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TOP 10 Learning Questions for Chapter 8 Identifying Market Segments and Targets Brian T. Bejerano December 16, 2010 Market...
1. What are the 4 bases for segmenting consumer markets? <ul><li>Segments, Niches, Local Areas, Individuals </li></ul><ul>...
Bases for Segmenting Consumer Markets <ul><li>Geographic </li></ul><ul><li>Demographic </li></ul><ul><li>Psychographic </l...
Bases for Segmenting Consumer Markets <ul><li>Geographic  – divides the market into different geographical units such as n...
Bases for Segmenting Consumer Markets <ul><li>Psychographic  – buyers are divided into different groups on the basis of ps...
1. What are the 4 bases for segmenting consumer markets? <ul><li>Segments, Niches, Local Areas, Individuals </li></ul><ul>...
2. Under the Psychographic Segmentation, what are the four groups with higher resources? <ul><li>Innovators, Thinkers, Ach...
VALS Segmentation System http://brianbejerano13.blogspot.com/
Four Groups with Higher Resources <ul><li>Innovators  – successful, sophisticated, active, take charge people with high se...
2. Under the Psychographic Segmentation, what are the four groups with higher resources? <ul><li>Innovators, Thinkers, Ach...
3. Under the Psychographic Segmentation, what are the four groups with lower resources? <ul><li>Believers, Strivers, Maker...
VALS Segmentation System http://brianbejerano13.blogspot.com/
Four Groups with Lower Resources <ul><li>Believers  – conservative, conventional, and traditional people with concrete bel...
3. Under the Psychographic Segmentation, what are the four groups with lower resources? <ul><li>Believers, Strivers, Maker...
4. Behavioral Segmentation; Initiator, infuencer, decider, buyer, and user are roles under _____________. <ul><li>Behavior...
Behavioral Segmentation <ul><li>Decision Roles Behavioral Variables </li></ul><ul><li>Initiator Occasions </li></ul><ul><l...
Decision Roles <ul><li>People play five roles in a buying decision: Initiator, Influencer, Decider, Buyer, and User.  </li...
4. Behavioral Segmentation; Initiator, infuencer, decider, buyer, and user are roles under _____________. <ul><li>Behavior...
5. Which of the following is true? <ul><li>Hard Core loyals can help identify the products’ strengths </li></ul><ul><li>Th...
Loyalty Status http://brianbejerano13.blogspot.com/ Hard Core Loyals Split Loyals Shifting Loyals Switchers
Loyalty Status <ul><li>Marketers usually envision four groups based on brand loyalty status:  </li></ul><ul><li>Hard core ...
5. Which of the following is true? <ul><li>Hard Core loyals can help identify the products’ strengths </li></ul><ul><li>Th...
6. The conversion Model measures the strength of consumers’ _____________ to brands and their openness to change <ul><li>P...
The Conversion Model <ul><li>Convertible  Shallow  Average  Entrenched </li></ul><ul><li>Strongly  Weakly  Ambivalent  Ava...
Conversion Model <ul><li>The conversion model measures the strength of consumer’s  psychological commitment  to brands and...
6. The conversion Model measures the strength of consumers’ _____________ to brands and their openness to change <ul><li>P...
7. Which of the following is True? <ul><li>The size, purchasing power, and characteristics of the segments can be measured...
Effective Segmentation Criteria <ul><li>Measurable </li></ul><ul><li>Substantial </li></ul><ul><li>Accessible </li></ul><u...
Effective Segmentation Criteria <ul><li>Measurable  - The size, purchasing power, and characteristics of the segments can ...
7. Which of the following is True? <ul><li>The size, purchasing power, and characteristics of the segments can be measured...
8. We can target markets at: <ul><li>5 levels: demographics, behavioral, geographic, psychographic, niches </li></ul><ul><...
Four Levels of Micromarketing <ul><li>Segments </li></ul><ul><li>Niches </li></ul><ul><li>Local Areas </li></ul><ul><li>In...
Four Levels of Micromarketing <ul><li>We can target markets at four levels:  segments, niches, local areas, and individual...
8. We can target markets at: <ul><li>5 levels: demographics, behavioral, geographic, psychographic, niches </li></ul><ul><...
9. Which statement is true about an attractive niche? <ul><li>Niche gains certain economies through specialization </li></...
