Segmentation, Targeting and
Differentiation
Prepared and Presented by:
Lyncia Noronha 40
Palak Goyal 42
SYBMS
Segmentation
Meaning


Market segmentation is a marketing
strategy that involves dividing a
broad target market into subsets
of consum...
Product differentiation


Market segments allow companies to
create product differentiation strategies
to target them.

2...
Market Segmentation Strategies


Traditional Approaches to Market
Segmentation



Mass Marketing
Differentiated Marketi...
Bases for Segmenting
Consumer Markets


Behavioral Segmentation




Demographic Segmentation




Segments based on de...
Segmenting Consumer Markets




Sometimes, multiple attributes are combined
to form segments
Multi-attribute segmentatio...
Segmenting Business Markets


Rackman and Vincentis proposed a
segmentation scheme that classifies
business buyers into t...
Segmentation, Marketing Mix,
and Targeting
Creating the Marketing Mix
PRODUCT

PRICE

23 February 2014

PLACE

PROMOTION College
Marketing Presentation
Wilson

10
Goals for Marketing Mix







Create synergies
Use resources
effectively
Maintain consistent and
differentiated image...
Mass Marketing Strategy
Product

Price

Distribution

Promotion

Single
Marketing Mix

All Customers
in the Market

Undiff...
Multisegment Strategy
Product

Price

Distribution

Promotion

Product

Price

Distribution

Promotion

Multiple
Marketing...
Market Concentration Strategy

Product

Price

Distribution

Promotion

Single
Marketing Mix
Differentiated
23 February 20...
Niche Marketing Strategy

Product

Price

Distribution

Promotion

Focused on a Small
Niche Market Segment

Single
Marketi...
Customized Marketing Strategy
Product

Price

Distribution

Promotion

Product

Price

Unique
Marketing
Mixes
23 February ...
Target Marketing Strategies


Five basic strategies for target market
selection:






(1) Single Segment Targeting
...
Basic Target Marketing Strategies

23 February 2014

Marketing Presentation

Wilson College

18
Discussion Question

Can you think of a product that could be
marketed effectively using a mass
marketing approach? If so,...
Discussion Question

Many consumers and consumer advocates
are critical of the one-to-one marketing
approach due to person...
Discussion Question

What are some of the ethical and legal
issues involved in targeting sensitive
groups such as children...
T

23 February 2014

Marketing Presentation

Wilson College

22
Upcoming SlideShare
Loading in...5
×

Seg.tgt.dif.

101

Published on

Segmentation Targeting Diffrentiation

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
101
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Seg.tgt.dif.

  1. 1. Segmentation, Targeting and Differentiation Prepared and Presented by: Lyncia Noronha 40 Palak Goyal 42 SYBMS
  2. 2. Segmentation
  3. 3. Meaning  Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target their needs and desires using media channels and other touch-points that best allow to reach them. 23 February 2014 Marketing Presentation Wilson College 3
  4. 4. Product differentiation  Market segments allow companies to create product differentiation strategies to target them. 23 February 2014 Marketing Presentation Wilson College 4
  5. 5. Market Segmentation Strategies  Traditional Approaches to Market Segmentation   Mass Marketing Differentiated Marketing    Multisegment Approach Market Concentration Approach Niche Marketing 23 February 2014 Marketing Presentation Wilson College 5
  6. 6. Bases for Segmenting Consumer Markets  Behavioral Segmentation   Demographic Segmentation   Segments based on demographic factors (e.g., gender, age, income, education, etc.) Psychographic Segmentation   Segments based on actual behavior or product usage Segments based on state-of-mind issues (e.g., motives, attitudes, opinions, values, lifestyles, interests, personality, etc.) Geographic Segmentation  Segments based on geographic location 23 February 2014 Marketing Presentation Wilson College 6
  7. 7. Segmenting Consumer Markets   Sometimes, multiple attributes are combined to form segments Multi-attribute segmentation via geoclustering combines multiple variables to identify smaller, better-defined target groups  PRIZM Geoclustering system uses demographic, geographic, lifestyle, and behavioral characteristics 23 February 2014 Marketing Presentation Wilson College 7
  8. 8. Segmenting Business Markets  Rackman and Vincentis proposed a segmentation scheme that classifies business buyers into three groups:    Price-oriented customers: best served via transactional selling Solution-oriented customers: best served by means of consultative selling Strategic-value customers: best served by means of enterprise selling 23 February 2014 Marketing Presentation Wilson College 8
  9. 9. Segmentation, Marketing Mix, and Targeting
  10. 10. Creating the Marketing Mix PRODUCT PRICE 23 February 2014 PLACE PROMOTION College Marketing Presentation Wilson 10
  11. 11. Goals for Marketing Mix     Create synergies Use resources effectively Maintain consistent and differentiated image Link to specific marketing goals and objectives 23 February 2014 Marketing Presentation Wilson College 11
  12. 12. Mass Marketing Strategy Product Price Distribution Promotion Single Marketing Mix All Customers in the Market Undifferentiated 23 February 2014 Marketing Presentation Wilson College 12
  13. 13. Multisegment Strategy Product Price Distribution Promotion Product Price Distribution Promotion Multiple Marketing Mixes 23 February 2014 Differentiated Marketing Presentation More Than One Market Segment Wilson College 13
  14. 14. Market Concentration Strategy Product Price Distribution Promotion Single Marketing Mix Differentiated 23 February 2014 Marketing Presentation Focused on a Single Market Segment Wilson College 14
  15. 15. Niche Marketing Strategy Product Price Distribution Promotion Focused on a Small Niche Market Segment Single Marketing Mix Differentiated 23 February 2014 Marketing Presentation Wilson College 15
  16. 16. Customized Marketing Strategy Product Price Distribution Promotion Product Price Unique Marketing Mixes 23 February 2014 Distribution Promotion Individual Customers Marketing Presentation Wilson College 16
  17. 17. Target Marketing Strategies  Five basic strategies for target market selection:      (1) Single Segment Targeting (2) Selective Targeting (3) Mass Market Targeting (4) Product Specialization (5) Market Specialization 23 February 2014 Marketing Presentation Wilson College 17
  18. 18. Basic Target Marketing Strategies 23 February 2014 Marketing Presentation Wilson College 18
  19. 19. Discussion Question Can you think of a product that could be marketed effectively using a mass marketing approach? If so, explain and justify your answer. If not, what types of changes would have to be made to the product to make it appropriate for a mass marketing approach? 23 February 2014 Marketing Presentation Wilson College 19
  20. 20. Discussion Question Many consumers and consumer advocates are critical of the one-to-one marketing approach due to personal privacy concerns. Marketers counter that one-to-one marketing can lead to privacy abuses, but that the benefits to both consumers and marketers far outweigh the risks. Where do you stand on this issue? Why? 23 February 2014 Marketing Presentation Wilson College 20
  21. 21. Discussion Question What are some of the ethical and legal issues involved in targeting sensitive groups such as children and seniors? 23 February 2014 Marketing Presentation Wilson College 21
  22. 22. T 23 February 2014 Marketing Presentation Wilson College 22
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×