. 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 b. Naked...
Target MarketConsists of a set of buyers whoshare common needs or characteristics that the company decides to serve
Evaluating MarketSegmentsSegment size and growth
• Segment structural attractiveness...
mix elements and programs)
* Actionable (effective programs can be designed for attracting and serving the segments)
Target marketconsists of a set of buyers whoshare common needs or characteristics that the company decides to serve
Undifferentiated (mass) marketing is a market coverage...
communication channels they can be reached, also what exactly they want from the product itself. A marketsegment is a group of customers with similar inclinations towards a particular product/brand. In order to do so, marketers should look more closely at the market and find ways of breaking it...
, differentiable and actionable. Once the market has been divided and identified, it then has to decide how it will be targeted. Targeting consists of evaluating each market segment’s attractiveness and selecting one or more marketsegments to enter. Target marketconsists of a set of buyers whoshare...
it is defined entire consumer market as one large marketsegment and business market as another large segment.
A marketsegmentconsist of a group of customerswhoshare a similarset of needs and wants. .Segmentation is a mass marketing . In mass marketing the sellers engages in the mass...
LEVELS OF MARKET SEGMENTATION
1. SEGMENT MARKETING
Consists of a group of customerswhoshare a similarset of needs and wants. Identifiable Group with in a Market with Similar
• Wants • Purchasing Power • Geographical Location • Buying Attitudes
FLEXIBLE MARKET OFFERING...
which in turn can lead to lower prices or higher margins.
Many companies are turning to micromarketing at one of four levels: segments, niches, local areas and individuals.
- Segment marketing:
1- Marketsegmentconsists of a group of customerswhoshare a similarset of...
usually very complex to meet the needs of worldwide customers.
A marketsegment is defined as “a group of customerswhoshare a similarset of needs and wants”. In this case its HSBC trying to target potential customers. The first key consideration is the benefits of segmentation. This segmentation...
makes each segment unique and different. Identifying and satisfying the right marketsegments is often the key to marketing success.
* Divides a market into well-defined slices.
* A marketsegmentconsists of a group of customerswhoshare a similarset of needs and wants...
margins, sellers want to create full partnerships with customers.
* Many companies offer frequency marketing programs that reward customerswho buy frequently or in large amounts.
* Share of customer is defined as the share the company gets of customers purchasing in their product...
Levels of market segmentation
• Segment marketing
o A marketsegmentconsists of a group of customerswhoshare a similarset of needs and wants.
o A flexible market offering consists of two parts: a naked solution containing the product and service...
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...
number of distinct product lines, which happens when a firm diversifies, or when it is taken over or merged. Each product or service is managed separately.
d. Market or customer grouping: brings together all the jobs or activities that serve the specialist needs of particular groups of customers...
resources: Some attractive segments may not align with the company’s objectives and resources. Or, the company may lack the skills & resources.
Selecting Target MarketSegments (Read Real Marketing 7.1-pg 27-228)
A target marketconsists of a set of buyers whoshare common needs or...
helps marketers to quantify, compare, and interpret their marketing performance
Marketing - Session 3
The STP process: Segmentation => Targeting => Positioning. 1/ SEGMENTATION A marketsegmentconsists of a group of customerswhoshare a similarset of needs and wants...
business unit hopes to achieve its marketing objectives.
• MarketSegment – A group of consumers who respond in a similar way to a given set of marketing efforts.
• Four (4) Customer-Driven Marketing Strategy Process
• Market segmentation – Dividing a market into distinct groups of...
parts: a naked solution and discretionary options.
8- A marketsegmentconsists of a group of customerswhoshares different set of needs and wants.
11- A market where all the consumers have roughly same preferences is known as...
, information services or experiences offered to a market to satisfy a need or want.
Customer value and satisfaction.
Exchanges and relationships. Marketers wants to build a strong relationships with customers so they will come back.
Market. A market is the set of actual and potential buyers of a...
TARGET MARKET (Evaluate attractiveness of each. Select target market)
POSITIONING (identify differential advantage for each)
A marketsegmentconsists of a group of customerswhoshare a similarset of needs and wants
- descriptive method...