Segmentation4

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Segmentation4

  1. 1. Market Segmentation (chapter 5)
  2. 2. Market Segmentation Process Decide segmentation strategy Develop product positioning Divide markets on relevant dimensions Determine consumer needs and wants Delineate firm’s current situation Design marketing mix strategy
  3. 3. Identifying Relevant Dimensions <ul><li>A Priori/Post Hoc </li></ul><ul><li>Useful bases </li></ul><ul><ul><li>geographic </li></ul></ul><ul><ul><li>demographic </li></ul></ul><ul><ul><li>social </li></ul></ul><ul><ul><li>behavior </li></ul></ul><ul><ul><li>thoughts & feelings </li></ul></ul><ul><ul><li>multivariate </li></ul></ul><ul><li>Benefit segmentation </li></ul><ul><ul><li>toothpaste market </li></ul></ul><ul><ul><ul><li>sensory </li></ul></ul></ul><ul><ul><ul><li>sociable </li></ul></ul></ul><ul><ul><ul><li>worrier </li></ul></ul></ul><ul><ul><ul><li>independent </li></ul></ul></ul>
  4. 4. Identifying Relevant Dimensions <ul><li>Psychographic </li></ul><ul><ul><li>the basic approach </li></ul></ul><ul><ul><li>VALS 2 TM </li></ul></ul><ul><ul><li>the dimensions </li></ul></ul><ul><ul><ul><li>resources </li></ul></ul></ul><ul><ul><ul><li>self-orientations </li></ul></ul></ul><ul><ul><li>the descriptions </li></ul></ul><ul><li>Geodemographic </li></ul><ul><ul><li>PRIZM </li></ul></ul>Minimal resources Abundant resources Figure 5-4 oriented oriented Status oriented Action Principle Actualizers Makers Strugglers Strivers Experiencers Achivers Fulfilleds Believers
  5. 5. Positioning Figure 5-6 Traditional Sporty Luxurious Functional Cadillac • • Mercedes Lincoln • Oldsmobile • • Chrysler • Buick Ford • Plymouth • Dodge • Mercury • • Pontiac • BMW • Porsche • Lexus • Chevrolet • Nissan • Toyota • Saturn • VW
  6. 6. Segmentation Strategy <ul><li>Not to enter </li></ul><ul><li>Mass market </li></ul><ul><ul><li>too small </li></ul></ul><ul><ul><li>heavy users </li></ul></ul><ul><ul><li>dominance </li></ul></ul><ul><li>One segment </li></ul><ul><li>Several segments </li></ul><ul><li>Segmentation criteria </li></ul><ul><ul><li>measurable </li></ul></ul><ul><ul><li>meaningful </li></ul></ul><ul><ul><li>marketable </li></ul></ul><ul><li>Design Marketing Mix Strategy </li></ul>

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