Four Levels of Micromarketing <ul><li>Segments </li></ul><ul><li>Niches </li></ul><ul><li>Local Areas </li></ul><ul><li>In...
Niche Marketing <ul><li>A  Niche  is a more narrowly defined customer group seeking a distinctive mix of benefits. Markete...
9. Which statement is true about an attractive niche? <ul><li>Niche gains certain economies through specialization </li></...
10. What is the ultimate level of segmentation? <ul><li>Local Marketing </li></ul><ul><li>Demographic Segmentation </li></...
Four Levels of Micromarketing <ul><li>Segments </li></ul><ul><li>Niches </li></ul><ul><li>Local Areas </li></ul><ul><li>In...
Individual Marketing <ul><li>The ultimate level of segmentation leads to “segments of one,” “customized marketing,” or “on...
10. What is the ultimate level of segmentation? <ul><li>Local Marketing </li></ul><ul><li>Demographic Segmentation </li></...
Reference <ul><li>Reference: </li></ul><ul><li>Marketing Management (13th Edition) </li></ul><ul><li>Philip Kotler and Kev...
TOP 10 Learning Questions for Chapter 8 Identifying Market Segments and Targets Brian T. Bejerano December 16, 2010 Market...
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Transcript of "Ch8 identifying market segments and targets bejerano"

  1. 1. TOP 10 Learning Questions for Chapter 8 Identifying Market Segments and Targets Brian T. Bejerano December 16, 2010 Marketing Management Class of Prof. Remigio Joseph De Ungria http://brianbejerano13.blogspot.com/
  2. 2. 1. What are the 4 bases for segmenting consumer markets? <ul><li>Segments, Niches, Local Areas, Individuals </li></ul><ul><li>Demographic, Operating Variable, Situational Factors, Personal Characteristics </li></ul><ul><li>Life Stage, Gender, Income, Social Class </li></ul><ul><li>Geographic, Demographic, Psychographic, Behavioral </li></ul><ul><li>None of the Above </li></ul>http://brianbejerano13.blogspot.com/
  3. 3. Bases for Segmenting Consumer Markets <ul><li>Geographic </li></ul><ul><li>Demographic </li></ul><ul><li>Psychographic </li></ul><ul><li>Behavioral </li></ul>http://brianbejerano13.blogspot.com/
  4. 4. Bases for Segmenting Consumer Markets <ul><li>Geographic – divides the market into different geographical units such as nations, states, regions, counties, cities, or neighborhoods </li></ul><ul><li>Demographic – divides markets into groups on the basis of variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, and social class </li></ul>http://brianbejerano13.blogspot.com/
  5. 5. Bases for Segmenting Consumer Markets <ul><li>Psychographic – buyers are divided into different groups on the basis of psychological / personality traits, lifestyle, or values </li></ul><ul><li>Behavioral – buyers are divided in groups on the basis of their knowledge of, attitude toward, use of, or response to a product </li></ul>http://brianbejerano13.blogspot.com/
  6. 6. 1. What are the 4 bases for segmenting consumer markets? <ul><li>Segments, Niches, Local Areas, Individuals </li></ul><ul><li>Demographic, Operating Variable, Situational Factors, Personal Characteristics </li></ul><ul><li>Life Stage, Gender, Income, Social Class </li></ul><ul><li>Geographic, Demographic, Psychographic, Behavioral </li></ul><ul><li>None of the Above </li></ul>http://brianbejerano13.blogspot.com/
  7. 7. 2. Under the Psychographic Segmentation, what are the four groups with higher resources? <ul><li>Innovators, Thinkers, Achievers, Experiencer </li></ul><ul><li>Believers, Strivers, Makers, Survivors </li></ul><ul><li>Innovators, Strivers, Achievers, Makers </li></ul><ul><li>Enthusiasts, Image Seekers, Makers, Believers </li></ul><ul><li>Traditionalist, Strivers, Believers, Innovators </li></ul>http://brianbejerano13.blogspot.com/
  8. 8. VALS Segmentation System http://brianbejerano13.blogspot.com/
  9. 9. Four Groups with Higher Resources <ul><li>Innovators – successful, sophisticated, active, take charge people with high self esteem </li></ul><ul><li>Thinkers – mature, satisfied, and reflective people who are motivated by ideals and who value order, knowledge, and responsibility </li></ul><ul><li>Achievers – successful, goal oriented people who focus on career and family. </li></ul><ul><li>Experiencer – young, enthusiastic, impulsive people who seek variety and excitement </li></ul>http://brianbejerano13.blogspot.com/
