Strategic Marketing Lectures 4
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Transcript of Strategic Marketing Lectures 4
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Module: Strategic Marketing
Instructor: Bilal Ahmad
LECTURE: Strategic market
segmentation
Introduction
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• Identification of Market segments
• Buyer’s needs, preferences and purchase
behavior
• Formation of market segments
• ustomer group identification
• Forming group base on !esponse
differences
• Finer segmentation strategies
"earning #utcomes
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• $electing the segmentation strategy
• $trategic analysis of market segments
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• Identifying market segments – $egmentation variables
– haracteristics of people and organi%ations•
onsumer markets• #rgani%ational markets
• Product use situation segmentation
• Buyers’ needs and preferences
– onsumer needs
– &ttitudes
– Perceptions
• Purchase behaviour
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• $egmentation variables – $egmentation and targeting of customers allows the
marketer to deliver a product within the target audience
needs and wants 'Pickton and Broderick, ())*+ -.
Identification of Market segments
Buyers’ Needs/Preferences
Use
Situation
Characteristics of People/Organizations
Purchase
Behavior
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Illustrative $egmentation /ariables
Characteristics
of people/
organizations
Consumer Marets
Organizational Marets
&ge, gender, income,
family si%e, lifecycle
stage, geographic
location,
lifestyle
Type of industry, si%e,
geographic location,
corporate culture, stage of
development, producer0
intermediaryUse situation #ccasion, importance of
purchase, prior
e1perience with product,
user status
&pplication, purchasing
Procedure 'new task,
modified rebuy, straight
rebuy
Buyers’ needs/
preferences
Brand loyalty status, brand
preference, benefits sought,2uality, proneness to make
a deal
Performance re2uirements,
brand preferences, desiredfeatures, service
re2uirements
Purchase
!ehavior
$i%e of purchase,
fre2uency of purchase
/olume, fre2uency
of purchase
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• 51ample+
• &stra0Merck segmentation based on6 – 7ealth care as business
• are administrator
– Traditional• Physicians with standard patient needs
– ost sensitive• Physicians for whom cost is paramount
– Medical though leaders• People on leading edge
Product use situation
segmentation
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– 4eeds and preferences• $pecific to product
• $pecific to brand
• 8sed as segmentation bases
• 8sed as segmentation descriptors
– ustomer needs
– &ttitude
– Perceptions
Buyer9s needs and Prefrences
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• ustomer needs – Basic physiological needs
– 4ature and intensity of needs
–Better solution 'Filling the gap.
• &ttitudes – &ttitude influence behavior
–
Marketing strategy development
Buyer9s needs and Prefrences
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• Perception – Process by which an individual selects,
organi%e, and interprets information inputs to
create a meaningful picture of the world6'Bernard and :ary, ;7uman behavior?@.
– 5valuation of Positioning strategy
– $trategic management of Positioning strategy
Buyer9s needs and Prefrences
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• Purchase behavior – onsumption variables
– /olume of purchase
–!M system
– "oyalty Program
Buyer9s needs and Prefrences
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• Purchase behavior
Buyer9s needs and Prefrences
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• "evels of involvement
Forming Market segments
"ow involvement
7abitual 3ecisions
56g66 tea, toothbrush
Moderateinvolvement
$imple decisions
56g6 Face wash,snacks
7igh Involvement
"engthy decisions
56g6 ar, 8niversity
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–
!e2uirements for segmentation• !esponse differences
• Identifiable segments
• &ctionable segments
• ost0benefits
• $tability
– &pproaches to segment identification
– ustomer group identification
– Forming groups based on response differences
Forming market segments
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•
51ample• Miller genuine draft A
– ;mainstream sophisticates<
• Milwaukee’s Best "ight A – ;hardworking men<
• Pilsner 8r2uell A
– ;beer afficionados<
• Miller Icehouse A – for ;drinking buddies<
Forming market segments
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Beer market demographics
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• !esponse differences
• Identifiable segments
• &ctionable segments
• ost0benefits of segmentation
•
$tability over time
• Product 3ifferentiation and market
segmentation
!e2uirements for segmentations
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$egmentidentification
B$tart withcustomer
response profile
&$tart withidentifiers of
customer group
&pproaches to segment identification
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• Management insight and available
information
• ross classification analysis
• 3ata Mining for segmentation
• $egmentation illustrations
ustomer group identifiaction
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• ustomer relationship management '!M. – luster analysis
– Perceptual maps•
Product market area• ompetitor analysis
• Buyer’s perception analysis
• Map preparation
Forming group based on response
differences
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– "ogic• ustomi%ed offerings
• 3iverse customer base
• lose customer relationships
– Finer segmentation strategies• Microsegmentation
• Mass customi%ation
• /arietyseeking strategy
Finer segmentation strategies
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– 3eciding how to segment
– $trategic analysis of market segments• ustomer analysis
• ompetitor analysis
• Positioning analysis
• 5stimating segment attractiveness
• $egmentation ;fit< and implementation
$electing the segmentation strategy
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• &nticipating the future – Boundaries and composition of Product market
– 5nduser customer base
–Market and industry transformation
– Potential threats
– /alue chain composition and structure
– Product life cycle phaseC
$trategic vision about future
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