chapter 3 marketing segmentation. what is marketing segmentation? who uses market segmentation? how...
DESCRIPTION
Market Segmentation The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix.TRANSCRIPT
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Chapter 3
Marketing Segmentation
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What is Marketing Segmentation?
• Who uses market segmentation?• How does market segmentation operate?
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Market Market SegmentationSegmentation
The process of dividing a potential market into distinct
subsets of consumers and selecting one or more
segments as a target market to be reached with a distinct
marketing mix.
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Mass Mass MarketingMarketing
Offering the same product and marketing mix to all
consumers.
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PositioningPositioningEstablishing a specific image
for a brand in relation to competing brands.
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Bases for Segmentation
• Geographic Segmentation• Demographic Segmentation• Psychological Segmentation• Psychographic Segmentation• Sociocultural Segmentation• Use-Related Segmentation• Usage-Situation Segmentation• Benefit Segmentation• Hybrid Segmentation Approaches
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AIOsAIOs
Psychographic variables that focus on activities, interests, and opinions. Also referred
to as Lifestyle.
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Hybrid Segmentation Approaches
• Psychographic-Demographic Profiles• Geodemographic Segmentation• SRI Consulting’s Values and Lifestyle System
(VALSTM)
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Criteria For Effective Targeting of Market Segments
• Identification• Sufficiency• Stability• Accessibility
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Implementing Segmentation Strategies
• Concentrated Versus Differentiated Marketing• Countersegmentation
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Counterseg-Counterseg-mentation mentation StrategyStrategy
A strategy in which a company combines two or
more segments into a single segment to be targeted with
an individually tailored product or promotion
campaign.