logging in or signing up segtar Davidson Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINTLite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 4579 Category: Entertainment License: All Rights Reserved Like it (6) Dislike it (0) Added: November 15, 2007 This Presentation is Public Favorites: 1 Presentation Description No description available. Comments Posting comment... By: krishnaprajapat (14 month(s) ago) good Saving..... Post Reply Close Saving..... Edit Comment Close By: prashnatdave205 (15 month(s) ago) nice Saving..... Post Reply Close Saving..... Edit Comment Close By: kanisbm (20 month(s) ago) plz send me this ppt i need it very badely Saving..... Post Reply Close Saving..... Edit Comment Close By: lianshuang (25 month(s) ago) thank you very much Saving..... Post Reply Close Saving..... Edit Comment Close By: puneetiimt09 (26 month(s) ago) plss send me dis ppt ..i need dat for sessnls... Saving..... Post Reply Close Saving..... Edit Comment Close loading.... See all Premium member Presentation Transcript MARKET SEGMENTATION & TARGETING : MARKET SEGMENTATION & TARGETING TARGET MARKETING Major Steps: TARGET MARKETING Major Steps Segmenting Targeting PositioningTARGET MARKETING Major Steps: TARGET MARKETING Major Steps Segmenting Targeting PositioningMARKET SEGMENTATION: MARKET SEGMENTATION The act of dividing a market into distinct groups of buyers who (1) have common needs & (2) will respond similarly to a marketing action. Process: Identify segmentation variables Segment market Develop profiles of segments Slide5: NOTES Segmentation Variables can be loosely defined as any data that can be converted into decision information to better direct market your product, idea, service. Some of the elements of the database are solely for this purpose--the complimentary data also helps us plan, implement, and control.SEGMENTATION BASES: SEGMENTATION BASES Geographic Region County Size ZIPCODE Demographic Age Sex Family Size, etc.SEGMENTATION BASES: SEGMENTATION BASES Psychographic Social Class Lifestyle Personality Behavioral Usage Rate (Light to Heavy) Loyalty Buying ResponsesSEGMENTATION BASES: SEGMENTATION BASES Benefit Attributes Sought Example: Toothpaste Market Fluoride Freshens Breath Tartar Control Plaque Reduction WhiteningGEOGRAPHIC: GEOGRAPHICDEMOGRAPHIC: DEMOGRAPHIC PSYCHOGRAPHICS: PSYCHOGRAPHICS BEHAVIORAL : BEHAVIORAL Ex.: Usage RateBENEFIT SOUGHT: BENEFIT SOUGHT Toothpaste Ex.: Fluoride & Tartar ControlEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Substantiality Accessibility ActionabilityEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Degree to which size & purchasing power of segments can be measured. Slide16: Notes Later, we will see some of these as ways to develop life time usage, etc.EFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Substantiality Accessibility ActionabilityEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Substantiality Degree to which segments are large and/or profitable enough EFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Substantiality Accessibility ActionabilityEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Accessibility Degree to which segments can be effectively reached and served Slide21: Notes AHHHHHHHH-----Maybe Direct Marketing.EFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Substantiality Accessibility ActionabilityEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Actionability Degree to which effective programs can be formulated for attracting and serving the segments Slide24: Notes Maybe--Direct Marketing?????????EFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Let’s Review: Measurability Substantiality Accessibility ActionabilityTARGET MARKETING Major Steps: TARGET MARKETING Major Steps Segmenting Targeting PositioningMARKET TARGETING: MARKET TARGETING The act of developing measures of segment attractiveness and determining number of segments to enter. Process: Evaluate attractiveness of segments Select target segment(s) EVALUATING MARKET SEGMENTS : EVALUATING MARKET SEGMENTS Three Factors to Consider: Segment Size & Opportunities for Growth Segment Structural Attractiveness (Competition) Company Objectives & ResourcesEVALUATING MARKET SEGMENTS : EVALUATING MARKET SEGMENTS Segment Size & Opportunities for Growth Is the segment the right size? Large versus Small Does segment have right growth characteristics? Sales ProfitsEVALUATING MARKET SEGMENTS : EVALUATING