Announcement Quiz will be next Wed, Feb 19. “Marketing you” assignment was due Feb 12. Feb 19 is the absolute deadline for this assignment.

Slides:

Advertisements

Similar presentations

Text Books needed today – Read Pages

Advertisements

Target Markets and Market Segmentation

Target Market. What is target marketing? Is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its.

Content of the Lecture Definition of Market Segmentation

Learning Goals Learn the three steps of target marketing, market segmentation, target marketing, and market positioning Understand the major bases for.

8 Identifying Market Segments and Targets

Marketing Segmentation

Chapter 7- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Seven Customer-Driven Marketing Strategy Creating Value.

How to Identify a Target Market and Prepare a Customer Profile

Objectives Be able to define the three steps of target marketing: market segmentation, target marketing, and market positioning. Understand the major.

Learning Goals Learn the three steps of target marketing, market segmentation, target marketing, and market positioning Understand the major bases for.

7- 1 Copyright © 2012Pearson Education, Inc. Publishing as Prentice Hall i t ’s good and good for you Chapter Seven Customer-Driven Marketing Strategy:

SOB is looking to launch as a new baby food provider in the marketplace. Farm to table is an important eating trend and babies should have healthy food.

WHO IS OUR TARGET MARKET? Write a brief description of our SBE’s target market. IMPLEMENTING AUTOMATED RETAIL: PEOPLE.

Today I will: Learn to analyze and segment a Target Market So I can: Differentiate between mass marketing and market segmentation I will know I’m successful.

SEM PI – Describe target marketing in sport/event marketing.

Segmentation, Targeting and Positioning

Analyze the Needs of Customers How Market Segmentation Can Help an Entrepreneur analyze a Target Market.

THE 4 PS OF MARKETING BDP301. THE MARKETING MIX Every marketing plan needs a target market and a good mixture of marketing elements. The right mixture.

Chapter 10 Target Markets: Segmentation, Evaluation, and Positioning

Market Segmentation. "The marketer should stop thinking of his customers as part of some massively homogeneous market. He must start thinking of them.

Market Segmentation. Market Segmentation Three Parts Demographics Geographic Psychographics.

WF SEM I Summarize ways to reach markets Market Segmentation.

Instructor: Amir Ekhlassi (4) Market Segmentation, Targeting, & Positioning.

What’s Happening? 0/09/10-best-lifes-too-short-for-wrong-job.html

MGT-519 STRATEGIC MARKETING AAMER SIDDIQI 1. LECTURE 12 2.

Market Segmentation, Targeting and Positioning Chapter 10.

Student Name: ______________. Small Businesses ___________ ________________________ Each business ________ reach _________customers and satisfy their.

Nqbm marketingJW & EC Jan Market segmentation is the identification of groups with relatively similar needs and wants within a market Learn this.

Primary & Secondary Markets IDENTIFY YOUR MARKET.

CONSUMER PROFILES. STP Process (Market Segmentation, Target Market & Positioning Strategy) 1. Segment the Consumer Market 2. Select a Target Market 3.

Steps in Segmenting Markets. Segmenting Criteria Potential for increasing profit Potential for increasing profit Similarity of needs of buyers within.

Sultan Ahmed Topic 05. Sultan Ahmed You would be able to answer the following questions after reading.

March 22,  A specific group of consumers at which a business aims its products and services Example.

Chapter 7- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Seven Customer-Driven Marketing Strategy Creating Value.

A Marketing Review Marketing Co-op. Marketing O The process of planning pricing, promoting, selling, and distributing products to satisfy customers’ needs.

Commercials! Let’s Sell Something!! Your Commercial project will be a :60 second event with no more than 2 other people involved. Your Commercial is DUE.

LOGO DESIGN AND BRANDING. WHAT IS YOUR DEMOGRAPHIC? Demographic: the qualities (such as age, sex, and income) of a specific group of people : a group.

BASES OF MARKETING SEGMENTATION Group nd B. Com ‘B’ Under the Guidelines of:Subject: Dr. H. NagrajPrinciple of Marketing St. Joseph’s Evening.

Market Analysis…WHY?  Gather information about your industry  Identify prospective customers and their buying habits You can not fulfill the Marketing.

MARKETING CLASS Session II Marketing Strategy I Session II Marketing Strategy I.

