Академический Документы
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MARKET SEGMENTATION , TARGETING AND POSITIONING Segmentation To divide into packets or groups. Aggregation No division. Market Segmentation The process of dividing the total market for a good or service into smaller and homogenous groups. Benefits of Market Segmentation Customers wants identification. Better and easy marketing Focus A technique to reach each nature of market. The Process of Market Segmentation Identify the Needs Identify the Characteristics that distinguish among the segments Determine the size of the market Three Stages of Market Segmentation Identifying Segments Selecting Target Segments Creating Marketing Mix for Each Segment Requirements for Segmentation Substantiality Means a relative size of the segment. Particular market may be attractive for one firm may not be for other. Market should be enough to make profit. Differential Response One segment requirements must be different from the others. Accessibility Accessibility of media, people, channels, transportation, sales force.
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Types of Segmentation or Segmentation Basis for Consumer Market Segmentation Basis Possible Market Segmements
New England, north region etc Area and size hot, cold, rainy.
Demographic Income Age Gender Family Life Cycle Social Class Education Occupation Ethnic Background
under 2500, 50000, 100000$ under 0-15, 15-30, 30-45, 45-60 and beyond Male, Female young, single, couple, married, with children upper, Lower, Middle school, college, University household, businessman, clerk, professional. African, religion, European, Middle Eastern
Aggressive, passive, rational way of leading a life different people different values, money
Usage Rate
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Positioning
competitive look of the product, service, or organization.
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Test Marketing To offer a product in limited geographical area then measure the sale and then project the sale over larger area. Past Sales and Trend Analysis To use the past years sales data to project the future and to break the previous sales records. Sales Force composite it consists of the sales data form all sales people form their territories and then project the future sale for their territories. Executive Judgment Product Planning and Development What is Product Product Attributes
Classification of Products
Consumer Product Business Product Classification of Consumer Goods Convenience goods: often purchasing products Shopping goods: which consumer wants to compare Specialty goods: a product needs time and money to purchase Unsought goods: new product consumer is not yet aware Classification of Business Goods 1. Raw Material: business goods from which we make finished product. 2. Fabricating Materials and Parts: business goods that become part of the finished product. 3. Installations: expensive and long lived business equipments 4. Accessory Equipment: not related to the production and not having the great value in business, facilitating products. 5. Operating Supplies: business goods not becomes the part of finished product but necessary for the business operation. Importance of Product Innovation Requirement for Growth High Failure Rates
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Adopter Categories
Innovators Early Adopters Early Majority Late Majority Laggards