Segmentation & Targeting
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Segmentation & Targeting
- 1. Segmentation –Targeting - Positioning Marketing Strategy 1
- 3. 3 Who is your product for?
- 4. 4
- 5. A Three-Step Approach Segmentation The process of identifying a group of customers who share at least one characteristic that will make them more responsive to our marketing message Targeting The process by which we locate and describe specific groups of customers who we hypothesize are most likely to be interested in obtaining the benefits we offer through products and services Positioning Develop an offer tailored to the chosen target and develop the correspondent marketing mix 5
- 6. Get to know your customer 6
- 7. Market Segmentation in B2C Markets Market segmentation divides a market into well-defined slices. A market segment consists of a group of customers who share similar set of needs and wants 7
- 8. B2C Segmentation Main Variables Geographic Demographic Psychographic Behavioral Region Age Lifestyle Occasions Living Area Gender Personality Benefits City Size Family size User Status Climate Family life cycle Usage Rate Income Loyalty Occupation Brand Relationship Education Religion Race Generation Nationality 8
- 9. B2C Segmentation Main Variables Geographic Region Ile-de-France, East, West, Marseille Living Area Rural area/Urban area, Downtown/Suburbs Area Size Less than 2000 residents, 2000 to 4999, 5000 to 9999, 10000 to 19999… Climate Tropical, Dry, Moderate, Continental… 9
- 10. B2C Segmentation Main Variables 10 Demographic Age less than 6 years old, 6-11 Gender male, female Family Size 1, 2, 3, 4, 5 and more Family life cycle young, single; young, married, no kids; young, married, at least 1 child under 6 years old; old, married, with children; old, married, children above 18; old, single; others Income less than 10000€, 10000-14999€ Occupation farmers, workers, CEO, professors Education bachelor, master, PhD… Religion Catholic, Jewish… Race American Indian, white, black Generation Baby-boomer, generation X, Y Nationality French, Italian, Lebanese
- 11. Example 11
- 14. B2C Segmentation Main Variables 14 Psychographic Lifestyle Activities, Interests, Opinions (AIO) Personality Authoritarian, introverted..
- 15. Psychographic Segmentation AIO (Lifestyle Dimensions) 15 Activities Interests Opinions Demographics Work Family Themselves Age Hobbies Home Social issues Education Social Events Job Politics Income Vacation Community Business Occupation Entertainment Recreation Economics Family size Club membership Fashion Education Dwelling Community Food Products Geography Shopping Media Future City size Sports Achievements Culture Stage in life cycle
- 17. Psychographic Segmentation VALS2 Take the survey: http://www.strategicbusinessinsights.com/vals/p resurvey.shtml 17
- 18. B2C Segmentation Main Variables 18 Behavioral Occasions Special situation, ordinary situation… Benefits Saving, convenience, prestige… User status Non-user, ex-user, potential user, first time user, regular user Usage rate Small user, average user, heavy user Loyalty None, moderate, strong, total Product relationship Just Know the brand, interest, buying intention…
- 19. Market Segmentation in B2B Markets Demographic: industry, company size, location Operating Variables: technology, user status, customer capabilities Purchasing Approach: power structure, nature of existing relationship Situational Factors: urgency, specific application, size of order Personal Characteristics: buyer-seller similarity, loyalty, risk attitude 19
- 20. Market Segmentation in B2B Markets 20 Macrosegments Identification Cut into microsegments Industry Purchasing process Company size Decision maker in the purchasing department Usage rate Benefits Geographical location Product importance
- 21. Steps in Segmentation Process 21 Step Description 1. Needs-Based Segmentation Group customers into segments based on similar needs and benefits sought by customer in solving a particular consumption problem 2. Segment Identification For each needs-based segment, determine which demographics, lifestyles, and usage behaviors make the segment distinct and identifiable (actionable) 3. Segment Attractiveness Using predetermined segment attractiveness criteria (such as market growth, competitive intensity, and market access), determine the overall attractiveness of each segment 4. Segment Profitability Determine segment profitability 5. Segment Positioning For each segment, create a ‘value proposition” and product-price positioning strategy based on that segment’s unique customer needs and characteristics
- 23. Evaluating and Selecting Segments 23 Full market coverage Multiple segment specialization Single-segment concentration
- 29. Example 29 Variation in Product, Price, Promotion & Place
- 31. 31 M1 M2 M3 P1 P2 P3 Selective Specialization
- 32. 32 M1 M2 M3 P1 P2 P3 Product Specialization
- 33. 33 M1 M2 M3 P1 P2 P3 Market Specialization
- 37. 37
- 38. Thank you 38
Hinweis der Redaktion
- Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mix
- Demographic segmentation divides the market on variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, and social class. Demographic variables are often associated with consumer needs and wants and are easy to measure.
- Psychographics is the science of using psychology and demographics to better understand consumers. In psychographic segmentation, buyers are divided into different groups on the basis of psychological/personality traits, lifestyle, or values. People within the same demographic group can exhibit very different psychographic profiles.
