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Top 10 concepts (Revised)
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Top 10 concepts (Revised)

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Top 10 concepts (Revised) Top 10 concepts (Revised) Presentation Transcript

  • Identifying Market Segments and Targets Rold ON TIME Top 10 Concepts harold ceasar t. verayo May 2010
  • Outline
    • Selecting a Target Market
    • Identifying different types of market
    • Role of Market Segmentation
    • Criteria for Effective Segmentation
    • Segmenting Consumer Markets
      • Geographic
      • Demographic
      • Psychographic
      • Product Related
    • Strategies for reaching target markets
    • Market Segmentation Process
  • Types of Market Consumer Products Business Products
  • Market Segmentation
  • Criteria for Effective Segmentation Measurable Promotable Profitable
  • Segmenting Consumer Markets
  • Undifferentiated marketing MASS MARKETING
  • Differentiated Marketing
  • Concentrated marketing Niche Marketing
  • Micromarketing
  • Selecting and Executing a Strategy
      • No single, best choice strategy suits all firms
      • Determinants of a market-specific strategy:
        • Company resources
        • Product homogeneity
        • Stage in the product life-cycle
        • Competitors’ strategy
    • Stage I: Identify Segmentation Process
    • Stage II: Develop Relevant Profile
    • Stage III: Forecast Market Potential
    • Stage IV: Forecast Market Share
    • Stage V: Select Specific Segment
    The Market Segmentation Process
  • Summary
    • Before a marketing mix strategy can be implemented, the marketer must identify, evaluate, and select a target market.
    • The key to classification is to identify the purchaser and the reasons for buying the goods.
    • Market Segmentation: division of the total market into smaller, relatively homogeneous groups
    • No single marketing mix can satisfy everyone. Therefore, separate marketing mixes should be used for different market segments.
  • Identifying Market Segments and Targets Rold ON TIME Top 10 Concepts harold ceasar t. verayo May 2010