MARKET SEGMENTS Segment Structural Attractiveness (Competition): Potential Entrants Industry Competitors Substitutes Buyers Suppliers EVALUATING MARKET SEGMENTS : EVALUATING MARKET SEGMENTS Company Objectives & Resources (firm’s ability to compete) Do segments mesh with company’s long-run objectives? Will segments move company toward its goals? Does company possess skills & resources to succeed in segment? Can company develop some superior advantage to competition?SELECTING MARKET SEGMENTS: SELECTING MARKET SEGMENTS Selecting one or more segments worth entering. Concentrated Approach Undifferentiated Approach Differentiated ApproachCONCENTRATED APPROACH: CONCENTRATED APPROACH Select a single segment & develop a single marketing mix for that segment. Company hopes to capture a large share of this marketing) Ex. 1950s Volkswagen only major automobile company competing in the economy car segment in the U.S. Slide34: P P P PUNDIFFERENTIATED APPROACH: UNDIFFERENTIATED APPROACH Referred to as Mass Marketing Ignores segments differences & offers one product/service to entire market. Assumes all consumers are similar and will respond similarly to a single marketing mix Good for homogeneous markets Good when competition is minimal or nonexistent Ex. Henry Ford’s Black Model TUNDIFFERENTIATED OR COMBINED STRATEGY: UNDIFFERENTIATED OR COMBINED STRATEGY P P P P DIFFERENTIATED APPROACH: DIFFERENTIATED APPROACH Attempts to reach all or most market segments by developing a unique marketing mix for each segment. Allows tailoring to specific market segments needs. DIFFERENTIATED APPROACH: DIFFERENTIATED APPROACH SEGMENT 1 SEGMENT 2 SEGMENT 3 SEGMENT 4 SEGMENT 5 P P P P P P P PMULTISEGMENT TARGETING BENEFITS: MULTISEGMENT TARGETING BENEFITS Potentially Greater Sales Volume Higher Profits Larger Market Share Economies of Scale in: manufacturing marketingMULTISEGMENT TARGETING COSTS: MULTISEGMENT TARGETING COSTS Production Design Costs Production Costs Promotion Costs Inventory Costs Market Research Costs Management Costs CannibalizationTARGET MARKETING Major Steps: TARGET MARKETING Major Steps Segmenting Targeting Positioning (to be discussed later) You do not have the permission to view this presentation. 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segtar Davidson Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINTLite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 4579 Category: Entertainment License: All Rights Reserved Like it (6) Dislike it (0) Added: November 15, 2007 This Presentation is Public Favorites: 1 Presentation Description No description available. Comments Posting comment... By: krishnaprajapat (14 month(s) ago) good Saving..... Post Reply Close Saving..... Edit Comment Close By: prashnatdave205 (15 month(s) ago) nice Saving..... Post Reply Close Saving..... Edit Comment Close By: kanisbm (20 month(s) ago) plz send me this ppt i need it very badely Saving..... Post Reply Close Saving..... Edit Comment Close By: lianshuang (25 month(s) ago) thank you very much Saving..... Post Reply Close Saving..... Edit Comment Close By: puneetiimt09 (26 month(s) ago) plss send me dis ppt ..i need dat for sessnls... Saving..... Post Reply Close Saving..... Edit Comment Close loading.... See all Premium member Presentation Transcript MARKET SEGMENTATION & TARGETING : MARKET SEGMENTATION & TARGETING TARGET MARKETING Major Steps: TARGET MARKETING Major Steps Segmenting Targeting PositioningTARGET MARKETING Major Steps: TARGET MARKETING Major Steps Segmenting Targeting PositioningMARKET SEGMENTATION: MARKET SEGMENTATION The act of dividing a market into distinct groups of buyers who (1) have common needs & (2) will respond similarly to a marketing action. Process: Identify segmentation variables Segment market Develop profiles of segments Slide5: NOTES Segmentation Variables can be loosely defined as any data that can be converted into decision information to better direct market your product, idea, service. Some of the elements of the database are solely for this purpose--the complimentary data also helps us plan, implement, and control.SEGMENTATION BASES: SEGMENTATION BASES Geographic Region County Size ZIPCODE Demographic Age Sex Family Size, etc.SEGMENTATION BASES: SEGMENTATION BASES Psychographic Social Class Lifestyle Personality Behavioral Usage Rate (Light to Heavy) Loyalty Buying ResponsesSEGMENTATION BASES: SEGMENTATION BASES Benefit Attributes Sought Example: Toothpaste Market Fluoride Freshens Breath Tartar Control Plaque Reduction WhiteningGEOGRAPHIC: GEOGRAPHICDEMOGRAPHIC: DEMOGRAPHIC PSYCHOGRAPHICS: PSYCHOGRAPHICS BEHAVIORAL : BEHAVIORAL Ex.: Usage RateBENEFIT SOUGHT: BENEFIT SOUGHT Toothpaste Ex.: Fluoride & Tartar ControlEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Substantiality Accessibility ActionabilityEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Degree to which size & purchasing power of segments can be measured. Slide16: Notes Later, we will see some of these as ways to develop life time usage, etc.EFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Substantiality Accessibility ActionabilityEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Substantiality Degree to which segments are large and/or profitable enough EFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Substantiality Accessibility ActionabilityEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Accessibility Degree to which segments can be effectively reached and served Slide21: Notes AHHHHHHHH-----Maybe Direct Marketing.EFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Measurability Substantiality Accessibility ActionabilityEFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Actionability Degree to which effective programs can be formulated for attracting and serving the segments Slide24: Notes Maybe--Direct Marketing?????????EFFECTIVE SEGMENTATION REQUIRES: EFFECTIVE SEGMENTATION REQUIRES Let’s Review: Measurability Substantiality Accessibility ActionabilityTARGET MARKETING Major Steps: TARGET MARKETING Major Steps Segmenting Targeting PositioningMARKET TARGETING: MARKET TARGETING The act of developing measures of segment attractiveness and determining number of segments to enter. Process: Evaluate attractiveness of segments Select target segment(s) EVALUATING MARKET SEGMENTS : EVALUATING MARKET SEGMENTS Three Factors to Consider: Segment Size & Opportunities for Growth Segment Structural Attractiveness (Competition) Company Objectives & ResourcesEVALUATING MARKET SEGMENTS : EVALUATING MARKET SEGMENTS Segment Size & Opportunities for Growth Is the segment the right size? Large versus Small Does segment have right growth characteristics? Sales ProfitsEVALUATING MARKET SEGMENTS : EVALUATING MARKET SEGMENTS Segment Structural Attractiveness (Competition): Potential Entrants Industry Competitors Substitutes Buyers Suppliers EVALUATING MARKET SEGMENTS : EVALUATING MARKET SEGMENTS Company Objectives & Resources (firm’s ability to compete) Do segments mesh with company’s long-run objectives? Will segments move company toward its goals? Does company possess skills & resources to succeed in segment? Can company develop some superior advantage to competition?SELECTING MARKET SEGMENTS: SELECTING MARKET SEGMENTS Selecting one or more segments worth entering. Concentrated Approach Undifferentiated Approach Differentiated ApproachCONCENTRATED APPROACH: CONCENTRATED APPROACH Select a single segment & develop a single marketing mix for that segment. Company hopes to capture a large share of this marketing) Ex. 1950s Volkswagen only major automobile company competing in the economy car segment in the U.S. Slide34: P P P PUNDIFFERENTIATED APPROACH: UNDIFFERENTIATED APPROACH Referred to as Mass Marketing Ignores segments differences & offers one product/service to entire market. Assumes all consumers are similar and will respond similarly to a single marketing mix Good for homogeneous markets Good when competition is minimal or nonexistent Ex. Henry Ford’s Black Model TUNDIFFERENTIATED OR COMBINED STRATEGY: UNDIFFERENTIATED OR COMBINED STRATEGY P P P P DIFFERENTIATED APPROACH: DIFFERENTIATED APPROACH Attempts to reach all or most market segments by developing a unique marketing mix for each segment. Allows tailoring to specific market segments needs. DIFFERENTIATED APPROACH: DIFFERENTIATED APPROACH SEGMENT 1 SEGMENT 2 SEGMENT 3 SEGMENT 4 SEGMENT 5 P P P P P P P PMULTISEGMENT TARGETING BENEFITS: MULTISEGMENT TARGETING BENEFITS Potentially Greater Sales Volume Higher Profits Larger Market Share Economies of Scale in: manufacturing marketingMULTISEGMENT TARGETING COSTS: MULTISEGMENT TARGETING COSTS Production Design Costs Production Costs Promotion Costs Inventory Costs Market Research Costs Management Costs CannibalizationTARGET MARKETING Major Steps: TARGET MARKETING Major Steps Segmenting Targeting Positioning (to be discussed later)