- This table lists many of the dimensions used in psychographic research.
- The Values and Lifestyles System (VALS2) was developed by the company Strategic Business Insights (SBI). The survey used to collect data contains 39 items. These items are used to divide the U.S. adult population into groups. The figure shows the groups. The typology is divided based on resources on one axis and self-orientation on the other. Innovators are successful consumers with many resources. Thinkers are satisfied, reflective, and comfortable. Achievers are career oriented and prefer predictability to risk or self-discovery. Experiencers are impulsive, young, and enjoy offbeat or risky experiences. The next four groups have fewer resources: Believers have strong principles and favor proven brands. Strivers are similar to Achievers but have fewer resources. Makers are action oriented and tend to focus their energies on self-sufficiency. Strugglers are at the bottom of the economic ladder. Three self-orientations constitute the horizontal dimension. Consumers with an Ideals orientation rely on a belief system to make purchase decisions, and they are not concerned with the views of others. People with an Achievement orientation are more competitive; they take into account what their peers will think about their decisions and how these choices will reflect on them. Finally, those with a Self-Expression orientation are more concerned with the emotional aspects of purchases and the satisfaction they will personally receive from products and services.
- It lists major questions that business marketers should ask in determining which segments and customers to serve. A rubber-tire company can sell tires to manufacturers of automobiles, trucks, farm tractors, forklift trucks, or aircraft. Within a chosen target industry, it can further segment by company size and set up separate operations for selling to large and small customers. Business marketers generally identify segments through a sequential process. Consider an aluminum company: The company first undertook macrosegmentation. It looked at which end-use market to serve: automobile, residential, or beverage containers. It chose the residential market, and it needed to determine the most attractive product application: semifinished material, building components, or aluminum mobile homes. Deciding to focus on building components, it considered the best customer size and chose large customers. The second stage consisted of microsegmentation. The company distinguished among customers buying on price, service, or quality. Because it had a high-service profile, the firm decided to concentrate on the service-motivated segment of the market.
- Measurable. The size, purchasing power, and characteristics of the segments can be measured. Substantial. The segments are large and profitable enough to serve. A segment should be the largest possible homogeneous group worth going after with a tailored marketing program. It would not pay, for example, for an automobile manufacturer to develop cars for people who are less than four feet tall. Accessible. The segments can be effectively reached and served. Differentiable. The segments are conceptually distinguishable and respond differently to different marketing-mix elements and programs. If married and unmarried women respond similarly to a sale on perfume, they do not constitute separate segments. Actionable. Effective programs can be formulated for attracting and serving the segments.
- This figure shows that marketers have a range or continuum of possible levels of segmentation that can guide their target market decisions.
- Full market coverage: a firm attempts to serve all customer groups with all the products they might need. Undifferentiated or mass marketing, the firm ignores segment differences and goes after the whole market with one offer. Differentiated marketing, the firm sells different products to all the different segment of the market. Multiple Segment Specialization: With selective specialization, a firm selects a subset of all the possible segments, each objectively attractive and appropriate. A supersegment is a set of segments sharing some exploitable similarity. A firm can also attempt to achieve some synergy with product or market specialization. product specialization, the firm sells a certain product to several different market segments. market specialization, the firm concentrates on serving many needs of a particular customer group, such as by selling an assortment of products only to university laboratories. Single-segment concentration: the firm markets to only one particular segment. Porsche concentrates on the sports car market and Volkswagen on the small-car market. A niche is a more narrowly defined customer group seeking a distinctive mix of benefits within a segment. Individual Marketing: “segments of one,” “customized marketing,” or “one-to-one marketing.” 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.
- The firm attempts to serve all customer groups with all the products they might need. Only very large firms such as Microsoft, General Motors, and Coca-Cola.. Can undertake a full market coverage strategy.
- Undifferentiated or mass marketing, the firm ignores segment differences and goes after the whole market with one offer. Undifferentiated marketing is appropriate when all consumers have roughly the same preferences and the market shows no natural segments.
- Differentiated marketing, the firm sells different products to all the different segment of the market.
- the firm sells a certain product to several different market segments. A microscope manufacturer, for instance, sells to university, government, and commercial laboratories, making different instruments for each and building a strong reputation in the specific product area. The downside risk is that the product may be supplanted by an entirely new technology.
- the firm concentrates on serving many needs of a particular customer group, such as by selling an assortment of products only to university laboratories. The firm gains a strong reputation among this customer group and becomes a channel for additional products its members can use. The downside risk is that the customer group may suffer budget cuts or shrink in size.
- Single-segment concentration: the firm markets to only one particular segment. Porsche concentrates on the sports car market and Volkswagen on the small-car market. the firm gains deep knowledge of the segment’s needs and achieves a strong market presence. It also enjoys operating economies by specializing its production, distribution, and promotion. If it captures segment leadership, the firm can earn a high return on its investment. A niche is a more narrowly defined customer group seeking a distinctive mix of benefits within a segment.
- One-to-one marketing or customized marketing 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.