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Why segment?
Most efficient
Many Groups of One One Mass Market
Most effective
customer needs.
Decision makers can define objectives
No Market Segmentation
Segmented by ..
Segmented by ..
Segmentation Process
Marketers follow two methods to determine the bases on which to identify markets: Segments are predefined by managers based on their observation of the behavioral and demographic characteristics of likely users Segments are defined by asking customers which attributes are important and then clustering the responses
Psychographics
Benefits Sought Usage Rate
Marital Status
Children
Psychographic Segmentation
Psychographic Segmentation: dividing a population into groups that have similar psychological characteristics and lifestyles.
Lifestyle: peoples decisions about how to live their daily lives, including family, job, social, and consumer activities
Geodemographic Segmentation
Segmenting potential customers into neighborhood lifestyle categories. Combines geographic, demographic, and psychographic segmentation.
Benefit Segmentation
The process of grouping customers into market segments according to the ..they seek from the product.
Cell phone carriers, LOreal, Weight watchers
Company Characteristics
Buying Processes
(Satisficers/Optimizers)
1
Select a market for study
2
Choose bases for segmentation
3
Select descriptors
4
Profile and analyze segments
5
Select target markets
6
Design, implement, maintain marketing mix
Note that steps 5 and 6 are actually marketing activities that follow market segmentation (steps 1 through 4).
Targeting
Undifferentiated Strategy
Differentiated
Concentrated
Undifferentiated Strategy
Organization
Target Market
Differentiated Strategy
Marketing Mix 1
Concentrated Strategy
Organization
http://www.youtube.com/watch?v=4aICIVOl3JU
Target Market
Cannibalization
Cannibalization
Situation that occurs when sales of a new product cut into sales of a firms existing products.
One-to-One Marketing
An individualized marketing method that utilizes customer information to build long-term, personalized, and profitable relationships with each customer. - share of customer
Product Positioning
Positioning starts with a product. A Piece of
merchandise, a service, a company, an institution, or even a person... But positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position the product in the mind of the prospect.
Al Ries and Jack Trout (1981)
Positioning
Tough, powerful cleaning Tough cleaning, color protection Detergent plus fabric softener Sunshine scent and odor-removing formula Stain treatment and stain removal
Market Share
31.1% 8.2% 2.9% 2.6% 2.2%
Dash
Oxydol Solo Dreft
Value brand
Bleach-boosted formula, whitening Detergent and fabric softener in liquid form Outstanding cleaning for baby clothes, safe Fabric & skin safety on baby clothes Tough cleaner, aimed at Hispanic market
1.8%
1.4% 1.2% 1.0% 0.7% 0.1%
9 Ivory Snow
LO
Ariel
Light beer-taste, filling Toothpaste-mint taste, tartar , whitening, enamel protection Levis- the brand that fits
By Association/Product Class (Amtrack) Problem Solution (Application, Use)Arm and Hammer, Made on an Apple
Perceptual Mapping
A means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers minds.
Sporty
Conservative
Inexpensive
4
Dove
7
Lever 2000
5
Coast
Lux
2
Safeguard
Nondeodorant
Deodorant
1
Dial Lifebuoy
Lava
Low moisturizing
Repositioning
Changing consumers perceptions of a brand in relation to competing brands.