  10. 10. 2. Under the Psychographic Segmentation, what are the four groups with higher resources? <ul><li>Innovators, Thinkers, Achievers, Experiencer </li></ul><ul><li>Believers, Strivers, Makers, Survivors </li></ul><ul><li>Innovators, Strivers, Achievers, Makers </li></ul><ul><li>Enthusiasts, Image Seekers, Makers, Believers </li></ul><ul><li>Traditionalist, Strivers, Believers, Innovators </li></ul>http://brianbejerano13.blogspot.com/
  11. 11. 3. Under the Psychographic Segmentation, what are the four groups with lower resources? <ul><li>Believers, Strivers, Makers, Survivors </li></ul><ul><li>Innovators, Strivers, Achievers, Makers </li></ul><ul><li>Traditionalist, Strivers, Believers, Innovators </li></ul><ul><li>Innovators, Thinkers, Achievers, Experiencer </li></ul><ul><li>None of the above </li></ul>http://brianbejerano13.blogspot.com/
  12. 12. VALS Segmentation System http://brianbejerano13.blogspot.com/
  13. 13. Four Groups with Lower Resources <ul><li>Believers – conservative, conventional, and traditional people with concrete beliefs </li></ul><ul><li>Strivers – trendy and fun loving people who are resource constrained </li></ul><ul><li>Makers – practical, down to earth, self sufficient people who like to work with their hands </li></ul><ul><li>Survivors – elderly, passive, people who are concerned about change </li></ul>http://brianbejerano13.blogspot.com/
  14. 14. 3. Under the Psychographic Segmentation, what are the four groups with lower resources? <ul><li>Believers, Strivers, Makers, Survivors </li></ul><ul><li>Innovators, Strivers, Achievers, Makers </li></ul><ul><li>Traditionalist, Strivers, Believers, Innovators </li></ul><ul><li>Innovators, Thinkers, Achievers, Experiencer </li></ul><ul><li>None of the above </li></ul>http://brianbejerano13.blogspot.com/
  15. 15. 4. Behavioral Segmentation; Initiator, infuencer, decider, buyer, and user are roles under _____________. <ul><li>Behavioral Variables </li></ul><ul><li>Decision Roles </li></ul><ul><li>User Status </li></ul><ul><li>Attitude </li></ul><ul><li>Age and Life Cycle </li></ul>http://brianbejerano13.blogspot.com/
  16. 16. Behavioral Segmentation <ul><li>Decision Roles Behavioral Variables </li></ul><ul><li>Initiator Occasions </li></ul><ul><li>Influencer Benefits </li></ul><ul><li>Decider User Status </li></ul><ul><li>Buyer Usage Rate </li></ul><ul><li>User Buyer Readiness </li></ul><ul><li>Loyalty Status </li></ul><ul><li>Attitude </li></ul>http://brianbejerano13.blogspot.com/
  17. 17. Decision Roles <ul><li>People play five roles in a buying decision: Initiator, Influencer, Decider, Buyer, and User. </li></ul><ul><li>e.g. Assume a wife initiates a purchase by requesting a new treadmill for her birthday. The husband may seek information from many sources, including his best friend who has a treadmill and is a key influencer in what models to consider. After presenting the alternative choices to his wife, he then purchases her preferred model which, as it turns out, ends up being used by the entire family. Different people are playing different roles, but all are crucial in the decision process and ultimate satisfaction. </li></ul>
  18. 18. 4. Behavioral Segmentation; Initiator, infuencer, decider, buyer, and user are roles under _____________. <ul><li>Behavioral Variables </li></ul><ul><li>Decision Roles </li></ul><ul><li>User Roles </li></ul><ul><li>Attitude </li></ul><ul><li>Age and Life Cycle </li></ul>http://brianbejerano13.blogspot.com/
  19. 19. 5. Which of the following is true? <ul><li>Hard Core loyals can help identify the products’ strengths </li></ul><ul><li>The conversion model measures the effectiveness of consumer psychological commitment </li></ul><ul><li>Switchers are not considered group based on brand loyalty </li></ul><ul><li>Shifting loyals show no loyalty to any brand </li></ul><ul><li>None of the above </li></ul>http://brianbejerano13.blogspot.com/
  20. 20. Loyalty Status http://brianbejerano13.blogspot.com/ Hard Core Loyals Split Loyals Shifting Loyals Switchers
