Mass Marketing b. Micromarketing c. Market Targeting
2. A type of Micromarketing that consists of a group of customerswhoshare a similarset of needs and wants.
a. Segment b. Niche c. Local
3. Containing the product and service elements that all segment members value.
a. Discretionary option...
BY- SUNIT KUMAR MISHRA
• CONCEPT AND DEFINITION The concept of marketsegment is based on the fact that the market of commodities are not homogeneous but they are heterogeneous. Market represent a group of customer having common characteristics but two customer are never common...
Identifying MarketSegments and Selecting Target markets
Don’t buy marketshare. Figure out how to earn it
1-How can a company identify the segments that make up a market
2- What criteria can a company use to choose the most attractive target markets?
3- How can a company...
are Needs , Wants , and Demands. Needs are basic of human requirement. These needs become Wants when they are directed to particular objects that might satisfy the needs. And Demands are wants of specific products backed by an ability to pay. The marketers can rarely satisfy everyone in a market. For...
International market segmentation (International market segmentation) is the concept of market segmentation in the use of international marketing. Its concept is by comparing the domestic and international market for more buyers, a wider distribution. With businesses having limited power, it is usually...
process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Twofold goal of marketing is to attract new customers by promising superior value, and keep & grow current customers by delivering satisfaction.
* Marketing is managing profitable customer relationships.
* Marketing process:
1. Understand the marketplace and customerneeds and wants.
2. Design a customer-driven marketing strategy.
3. Construct a marketing program that delivers superior value.
able to add to the bottom line of companies that are able to target this market with the right marketing mix. Targeting the $1.2 trillion submarket is becoming a necessity for brands that are looking to grow their marketshare. Hispanic consumers are increasingly making their way into mainstream America...
Marketsconsist of buyers, and buyers differ in one or more ways. They do differ in their wants, resources, locations, buying attitudes and buying practices. Every buyer has unique needs and wants; therefore every buyer is potentially a separate market. Ideally, every seller should design a separate...
common: they are strongly customer focused and heavily committed to marketing.
Media, and new electronic (websites) reach costumers directly and personally, and marketers want to become a part of their life and to help them to live their brands.
Marketing is satisfying customerneeds.
See figure 1.1 page...
company/organization cannot cater for all customers in large, broad or diverse markets. Consumers vary on many dimensions and often need to be grouped according to one or more characteristic. They may have different wants, buying preferences or product use behavior. In some markets this differences are relatively...
I Analyzing Consumer Markets
The aim of marketing is to meet and satisfy target customers’ needs and wants better than competitors. Marketers must have a thorough understanding of how consumers think, feel, and act and offer clear value to each and every target consumer.
What influences consumer...
that will satisfy individual and organizational objectives.
Core marketing concepts
Need; Human necessary needs like food.
Wants; when human satisfy their need is called wants.
Demand; people demand product with benefits that added the value and satisfaction...
Identifying MarketSegments and Targets
Levels of marketSegmentsSegments marketing: A marketsegmentconsists of a group of customerswhoshare a similarset of needs and wants. Rather than creating the segments, the marketers task is to identity them and decide which one (s) to target...
This chapter looks further into key customer-driven marketing strategy decisions—how to divide up markets into meaningful customergroups (segmentation), choose which customergroups to serve (targeting), create market offerings that best serve targeted customers (differentiation), and positioning the...
segmenting an international market would involve the market segmentation, targeting and positioning.
Firstly, market segmentation involves a group of customerswhosharesimilarsets of needs and wants. Market segmentation is consistent with the marketing concept and customer orientation and enables the...
Post Graduate Program in International Management
2013 – 2015
Prof. J. N. Godinho
Group Project: The Final Report
13PGPIM – 01 Aasima Azra Akbar Mirza
13PGPIM – 08 Bhawna Mehta
13PGPIM – 09 Devesh Saini
13PGPIM – 18 Sanket Mantri
13PGPIM – 25...
MANAGING PROFITALBE CUSTOMER RELATIONSHIPS
• What is marketing?
• Deals with people
• It is managing profitable customer relationships.
• Twofold goal is to:
• Attract new customers by promising superior value, and
• Keep and grow current customers by delivering satisfaction...
Principles of Marketing
TARGET MARKETING: Market Segmentation, Targeting and Positioning
1. To succeed in today’s competitive marketplace, companies must be customer-centered, wining customers from competitors and keeping them by delivering greater value.
a. Sound marketing...