logging in or signing up Targeting kavithanaidu Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite 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: 29 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: March 20, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Targeting & Segmentation : Targeting & Segmentation Target Marketing : Target Marketing Identifying those particular groups of customers which your product/service is capable of meeting their requirements (needs) most. Each of these groups constitute a market segment Selecting one or more segments to enter Establishing and communicating the product’s key distinctive benefits in that market Market Segment : Market Segment A large identifiable group within a market with similar wants, purchasing power, geographical locations, buying attitudes Niche Marketing : Niche Marketing What is an attractive niche ? A distinct set of needs A premium can be charged Not likely to attract competition Gains certain economies through specialisation Sufficient size, profit and growth potential Local Marketing : Local Marketing When the marketing mix is altered to suit the local conditions eg. Giving a higher/ lower discount than what’s prevailing in the rest of the markets or implementing a different promotion scheme Individualised Marketing : Individualised Marketing When the firm deals with each customer on a one – to – one basis When products are customised for the customer Bases for Segmentation : Bases for Segmentation Geographic –territory demarcations Demographic – age, family size, sex, income,education, religion, etc. Psychographic – lifestyle,personality,values Behavioral – knowledge,attitudes,usage Behavioral variables : Behavioral variables Occasions – birthdays, lunchtime,vacations Benefits – eg.travel – business, vacation, educational User status – non users, ex users, first time users, regular users, potential users Usage rate – light, medium, heavy Slide 9: Loyalty status – diehards,shifters,switchers Buyer Readiness – unaware – aware – informed – interested – desire – intention to buy Attitude – enthusiastic, positive, indifferent, negative, hostile Criteria for segmentation : Criteria for segmentation Measurable Substantial Accessible Differentiable Actionable Market Targeting : Market Targeting Single segment concentration Selective specialisation Product specialisation Market specialisation Full Market coverage - undifferentiated marketing differentiated marketing Undifferentiated Marketing : Undifferentiated Marketing Single product addressing all segments with a single marketing program. Mass production is possible giving scale economies Pushes price downwards enabling to attract price sensitive segments Differentiated Marketing : Differentiated Marketing A separate market offering for every segment Marketing programs for every segment could be different Pushes up costs at various levels, necessitating sufficient volumes for viability Generates inter-segment rivalry You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
Targeting kavithanaidu Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite 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: 29 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: March 20, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Targeting & Segmentation : Targeting & Segmentation Target Marketing : Target Marketing Identifying those particular groups of customers which your product/service is capable of meeting their requirements (needs) most. Each of these groups constitute a market segment Selecting one or more segments to enter Establishing and communicating the product’s key distinctive benefits in that market Market Segment : Market Segment A large identifiable group within a market with similar wants, purchasing power, geographical locations, buying attitudes Niche Marketing : Niche Marketing What is an attractive niche ? A distinct set of needs A premium can be charged Not likely to attract competition Gains certain economies through specialisation Sufficient size, profit and growth potential Local Marketing : Local Marketing When the marketing mix is altered to suit the local conditions eg. Giving a higher/ lower discount than what’s prevailing in the rest of the markets or implementing a different promotion scheme Individualised Marketing : Individualised Marketing When the firm deals with each customer on a one – to – one basis When products are customised for the customer Bases for Segmentation : Bases for Segmentation Geographic –territory demarcations Demographic – age, family size, sex, income,education, religion, etc. Psychographic – lifestyle,personality,values Behavioral – knowledge,attitudes,usage Behavioral variables : Behavioral variables Occasions – birthdays, lunchtime,vacations Benefits – eg.travel – business, vacation, educational User status – non users, ex users, first time users, regular users, potential users Usage rate – light, medium, heavy Slide 9: Loyalty status – diehards,shifters,switchers Buyer Readiness – unaware – aware – informed – interested – desire – intention to buy Attitude – enthusiastic, positive, indifferent, negative, hostile Criteria for segmentation : Criteria for segmentation Measurable Substantial Accessible Differentiable Actionable Market Targeting : Market Targeting Single segment concentration Selective specialisation Product specialisation Market specialisation Full Market coverage - undifferentiated marketing differentiated marketing Undifferentiated Marketing : Undifferentiated Marketing Single product addressing all segments with a single marketing program. Mass production is possible giving scale economies Pushes price downwards enabling to attract price sensitive segments Differentiated Marketing : Differentiated Marketing A separate market offering for every segment Marketing programs for every segment could be different Pushes up costs at various levels, necessitating sufficient volumes for viability Generates inter-segment rivalry