  21. 21. Loyalty Status <ul><li>Marketers usually envision four groups based on brand loyalty status: </li></ul><ul><li>Hard core loyals – consumers who buy only one brand all the time – helps identify the products’ strengths </li></ul><ul><li>Split loyals – consumers who are loyal to two or three brands – show the firm which brands are most competitive with its own </li></ul><ul><li>Shifting loyals – consumers who shift loyalty from one brand to another – company can learn weaknesses and attempt to correct them </li></ul><ul><li>Switchers – consumers who show no loyalty to any brand </li></ul>http://brianbejerano13.blogspot.com/
  22. 22. 5. Which of the following is true? <ul><li>Hard Core loyals can help identify the products’ strengths </li></ul><ul><li>The conversion model measures the effectiveness of consumer psychological commitment </li></ul><ul><li>Switchers are not considered group based on brand loyalty </li></ul><ul><li>Shifting loyals show no loyalty to any brand </li></ul><ul><li>None of the above </li></ul>http://brianbejerano13.blogspot.com/
  23. 23. 6. The conversion Model measures the strength of consumers’ _____________ to brands and their openness to change <ul><li>Philosophical Analogy </li></ul><ul><li>Psychological Commitment </li></ul><ul><li>Attitude </li></ul><ul><li>Purchase Patterns </li></ul><ul><li>Brand Loyalty </li></ul>http://brianbejerano13.blogspot.com/
  24. 24. The Conversion Model <ul><li>Convertible Shallow Average Entrenched </li></ul><ul><li>Strongly Weakly Ambivalent Available </li></ul><ul><li>Unavailable Unavailable </li></ul>http://brianbejerano13.blogspot.com/ Users Non-Users
  25. 25. Conversion Model <ul><li>The conversion model measures the strength of consumer’s psychological commitment to brands and their openness to change. The model determines how easily a consumer can be converted to another choice; assesses commitment based on consumer attitudes towards, and satisfaction with, current brand choices. </li></ul>http://brianbejerano13.blogspot.com/
  26. 26. 6. The conversion Model measures the strength of consumers’ _____________ to brands and their openness to change <ul><li>Philosophical Analogy </li></ul><ul><li>Psychological Commitment </li></ul><ul><li>Attitude </li></ul><ul><li>Purchase Patterns </li></ul><ul><li>Brand Loyalty </li></ul>http://brianbejerano13.blogspot.com/
  27. 27. 7. Which of the following is True? <ul><li>The size, purchasing power, and characteristics of the segments can be measured </li></ul><ul><li>The segments can be effectively reached and served </li></ul><ul><li>Effective programs can be formulated for attracting and serving the segments </li></ul><ul><li>The segments are conceptually distinguishable and respond differently to different marketing mix elements and programs </li></ul><ul><li>All of the above </li></ul>http://brianbejerano13.blogspot.com/
  28. 28. Effective Segmentation Criteria <ul><li>Measurable </li></ul><ul><li>Substantial </li></ul><ul><li>Accessible </li></ul><ul><li>Differentiable </li></ul><ul><li>Actionable </li></ul>http://brianbejerano13.blogspot.com/
  29. 29. Effective Segmentation Criteria <ul><li>Measurable - The size, purchasing power, and characteristics of the segments can be measured </li></ul><ul><li>Substantial – the segments are enlarged and profitable enough to serve </li></ul><ul><li>Accessible - The segments can be effectively reached and served </li></ul><ul><li>Differentiable - The segments are conceptually distinguishable and respond differently to different marketing mix elements and programs </li></ul><ul><li>Actionable - Effective programs can be formulated for attracting and serving the segments </li></ul>http://brianbejerano13.blogspot.com/
  30. 30. 7. Which of the following is True? <ul><li>The size, purchasing power, and characteristics of the segments can be measured </li></ul><ul><li>The segments can be effectively reached and served </li></ul><ul><li>Effective programs can be formulated for attracting and serving the segments </li></ul><ul><li>The segments are conceptually distinguishable and respond differently to different marketing mix elements and programs </li></ul><ul><li>All of the above </li></ul>http://brianbejerano13.blogspot.com/
  31. 31. 8. We can target markets at: <ul><li>5 levels: demographics, behavioral, geographic, psychographic, niches </li></ul><ul><li>4 levels: segments, niches, local areas, individuals </li></ul><ul><li>4 levels: hard core, split loyals, switchers, shifting loyals </li></ul><ul><li>3 levels: life stage, generation, social class </li></ul><ul><li>None of the above </li></ul>http://brianbejerano13.blogspot.com/
