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IDENTIFYING MARKET SEGMENTS AND TARGETS C HAPTER 9.

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Presentation on theme: "IDENTIFYING MARKET SEGMENTS AND TARGETS C HAPTER 9."— Presentation transcript:

1 IDENTIFYING MARKET SEGMENTS AND TARGETS C HAPTER 9

2 What Market Segmentation Means  Market segments  Product differentiation Segmentation: Linking Needs to Action WHY SEGMENT MARKETS?

3 Market segmentation links market need to an organization’s marketing program

4 What Market Segmentation Means How Reebok’s Segmentation Strategy Developed Using Market-Product Grids WHY SEGMENT MARKETS?

5 Market-product Grid: How Reebok shoes reach segments of customers

6 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?

7 The process of segmenting and targeting markets involves five key steps STEPS IN SEGMENTING AND TARGETING MARKETS

8 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

9 Segmentation variables and breakdowns for U.S. consumer markets

10 Segmentation variables and breakdowns for U.S. organizational markets

11 Form Products to Be Sold into Groups Develop a Market-Product Grid and Estimate Size of Markets STEPS IN SEGMENTING AND TARGETING MARKETS

12 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

13 Developing Cross-Tabulations Pairing the Questions Forming Cross-Tabulations Interpreting Cross-Tabulations Value of Cross-Tabulations ANALYZING MARKET SEGMENTS USING CROSS-TABULATIONS

14 Two Approaches to Product Positioning  Head-to-head positioning  Differentiation positioning POSITIONING THE PRODUCT


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