Marketing Strategy: Creating Value for Target Customers INDEX SL.NO. TOPICS PAGE NO. 1. Market segmentation 1 2. Segmenting consumer markets 2-4 3. Segmenting business markets 4 4. Segmenting International markets 5 5. Requirements for effective segmentation 5-6 6. Market targeting
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segment the market‚ the organization can identify which customers that can match with their products and services. In Dell‚ the segmentation is a backbone for them. There are two segmentation criteria in Dell; segmenting consumer market and segmenting business market. In the segmenting consumer markets‚ there are geographic‚ demographic‚ socio-economic‚ behaviour and psychographic segmentation. In Dell‚ the purpose to segment the consumer markets is focus to the personal users or for home users
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economies of scale Less investment for marketing More difficult to develop a marketing mix Profit is the balancing point Dimensions for Segmenting Markets All potential dimensions Customers have the money to buy clothes They go shopping in a mall Qualifying dimensions Determining dimensions (Product) Determining dimensions (Brand) Segmenting Dimensions May be of many types: demographic‚ geographic‚ behavioral etc. Can
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CHAP TER 5 Market Segmenting‚ Targeting‚ and Positioning C O M P E T E N C Y O B J E C T I V E S F O R M A S T E R Y 1. Identify the role of market segmentation in developing a marketing strategy. 2. Identify criteria for market segmentation. 3. Identify common types of positioning strategies. Suppose you’ve created a great new offering you hope will become a hot seller. Before you quit your day job to market it‚ you’ll need to ask yourself‚ “Who’s going to buy my product
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you can more efficiently market to. Both consumer-oriented and business-oriented companies should segment customers using one of several common approaches. Demographics Demographic market segmentation is one of the most common approaches to segmenting markets. With this strategy‚ a company simply divides the larger market into groups based on several defined traits. Age‚ race‚ gender‚ marital status‚ occupation‚ education and income are among the commonly considered demographics segmentation
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Segmentation Segmenting Consumer Markets Demographic segmentation divides the market into groups based on variables such as age‚ gender‚ family size‚ family life cycle‚ income‚ occupation‚ education‚ religion‚ ethnics‚ generation‚ and nationality It is the most popular segmentation method‚ because consumer needs‚ wants‚ and usage often vary closely with demographic variables‚ and they are easier to measure than other types of variables. Market Segmentation Segmenting Consumer Markets
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Chapter 7- slide 4 Market Segmentation • Segmenting consumer markets • Segmenting business markets • Segmenting international markets • Requirements for effective segmentation Copyright © 2010 Pearson Education‚ Inc. Publishing as Prentice Hall Chapter 7- slide 5 Market Segmentation Segmenting Consumer Markets Copyright © 2010 Pearson Education‚ Inc. Publishing as Prentice Hall Chapter 7- slide 6 Market Segmentation Segmenting Consumer Markets • Geographic segmentation divides the
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consumers (positioning). Chapter Objectives: 1. Define the four major steps in designing a customer-driven marketing strategy: market segmentation‚ market targeting‚ differentiation‚ and positioning 2. List and discuss the major bases for segmenting consumer and business markets 3. Explain how companies identify attractive market segments and choose a market targeting strategy 4. Discuss how companies differentiate and position their products for maximum competitive advantage in the marketplace
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National Trust 1. Use a SWOT analysis to explore the internal and external issues affecting the National Trust. “SWOT analysis focuses on Strengths‚ weaknesses‚ opportunities and threats facing the organisation”. (Mullins and Christy‚ 2010. P.545). According to the case study‚ National Trust is a non-profit organisation‚ which is managed by small Board of Trustees. The organisation is totally independent from government‚ and owns a huge number of properties includes historic houses‚ villages
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risk by multiplying the number of locations through the franchisees’ investment. SWOT analysis Market segmentation and targeting - Segmenting and Targeting the market* -Zara’s target customers are paying attention in high trends and want to have the latest fashion trends. -Geography‚ demographic‚ psychographic‚ benefits‚ and usage rate are the main bases for segmenting consumer markets. -Demographic segmentation plays a big role for Zara. -It includes gender‚ age‚ ethical norms‚ and family life
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