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MARKETING AN INTRODUCTION

6 Armstrong/Kotler

Customer-Driven Marketing

Strategy
Creating Value for Target Customers

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Customer-Driven Marketing Strategy

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Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Geographic Segmentation

Geographic segmentation calls for dividing


the market into different
geographical units
such as nations,
regions, states,
counties, cities, or
even neighborhoods.

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Demographic Segmentation

Age Gender

Family Life
Family Size
Cycle

Income Occupation

Education Religion

Race Generation

Nationality 6-4

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Psychographic Segmentation

Social Class Lifestyle Personality

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Behavioral Segmentation

Behavioral
Occasions
segmentation divides a
market into segments Benefits sought
based on consumer
knowledge, attitudes, User Status

uses, or responses to a
Usage Rate
product.
Loyalty Status

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Requirements for Effective Segmentation

Measurable Accessible Substantial

Differentiable Actionable
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Selecting Target Market Segments

A target market consists of a set of buyers


who share common
needs or
characteristics that
the company
decides to serve.

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Market Targeting
Evaluating Target Segments

Segment size and


growth

Segment structural
attractiveness

Company objectives
and resources
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Market Targeting
Selecting Target Segments

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Differentiation and Positioning

A product’s position is the


way the product is defined
by consumers on
important attributes – the
place the product
occupies in the
consumer’s mind relative
to competing products
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Identifying Possible Value Differences
and Competitive Advantages

Competitive advantage is an advantage


over competitors gained
by offering greater
customer value,
either through lower
prices or by providing
more benefits that justify
higher prices.
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Differentiation

Product Services Channels

People Image
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Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall