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Identifying Market Segments and Targets Rold ON TIME Top 10 Concepts harold ceasar t. verayo May 2010
Outline <ul><li>Selecting a Target Market </li></ul><ul><li>Identifying  different types of market </li></ul><ul><li>Role ...
<ul><li>Segmenting Consumer Markets </li></ul><ul><ul><li>Geographic </li></ul></ul><ul><ul><li>Demographic </li></ul></ul...
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 <ul><ul><li>No single, best choice strategy suits all firms </li></ul></ul><ul><ul><li>...
<ul><li>Stage I: Identify Segmentation Process </li></ul><ul><li>Stage II: Develop Relevant Profile </li></ul><ul><li>Stag...
Summary <ul><li>Before a marketing mix strategy can be implemented, the marketer must identify, evaluate, and select a tar...
<ul><li>Market Segmentation:   division of the total market into smaller, relatively homogeneous groups </li></ul><ul><li>...
Identifying Market Segments and Targets Rold ON TIME Top 10 Concepts harold ceasar t. verayo May 2010
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Top 10 concepts (Revised)

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Transcript of "Top 10 concepts (Revised)"

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

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