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Approaches
Product
Mass Target
differentiation
marketing marketing
marketing
1. Segmenting Consumer
Markets
2. Segmenting Business
Markets
1. SEGMENTING CONSUMER MARKETS
BASIS OF SEGMENTING CONSUMER MARKETS
Geographical
(Nations, Regions, Cities, Neighborhoods)
Demographic
(Age, Income, Gender, family size Lifecycle,
education, etc)
Psychographic
(Personality, Culture, Lifestyle)
Behavioral
(Occasion, Benefits Sought, User Status, Usage
Rate, loyalty status)
GEOGRAPHIC SEGMENTATION
o Benefits
o User Status
oUser Rate
oLoyalty Status
Requirements for Effective Segmentation
Measurable Accessible
Substantial Differentiable
Actionable
REQUIREMENTS FOR EFFECTIVE SEGMENTATION
Undifferentiated Differentiated
Marketing Marketing
TARGETING BROADLY
Concentrated
(Niche) Micromarketing
Marketing
TARGETING NARROWLY
1. UNDIFFERENTIATED MARKETING
A strategy in which a
firm decides to target
several market segments
and designs separate
offers for each.
HUL
Home Care
Personal Care
Water Purifier
Pure It
3. CONCENTRATED (NICHE) MARKETING
Especially used when the Company has
limited resources
Instead of focusing on getting small share in
the whole market, the Company tries to
identify a small segment and thereby gains
large share in that niche (narrow/small)
segment.
Apple (PC market V/s music download
market)
Johnson & Johnson (Baby products)
LEVEL/APPROACHES OF MARKET
TARGETING…
Nice Marketing/ Concentrated Marketing
4. MICROMARKETING
Local marketing
Individual marketing
A) LOCAL MARKETING