IDENTIFYING MARKET SEGMENTS AND TARGETS C HAPTER 9.
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Transcript of IDENTIFYING MARKET SEGMENTS AND TARGETS C HAPTER 9.
• What Market Segmentation Means Market segments Product differentiation
• Segmentation: Linking Needs to Action
WHY SEGMENT MARKETS?
Market segmentation links market need to an Market segmentation links market need to an organization’s marketing programorganization’s marketing program
• What Market Segmentation Means• How Reebok’s Segmentation Strategy Developed
• Using Market-Product Grids
WHY SEGMENT MARKETS?
Market-product Grid: How Reebok shoes reach segments of customersMarket-product Grid: How Reebok shoes reach segments of customers
• When to Segment Markets• One Product and Multiple Market Segments
• Multiple Products and Multiple Market Segments
• Segments of One: Mass Customization
• The Segmentation Trade Off: CRM versus synergies
WHY SEGMENT MARKETS?
The process of segmenting and targeting The process of segmenting and targeting markets involves five key stepsmarkets involves five key steps
STEPS IN SEGMENTING AND TARGETING MARKETS
• Form Prospective Buyers into Segments• Criteria to Use in Forming the Segments
Potential for increased profit and ROI Similarity of needs of potential buyers in a segment Difference of needs of buyers among segments Feasibility of a marketing action reaching segment Simplicity and cost of assigning buyers to markets
• Ways to Segment Consumer Markets Usage rate 80/20 rule
STEPS IN SEGMENTING AND TARGETING MARKETS
Segmentation Segmentation variables and variables and breakdowns breakdowns for U.S. for U.S. consumer consumer marketsmarkets
Segmentation variables and breakdowns for U.S. Segmentation variables and breakdowns for U.S. organizational marketsorganizational markets
• Form Products to Be Sold into Groups
• Develop a Market-Product Grid and Estimate Size of Markets
STEPS IN SEGMENTING AND TARGETING MARKETS
• Select Target Markets• Criteria to Use in Picking the Target Segments
Market size Expected growth Competitive position Cost of reaching the segment Compatibility with objectives and resources
• Choose the Segments
• Take Marketing Actions to Reach Target Markets• Your Wendy’s Segmentation Strategy
• Apple’s Ever-Changing Segmentation Strategy
STEPS IN SEGMENTING AND TARGETING MARKETS
• Developing Cross-Tabulations• Pairing the Questions
• Forming Cross-Tabulations
• Interpreting Cross-Tabulations
• Value of Cross-Tabulations
ANALYZING MARKET SEGMENTS USING CROSS-TABULATIONS