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Identifying Market Segments and Targets
Select and Connect
Chapter 8…
The 4iApproach
In Action
Nyl Jarem P. Amoroso
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Why segment the market?
• Companies cannot connect to all customers
• To focus on consumers that they have the greatest chance of satisfying
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Concept 1
Market Segmentation(p.212)
Kotler: Club Med – catering to young couples, adventure seekers
Local: Cebu Pac – catering to “budget” commuters
RP medical application: Different specializations – catering to
specialized needs
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• Descriptive Characteristics– Geographic, demographic, psychographic
• Behavioral Considerations– Consumer responses to benefits, usage
ocassions, or brands
*Regardless of which type of segmentation scheme, the key is adjusting marketing program to recognize customer differences.
Bases for Market Segmentation
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Segmentation: Descriptive Characteristics
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Concept 2
Bases for segmenting: Geographic Segmentation (Grassroots Marketing) (p.213)
Kotler: Citibank – provides different services depending on neighborhood demographics
Local: Puregold – puts up Puregold Jr. to smaller communities
RP medical application:Community Doctors – customizing health concepts appropriate to their community
Or TMC Sattelite Centers (catering to different geographical locations
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Concept 3
Bases for segmenting: Demographic Segmentation (p.216)
Kotler: Colgate – offering toothpaste for kids and adult
Local: Bench – HerbenchRP medical application:
TMC Execcutive Packages – for Men and Women
Hospitals – Charity and Paying Wards
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Concept 4
Demographic Segmentation: Income “Trading up, down and over” p.218
Kotler: Mercedes Benz C – Class – entry level (relatively cheaper) Merc
Local: Toyota 86 – “affordable” sports carRP medical application:
Patients preferring tertiary hospitals
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Concept 5
Demographic Segmentation: Generation - Gen Y (WIRED GENERATION) (p.220)
Kotler: Product Placements in Videogames (Mountain Dew in Pro Skater 3)
Local: Lazada/Kimstore – online sellingRP medical application:
Doctors using different media to communicate to their patients.
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Concept 6
Psychographic Segmentation (p.213)
Kotler: Canadian Airports - ActualizersLocal: BDO – “We find ways” targeting
young professionals who are “Achievers”
RP medical application:Minimal Invasive Surgeries – for successful people “Achievers”
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Segmentation: Behavioural Characteristics
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Concept 7
Behavioural Segmentation: Decision Roles (p.227)
Kotler: ICI – Selling paints to wife Local: Safeguard – targeting mothersRP medical application:
Doctors – Identifying Gatekeepers (Moms) to improve patient compliance
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Concept 8
Behavioural Segmentation: Usage Rate (p.228)
Kotler: Heavy DrinkersLocal: Puregold – Aling Puring Card (for
Store owners who buys in bulks)RP medical application:
Maximizing Health Card holders
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Market TargetingOnce the firm has identified its market-segment
opportunities… it must decide how many and which ones to target
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Concept 9
Full Market Coverage: Undifferentiated (p.238)
Kotler: Henry Ford: Model T to all customers
Local: Jollibee Commercials – applicable to all consumers
RP medical application:Doctors encouraging patients “if
symptoms persists consult your doctor”
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Concept 10
Full Market Coverage: Differentiated (p.233)
Kotler: Estee Lauder: Estee Lauder (Old Consumers), Clinique (Middle-aged), M.A.C (youth)
Local: Honda – CR-V (moms), Civic (Dad), Jazz (College Kids)
RP medical application:Different Patients, catered by appropriate
Specializations
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Concept 11
Single-segment Concentration: Niche Marketing, “Customerization” (p.234)
Kotler: PorscheLocal: Project Pie – where you can
customize your pieRP medical application:“Patient are Partners”:Emphasis on
Autonomy in the Medical Field, Personalized Medicine
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• To better compete you may need to segment your market.
• Bases of segmentation base on consumer characteristic and consumer response.
• You can target all of your segments, or like a lot of companies now; you may opt for a more individualized marketing strategy.
Summary