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Roy Rogers

By | Jan. 2013
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02.10.2012

Target Marketing Process (STP)
Identify markets with unfulfilled needs

Segmentation, Targeting and Positioning
Albert CARUANA Ph.D.

Determining market segmentation

Selecting market to target

Positioning through marketing strategies

Customer-Oriented Marketing Strategy • Segment market:
– Divide larger market into groups of people with similar demands and responses.

Market
• Generic definition: A market is a group of people with purchasing power who are willing to spend money to satisfy their need • Product Market: consists of a group of people with similar needs who satisfy their needs through the purchase of particular products.

• Target marketing:
– Evaluate segments and select one or more segments to enter.

• Positioning:
– Create clear, distinctive and desirable place relative to competing products in minds of target customers.

Market Segmentation
• Segmentation: the subdividing of a market into homogenous subsets of customers, where any subset can be selected as a market target to be reached with a distinctive marketing mix – Consumer Segmentation – Industrial Segmentation

Consumer Segmentation Geographic
• • • • State Region Country size Climate

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02.10.2012

Consumer Segmentation Demographic
Most often used because: • correlate well with sales • easy to identify and measure • used to describe advertising media audiences

Consumer Segmentation Demographic
– Age - Young , middle age, senior – Gender – Type of Household - single, traditional – Family size – Family Life Cycle – Occupation, Education, Income – Nationality, Religion, Race

Geo-Demographic

Digital maps show racial divides in US cities
Detroit Chicago

One dot = 25 people • White people •Black people •Asians •Hispanics

Consumer Segmentation
• Psychographic
– Personality - macho image eg Marlboro – Lifestyle - people often use products to make statements about themselves

• Behavioural
– usage – Usage rate - in...
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