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Market Segmentation
Dividing a market into smaller groups with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes, and there are 4 market segmentation.
Market Segmentation
1.Geographic segmentation -Region : -Nation :
-City :
Market Segmentation
2. Demographic segmentation
Such as
-Age :
-Gender :
Market Segmentation
3. Psychographic segmentation
Such as
-Lifestyle :
-Social class :
Market Segmentation
4. Behavioral segmentation
Such as
-Occasion :
-Benefit :
Market Segmentation
4. Behavioral segmentation -User status :
Market Segmentation
Intermarket segmentation:
Forming segments of consumers who have similar needs and buying behavior even though they are located in different countries. Examples:
Coca-Cola:Worlds teen
Market Targeting
A set of buyers sharing common needs or characteristics that the company decides to serve.
Market Targeting
Evaluating Market Segment by 3 factors - Segment size and growth - Segment structural attractiveness - Company objectives and resources
Market Targeting
Selecting Target Market Segments There are 4 strategies. -Undifferentiated marketing -Differentiated marketing -Concentrated marketing -Micromarketing
Salt
Sugar
Water
for running
basketball
fashion
Micromarketing:
Micromarketing
Local Marketing:
Tailoring brands and promotions to the needs and wants of local customer groups.
Micromarketing
Individual Marketing: marketing programs
to the needs and preferences of individual customers.
Product Positioning
Example
Nissan March : economy
Mercedes : luxury
Product Positioning
Example
BMW : performance
Volvo : safety
Expertise Performance
Video
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