MARKETING MANAGEMENT 12 th edition 8 Identifying Market Segments and Targets KotlerKeller.

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Presentation transcript:

MARKETING MANAGEMENT 12 th edition 8 Identifying Market Segments and Targets KotlerKeller

8-2 Effective Targeting Requires… Identify and profile distinct groups of buyers who differ in their needs and preferences. Select one or more market segments to enter. Establish and communicate the distinctive benefits of the market offering.

8-3 Ford’s Model T Followed a Mass Market Approach

8-4 Four levels of Micromarketing Segments Local areasIndividuals Niches

8-5 Segment Marketing Targeting a group of customers who share a similar set of needs and wants.

8-6 Customerization Combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product and service offering of their choice.

8-7 Figure 8.2 Examples of Market Customization

8-8 Segmenting Consumer Markets Geographic Demographic Psychographic Behavioral

8-9 Demographic Segmentation Age and Life Cycle Life Stage Gender Income Generation Social Class

8-10 Behavioral Segmentation Decision Roles Initiator Influencer Decider Buyer User Behavioral Variables Occasions Benefits User Status Usage Rate Buyer-Readiness Loyalty Status Attitude

8-11 Heavy and Light Users of Common Consumer Products HEAVY HALF LIGHT HALF PRODUCT (% USERS) 75% 71% Soups and detergents (94%) 25% 29% 79%21% Toilet tissue (95%) Shampoo (94%) 75%25% 17% Paper towels (90%) Cake mix (74%) Cola (67%) 83% 13% 5 % 87% 19% Beer (41%) Dog food (30%) Bourbon (20%) 81% 95%

8-12 Loyalty Status Switchers Shifting loyals Split loyals Hard-core

8-13 Figure 8.6 Patterns of Target Market Selection

8-14 Figure 8.6 Patterns of Target Market Selection

8-15 Figure 8.6 Patterns of Target Market Selection

8-16 Effective Segmentation Criteria Measurable Substantial Accessible Differentiable Actionable