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Chapter 8 presentation

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  • 1. Chapter 8: Identifying Market Segments and Targets Jesus Martin A. Generoso, Jr. Ateneo School of Medicine and Public Health May 12, 2010 Top 10 Concepts Source: Kotler, P.. Marketing Management. 13th ed.
  • 2. Outline
    • Segment marketing
    • Niche marketing
    • Local marketing
    • Individual marketing
    • Geographical segmentation
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 3. Outline
    • Demographical segmentation
    • Psychodemographic segmentation
    • Behavioral segmentation
    • Segmenting, Evaluating, and Selecting Market Segments
    • Segment-by-segment invasion plan
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 4. Concept 1: Segment Marketing
    • Market segment
      • customers with similar needs and wants
    • With flexible market offerings
      • Naked solution
      • Discretionary options
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 5. Concept 1: Segment Marketing - examples
    • Kotler: Seimens Electrical Apparatus Division – metal clad boxes
    • Local: Cebu Pacific
    • Medical: additional expenses for patient rooms at TMC
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 6. Concept 2: Niche Marketing
    • Niche
      • narrower than a segment
    • Customers have a distinct set of needs
    • Customers are willing to pay a premium
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 7. Concept 2: Niche Marketing - examples
    • Kotler: Enterprise car rental
    • Local: Jusi Barong Tagalog producers
    • Medical: superspecialized medical practitioners
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 8. Concept 3: Local Marketing
    • Tailor-fit to local customer groups
    • “ grassroots marketing”
      • getting as close and personally relevant
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 9. Concept 3: Local Marketing - examples
    • Kotler: Citibank, Nike
    • Local: Get Blued
    • Medical: American Eye sponsoring Efren “Bata” Reyes
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 10. Concept 4: Individual Marketing
    • ultimate level of segmentation
    • Customized marketing or one-to-one marketing
    • Customerization – people can design the product they way they want it
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 11. Concept 4: Individual Marketing - examples
    • Kotler: JackRabbit, SBR MultiSports, and Signature custom bike shops
    • Local: PCXpress – PC/laptop custom assemblies
    • Medical: personalized physical rehabilitation regimens
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 12. Concept 5: Geographical Segmentation
    • Market is divided into different geographical units
      • nations, states, regions, counties, cities, or neighborhoods
    • Company operates in one, two, or all
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 13. Concept 5: Geographical Segmentation - examples
    • Kotler: Hilton Hotels
    • Local: McSpaghetti
    • Medical: Hilot, Ayurveda
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 14. Concept 6: Demographic Segmentation
    • age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, and social class
    • estimate market size and the media that should be used
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 15. Concept 6: Demographic Segmentation - examples
    • Kotler: Crest and Colgate
    • Local: Hapee toothpaste
    • Medical: TMC teen hub
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 16. Concept 7: Psychographic Segmentation
    • psychology and demographics to understand consumers
    • Consumers are grouped by psychological/personality traits, lifestyle, or values
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 17. Concept 7: Psychographic Segmentation - examples
    • Kotler: Transport Canada
    • Local: CityLand - condominium vendors
    • Medical: psychological rehabilitation for drug addicts
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 18. Concept 8: Behavioral Segmentation
    • People divided by their knowledge, attitude toward, use, or response to a product
    • Decision roles - Initiator, Influencer, Decider, Buyer, User
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 19. Concept 8: Behavioral Segmentation
    • Behavioral variables
      • occasions, benefits, user status, usage, buyer-readiness stage, loyalty
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 20. Concept 8: Behavioral Segmentation - examples
    • Kotler: Ocean Spray Cranberries Inc.
    • Local: Red Ribbon cakes
    • Medical: TMC Cardiac Awareness Week
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 21. Concept 9: Segmenting, Evaluating, and Selecting Market Segments
    • Segmenting – 5 criteria
      • Measurable
      • Substantial
      • Accessible
      • Differentiable
      • Actionable
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 22. Concept 9: Segmenting, Evaluating, and Selecting Market Segments Source: Kotler, P.. Marketing Management. 13th ed. Single-segment concentration P1 P2 P3 M1 M2 M3 Selective specialization M1 M2 M3 P1 P2 P3 Product specialization M1 M2 M3 P1 P2 P3 M1 M2 M3 Full market coverage P1 P2 P3 Market specialization M1 M2 M3 P1 P2 P3
  • 23. Concept 9: Segmenting, Evaluating, and Selecting Market Segments - examples
    • Kotler: Volkswagen, Porsche
    • Local: Islander slippers
    • Medical: American Eye Center
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 24. Concept 10: Segment-by-segment invasion plan
    • Company enters 1 segment at a time
    • Kept a secret from other competitors
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 25. Concept 10: Segment-by-segment invasion plan - examples
    • Kotler: PepsiCo, Toyota
    • Local: Bench
    • Medical: The Medical City, interventional cardiologists
    Source: Kotler, P.. Marketing Management. 13th ed.
  • 26. Chapter 8: Identifying Market Segments and Targets Jesus Martin A. Generoso, Jr. Ateneo School of Medicine and Public Health May 12, 2010 Top 10 Concepts Source: Kotler, P.. Marketing Management. 13th ed.