  32. 32. Four Levels of Micromarketing <ul><li>Segments </li></ul><ul><li>Niches </li></ul><ul><li>Local Areas </li></ul><ul><li>Individuals </li></ul>http://brianbejerano13.blogspot.com/ http://brianbejerano13.blogspot.com/
  33. 33. Four Levels of Micromarketing <ul><li>We can target markets at four levels: segments, niches, local areas, and individuals . Market segments are large identifiable groups within a market. A niche is a more narrowly defined group. Globalization and the internet have made niche marketing more feasible to many. Marketers appeal to local markets through grassroots marketing for trading areas, neighborhoods, and even individual stores. </li></ul>http://brianbejerano13.blogspot.com/
  34. 34. 8. We can target markets at: <ul><li>5 levels: demographics, behavioral, geographic, psychographic, niches </li></ul><ul><li>4 levels: segments, niches, local areas, individuals </li></ul><ul><li>4 levels: hard core, split loyals, switchers, shifting loyals </li></ul><ul><li>3 levels: life stage, generation, social class </li></ul><ul><li>None of the above </li></ul>http://brianbejerano13.blogspot.com/
  35. 35. 9. Which statement is true about an attractive niche? <ul><li>Niche gains certain economies through specialization </li></ul><ul><li>Niche is fairly small but has size, profit, and growth potential </li></ul><ul><li>Customers will be willing to pay a premium that best satisfies them </li></ul><ul><li>Unlikely to attract competitors </li></ul><ul><li>All of the above </li></ul>http://brianbejerano13.blogspot.com/
  36. 36. Four Levels of Micromarketing <ul><li>Segments </li></ul><ul><li>Niches </li></ul><ul><li>Local Areas </li></ul><ul><li>Individuals </li></ul>
  37. 37. Niche Marketing <ul><li>A Niche is a more narrowly defined customer group seeking a distinctive mix of benefits. Marketers usually identify niches by dividing a segment into subsegments. What does an attractive Niche look like? Customers have a distinct set of needs; they will pay a premium to the firm that best satisties them; the niche is fairly small but has size, profit, and growth potential and is unlikely to attract many other competitors; and the nicher gains certain economies through specialization. </li></ul>
  38. 38. 9. Which statement is true about an attractive niche? <ul><li>Niche gains certain economies through specialization </li></ul><ul><li>Niche is fairly small but has size, profit, and growth potential </li></ul><ul><li>Customers will be willing to pay a premium to the niche that best satisfies them </li></ul><ul><li>Unlikely to attract competitors </li></ul><ul><li>All of the above </li></ul>
  39. 39. 10. What is the ultimate level of segmentation? <ul><li>Local Marketing </li></ul><ul><li>Demographic Segmentation </li></ul><ul><li>Individual Marketing </li></ul><ul><li>Niche Marketing </li></ul><ul><li>Segment Marketing </li></ul>
  40. 40. Four Levels of Micromarketing <ul><li>Segments </li></ul><ul><li>Niches </li></ul><ul><li>Local Areas </li></ul><ul><li>Individuals </li></ul>
  41. 41. Individual Marketing <ul><li>The ultimate level of segmentation leads to “segments of one,” “customized marketing,” or “one to one marketing.” More companies now practice individual and mass customization . The future is likely to see more self marketing – wherein individual consumers take the initiative in designing products and brands </li></ul>
  42. 42. 10. What is the ultimate level of segmentation? <ul><li>Local Marketing </li></ul><ul><li>Demographic Segmentation </li></ul><ul><li>Individual Marketing </li></ul><ul><li>Niche Marketing </li></ul><ul><li>Segment Marketing </li></ul>
  43. 43. Reference <ul><li>Reference: </li></ul><ul><li>Marketing Management (13th Edition) </li></ul><ul><li>Philip Kotler and Kevin Keller </li></ul>
  44. 44. TOP 10 Learning Questions for Chapter 8 Identifying Market Segments and Targets Brian T. Bejerano December 16, 2010 Marketing Management Class of Prof. Remigio Joseph De Ungria http://brianbejerano13.blogspot.com/
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