Decider User Status
Buyer Usage Rate
User Buyer-Readiness
Loyalty Status
Attitude
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16. Segmenting for Business Markets
Demographic
Operating Variable
Purchasing Approaches
Situational Factors
Personal Characteristics
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17. Models of Sequential Segmentation
Stage of decision Orientation
First-time prospects Price-oriented
Novices Solution-oriented
Sophisticates Strategic-value
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18. Steps in Segmentation Process
Needs-based segmentation
Segment identification
Segment attractiveness
Segment profitability
Segment positioning
Segment acid test
Marketing mix strategy
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19. Effective Segmentation Criteria
Measurable
Substantial
Accessible
Differentiable
Actionable
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