Chapter 2 Market segmentation Schiffman‚ Bednall‚ O’Cass‚ Paladino‚ Ward & Kanuk: Consumer Behaviour 4e © 2007 Pearson Education Australia Chapter Objectives To define market segmentation To review the uses of segmentation To outline the nine main bases of segmentation To understand the main segmentation approaches To outline the criteria for effective market segments To distinguish between concentrated and differentiated marketing Schiffman‚ Bednall‚ O’Cass‚ Paladino‚ Ward &
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Segmentation and customer profile. Segmentation is dividing a market into a smaller groups that shared similar needs‚ wants‚ characteristics‚ and behaviours towards the goods and services. (reference). The market segmentation is a must and important to the all oraganizations. This is because each customers have different needs and wants‚ so that by segment the market‚ the organization can identify which customers that can match with their products and services. In Dell‚ the segmentation is a backbone
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the benefits of IKEA segmenting its Market..... Market Segmentation involves dividing the market into identifiable sections specific to the business’ needs. Market Segmentation will allow IKEA to differentiate their products and to market them more effectively. It may allow them to find a niche in the market which will allow them to gain a competitive edge and possibly gain more market share (in the long run). Market Segmentation will allow IKEA to identify new product opportunities by analysing
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6 Market Segmentation and Positioning Positioning is not what you do to a product; it is what you do to the mind of a prospect. Ries and Trout (1972) Learning outcomes After reading this chapter‚ you will be able to: ✔ Describe the principles of market segmentation and the STP process. ✔ Explain the characteristics and differences between market segmentation and product differentiation. ✔ Explain how market segmentation can be undertaken in both consumer and business-to-business
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To develop a successful marketing strategy‚ it is important to identify the appropriate consumer segments. There are four steps you should perform to conduct the market segmentation process effectively. Step 1: Identify segmented markets The first step of the market segmentation process is to identify the segmented markets. It is important to select the segmenting strategy that most accurately categorizes consumers according to your product or service. For example‚ suppose that your company
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of mass marketing‚ as opposed to segmented marketing? What advantages does a company gain from market segmentation‚ as opposed to treating the market as single entity? MASS MARKETING:- Mass marketing is a market strategy in which firm or industry treat market with single offer or one strategy. In this marketing term wide range of customers and audience are concentrated. As there is no segmentation and focusing concern so large amount of customers are possibly exposed to the product. For example
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Task 1a Occasion and benefit segmentation There are many behavioural characteristics of buyers and consumers and one way to segment these groups is to associate their purchasing habits with Occasional and benefit segmentation. Occasion Segmentation In its simplest form Occasion segmentation is the process of dividing a consumer group or groups into groups according to an occasion or occasions when consumers purchase or use a product or service. For example some major religious/cultural occasions
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Market segmentation is the process of grouping buyers into different categories on the basis of their common needs‚ desires and requirements. It is the strategy of subdividing the target market into sub-groups of consumers with definable‚ distinct and homogeneous characteristics so that a different marketing programme can be set up for each group. This will result in an enhancement in the satisfaction to the consumers and profit to the marketer. According to Professor Philip Kotler‚ “Market Segmentation
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customers satisfied. Competitive Rivalry : In consumer products business Unilever has a large number of competitors and these competitors are in reality very strong. They range from small local corner shop retailer to big giants like P&G‚ Kraft and Nestle. These competitors almost provide equally attractive products and services and sometimes better. These competitors have the power to attract and influence the customers by more attractive substitute‚ prices and marketing techniques. Threat of Substitution
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Home Assignment in Marketing Segmentation‚ Targeting‚ Positioning Prepared by: Eszter Oláh Course: BABS 2. Seminar Leader: József Kapitány Seminar: Every alternate Monday 8.00 9.30 Satisfying people ’s needs and making profit along the way is the purpose of marketing. However‚ people ’s needs differ and therefore satisfying them may require different approaches. Identifying needs and recognising differences between groups of customers
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