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Segmentation and Targeting in Marketing
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Segmentation and Targeting in Marketing

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Segmentation and Targeting in Marketing. Visit www.buddingmarkets.com for more information

Segmentation and Targeting in Marketing. Visit www.buddingmarkets.com for more information

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  • Mature Market - 14% of the Canadian populationoften referred to as the WWII cohort

Segmentation and Targeting in Marketing Segmentation and Targeting in Marketing Presentation Transcript

  • SEGMENTATION AND TARGETING IN MARKETING Prof. Sameer Mathur, Ph.D.
  • Agenda What is Segmentation Segmentation Bases Target Marketing Strategies
  • Sameer Mathur BuddingMarkets.com Marketing Professor 2009 – 2013 Ph.D. and M.S. (Marketing) 2003 – 2009 Marketing Professor 2013 – Indian Institute of Management, Lucknow
  • Segmentation – Targeting – Positioning Segmentation • Identify Bases for Segmentation Targeting • Measure Segment Attractiveness • Select Target Segments Positioning • Develop Marketing Mix for each target segment
  • Dividing a market into distinct groups with distinct needs, characteristics, or behaviors. Each segment may require a separate product or Marketing Mix. Segmentation
  • Segments
  • Linking Market Need to a Marketing Program
  • Geographic Demographic Psychographic Behavioral Segmentation Bases
  • Country Neighborhood State/Province Density City Climate Geographic Segmentation
  • Age Gender Occupation Education Marital Status Religion Family size Family life cycle Race Generation Income Nationality Demographic Segmentation
  • 1945 1965 1976 1994 Baby Boomers Generation X Generation Y Mature Market Demographic – Marketing Across Generations
  • Mature (pre 1945)
  • Baby Boomers (1945 – 1965)
  • Generation X (1965 – 1976)
  • Generation Y (1976 – 1994)
  • • Low Price • High Service Quality Benefits Sought • First-time User • Ex-User User Status • Light • Heavy Usage Rates • None • Medium Loyalty Behavioral Segmentation
  • 88% of Beer is drunk by 16% of consumers BEER and the 80-20 rule
  • Loyalty Cards
  • Baby Products
  • Personality based • Blackberry addicts Lifestyle based • Harley Davidson owners Psychographic Segmentation
  • What Segmentation Basis is this?
  • What Segmentation Basis is this?
  • Geographic segmentation Economic factors • Population income • Level of Economic development Political/ Legal factors • Bureaucracy Cultural factors • Language • Religion Segmenting International Markets
  • DELL Across the Globe
  • • Measurable Size, purchasing power, and profile of segment • Accessible Can be reached and served • Substantial  Large and profitable enough to serve • Differentiable Respond differently • Actionable Effective programs can be developed Requirements for Effective Segmentation
  • Segmentation – Targeting – Positioning Segmentation • Identify Bases for Segmentation Targeting • Measure Segment Attractiveness • Select Target Segments Positioning • Develop Marketing Mix for each target segment
  • A set of buyers sharing common needs or characteristics that a company decides to serve. Target Market
  • Who should we sell to?
  • Segment size and growth Structural Attractiveness • Level of competition • Substitute products • Power of buyers/suppliers Company objectives and resources Evaluating Segment Attractiveness
  • Company Resources Degree of Product Variability Product Life Cycle Stage Competitors’ Marketing Strategies Factors Driving a Target Marketing Strategy
  • Selling Ice Cream to Eskimos
  • Unilever sells 8 Brands of Soap in India
  • Who does Target target?
  • Target Marketing Strategies
  • Browse Dell’s line of laptops at www.dell.com. Identify Dell’s market segmentation bases. Discuss Dell’s target segments. Dude, You’re Getting a DELL
  • Summary What is Segmentation Segmentation Bases Target Marketing Strategies
  • Over 600,000 views from more than 100 countries http://www.BuddingMarkets.com/ Sameer Mathur BuddingMarkets .com http://www.facebook.com/BuddingMarkets/
  • Read this book “This book is the bible of Marketing” Prof. Sameer Mathur
  • Sameer Mathur smathur.com Free to Download Get These Slides Free