Segmentation and Targeting in Marketing

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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

    1. 1. SEGMENTATION AND TARGETING IN MARKETING Prof. Sameer Mathur, Ph.D.
    2. 2. Agenda What is Segmentation Segmentation Bases Target Marketing Strategies
    3. 3. Sameer Mathur BuddingMarkets.com Indian Institute of Management, Lucknow Marketing Professor 2013 – Marketing Professor 2009 – 2013 Ph.D. and M.S. (Marketing) 2003 – 2009
    4. 4. Segmentation – Targeting – Positioning Segmentation • Identify Bases for Segmentation Targeting • Measure Segment Attractiveness • Select Target Segments Positioning • Develop Marketing Mix for each target segment
    5. 5. Segmentation Dividing a market into distinct groups with distinct needs, characteristics, or behaviors. Each segment may require a separate product or Marketing Mix.
    6. 6. Segments
    7. 7. Linking Market Need to a Marketing Program
    8. 8. Segmentation Bases Geographic Demographic Psychographic Behavioral
    9. 9. Geographic Segmentation Country Neighborhood State/Province Density City Climate
    10. 10. Demographic Segmentation Age Gender Occupation Education Marital Status Religion Family size Family life cycle Race Generation Income Nationality
    11. 11. Baby Demographic – Marketing Across Generations Boomers Generation X Generation Y Mature Market 1945 1965 1976 1994
    12. 12. Mature (pre 1945)
    13. 13. Baby Boomers (1945 – 1965)
    14. 14. Generation X (1965 – 1976)
    15. 15. Generation Y (1976 – 1994)
    16. 16. Behavioral Segmentation • Low Price • High Service Quality Benefits Sought • First-time User • Ex-User User Status • Light • Heavy Usage Rates • None • Medium Loyalty
    17. 17. BEER and the 80-20 rule 88% of Beer is drunk by 16% of consumers
    18. 18. Loyalty Cards
    19. 19. Baby Products
    20. 20. Psychographic Segmentation Personality based • Blackberry addicts Lifestyle based • Harley Davidson owners
    21. 21. What Segmentation Basis is this?
    22. 22. What Segmentation Basis is this?
    23. 23. Segmenting International Markets Geographic segmentation Economic factors • Population income • Level of Economic development Political/ Legal factors • Bureaucracy Cultural factors • Language • Religion
    24. 24. DELL Across the Globe
    25. 25. Requirements for Effective Segmentation • 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
    26. 26. Segmentation – Targeting – Positioning Segmentation • Identify Bases for Segmentation Targeting • Measure Segment Attractiveness • Select Target Segments Positioning • Develop Marketing Mix for each target segment
    27. 27. Target Market A set of buyers sharing common needs or characteristics that a company decides to serve.
    28. 28. Who should we sell to?
    29. 29. Evaluating Segment Attractiveness Segment size and growth Structural Attractiveness • Level of competition • Substitute products • Power of buyers/suppliers Company objectives and resources
    30. 30. Factors Driving a Target Marketing Strategy Company Resources Degree of Product Variability Product Life Cycle Stage Competitors’ Marketing Strategies
    31. 31. Selling Ice Cream to Eskimos
    32. 32. Unilever sells 8 Brands of Soap in India
    33. 33. Who does Target target?
    34. 34. Target Marketing Strategies
    35. 35. Dude, You’re Getting a DELL Browse Dell’s line of laptops at www.dell.com. Identify Dell’s market segmentation bases. Discuss Dell’s target segments.
    36. 36. Summary What is Segmentation Segmentation Bases Target Marketing Strategies
    37. 37. Read this book “This book is the bible of Marketing” Prof. Sameer Mathur
    38. 38. Over 1 Million views from more than 100 countries Prof. Sameer Mathur Top 1% most viewed Over 250 presentations on Marketing www.BuddingMarkets.com

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