Marketing Segmentation & Consumer Behavior

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Presentation transcript:

Marketing Segmentation & Consumer Behavior

Three Phases of Marketing Strategy Product/Brand Positioning Phase 2 Target Market and Marketing Mix Selection Phase 1 Market Segmentation

Segmentation Studies Discover the needs and wants of groups of consumers to develop specialized products to satisfy group needs Used to identify the most appropriate media for advertising

Some Overall Segmentation Variables Geographic Demographic Psychological Psychographic Socio-cultural Family life stages Use-Related Use-Situation Benefit Sought Hybrid

Bases for Segmentation Psychological Segmentation - Motivations, Personality, Perceptions, Learning, Attitudes Psychographic Segmentation (Lifestyle Analysis) - AIOs Sociocultural Segmentation - Family Life Cycle, Social Class, Culture, Subculture, and Cross-Culture Use-Related Segmentation - Heavy vs. Light, Aware vs. Unaware, Brand Loyal vs. Brand Switchers

AIO Dimensions Activities Interests Opinions Work family themselves Hobbies home social issues Social events job politics Vacation community business Entertainment recreation economics Community food products Shopping media future Sports achievement culture, etc. PLUS demographics integrated into various psychographic segments such as geo-demographic, VALS, etc.

VALS Framework

Segment Selection and Implementation Segments to be targeted Identification Sufficiency Stability Accessibility Concentrated Marketing One segment Differentiated Several segments with individual marketing mixes