2.02 Discuss the concept of market identification.

© 2006 Pearson Education Canada Inc. 3.1 Canadian Advertising in Action Chapter 3 Consumer Behaviour Concepts and Target Marketing.

MARKETINGMARKETING. What is marketing? Finish the sentence: Marketing is...

PART 03 DESIGNING A CUSTOMER-DRIVEN MARKETING STRATEGY AND MIX.

Market Segmentation Chapter 9. Market Segmentation What is it? What is it? Segments should Segments should Have common needs Have common needs Respond.

Market Segmentation. Why would marketers want to target teens? Impulse buyers Disposable income Building brand loyalty.

Segmentation, Targeting and Positioning Lecture no 6.

+ Fashion MARKETING Basics How fashion is marketed9/8/15.

Today I will: Learn to analyze and segment a Target Market So I can: Differentiate between mass marketing and market segmentation I will know I’m successful.

Customer Segmentation Not all customers are the same. So stop taking a one-size-fits-all approach to your marketing and start segmenting your customers.

* * Chapter Thirteen Marketing: Helping Buyers Buy Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.

* * Chapter Thirteen Marketing: Helping Buyers Buy Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.

Segmentation, Targeting & Positioning. Why do this?

3.1.5 How and Why Market Segmentation is Undertaken.

Dr.P.Saradhamani. What is Market Segmentation? The process of breaking of buyers into groups that are different from each other but internally similar.

U.3-MARKET SEGMENTATION. What is a Market? PEOPLE BUT - not just ANY people, they have to have Willingness to buy Purchasing power (money) Authority to.

CONSUMER PROFILES.

MARKETING MANAGEMENT Segmentation, Targeting, and Positioning.

Segmentation, Targeting, and Positioning Building the Right Relationships with the Right Customers Chapter 7.

Segmentation, Targeting, and Positioning

Target Market The target market is the group of customers that you are aiming at., the sort of people that you think will want to buy the product that.

Market Segmentation.

Market Targeting and Segmentation

Ch. 2: Basic Marketing Concepts

PROPERTY OF PIMA COUNTY JTED, 2010

What they are How markets are segmented

Target Marketing.

CHAPTER 7 CUSTOMER DRIVEN MARKETING STRATEGY

Chapter 7 Identifying Market Segments and Selecting Target Markets by

Presentation transcript:

Announcement Quiz will be next Wed, Feb 19. “Marketing you” assignment was due Feb 12. Feb 19 is the absolute deadline for this assignment.

Target Market: Definition: A target market is a group of customers that the business has decided to sell their product (or service) or to aim its marketing efforts. For example, what is the target market of BMW? In other words, which group of customers do BMW marketers target?

Market Segments: Definition: Group of customers, which have similar needs or wants. What are the factors marketers use to separate market segments? Urban area vs rural area or East vs West Age, Gender, family size, marital status, income level, occupation, education, race, personality, etc…

Steps in choosing your target market: 1.Group potential buyers into segments. 2.Group products to be sold into categories 3.Select target markets 4.Take marketing actions to reach target markets

Steps in choosing your target market: 1.Group potential buyers into segments. 2.Group products to be sold into categories 3.Select target markets 4.Take marketing actions to reach target markets

Steps in choosing your target market: My example is Toyota Lexus (63000), Toyota Highlander SUV (45000) Toyota Camry (35000) and Toyota Corolla (24000). (4 products) 1.Group potential buyers into segments. : *Low = Their income is between 0 to a year *Medium = Their income is between to a year *High = Their income is between or higher AgeIncomeSegments 15 to 30 = ALow, Medium, HighAL, AM, AH 31 to 45 = BLow, Medium, HighBL, BM, BH 46 to 60 = CLow, Medium, HighCL, CM, CH 61+ = DLow, Medium, HighDL, DM, DH

Steps in choosing your target market: My example is Toyota Lexus (63000), Toytoa Highlander (45000) Toyota Camry (35000) and Toyota Corolla (24000). (4 products) Lexus will target AH, BH, CH, DH Highlander will target BM, BH, CM, CH Camry will target BM,. CM, DM Corolla will target AL, BL, CL, DL

Group Work: You will get into groups of max 3 people per group. Each group will choose a topic from the handout. You will teach the class with your topic tomorrow.