Identifying market segment

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Identifying market segment

  1. 1. Chapter 8Identifying Market Segments and Selecting Target Markets<br />May 8, 2010<br />Martin Anthony A. Villa, MD<br />“V10- The Power Engine”<br />Ateneo MBA-H Batch 8<br /><www.myvaricosevein.com><br />
  2. 2. In Conclusion…<br />
  3. 3. The Clients…<br />
  4. 4. Levels of <br />Market Segment<br />Segmenting Consumers<br />CONCEPTS<br />Effective Segmentation Criteria<br />Patterns of Market Target Selection<br />Segment to segment plan<br />
  5. 5. Levels of Market Segmentation<br />Mass marketing<br />Segment marketing<br />Niche marketing<br />Local marketing<br />Individual marketing<br />
  6. 6. MASS MARKETING<br />Mass production, mass distribution, and mass promotion of one product for all buyers.<br />Levels of Market Segmentation<br />
  7. 7. MASS MARKETING<br />Mass production, mass distribution, and mass promotion of one product for all buyers.<br />Levels of Market Segmentation<br />
  8. 8. SEGMENT MARKETING<br />Market segment: a group of customers who share a similar set of needs & wants.<br />The marketer’s task: identify (NOT create) the segments and decide which one(s) to target.<br />Levels of Market Segmentation<br />
  9. 9. LOCAL MARKETING<br />The marketing programs are tailored to the needs and wants of local customer groups.<br />Grass root marketing for trading areas, neighborhood and individual stores<br />Levels of Market Segmentation<br />
  10. 10. NICHE MARKETING<br />A more narrowly defined group seeking a distinctive mix of benefits.<br />Determine the attractiveness of a niche<br />Distinctness of need<br />Premium<br />Competitors<br />Specialization<br />Size, profit and growth potential<br />The globalization and internet facilitates have made niche more feasible<br />Levels of Market Segmentation<br />
  11. 11. INDIVIDUAL MARKETING<br />The ultimate level of segmentation<br />Customerization<br />One on one<br />Levels of Market Segmentation<br />
  12. 12. INDIVIDUAL MARKETING<br />The ultimate level of segmentation<br />Customerization<br />One on one<br />Levels of Market Segmentation<br />
  13. 13. Segmenting Consumer Markets<br />Geographic segmentation<br />
  14. 14. Geographic segmentation<br />Demographic segmentation<br />Age and life cycle stage, life stage, generation <br />Gender<br />Income, social class, occupation<br />Segmenting Consumer Markets<br />
  15. 15. Geographic segmentation<br />Demographic segmentation<br />Psychographic segmentation<br />Segmenting Consumer Markets<br />
  16. 16. Geographic segmentation<br />Demographic segmentation<br />Psychographic segmentation<br />Behavioral segmentation<br />Segmenting Consumer Markets<br />
  17. 17. MARKET TARGETING<br />5 key criteria for a useful market segment<br />Measurable<br />The size, purchasing power and characteristics of the segments can be measured.<br />
  18. 18. MARKET TARGETING<br />5 key criteria for a useful market segment<br />Measurable<br />Substantial<br />The segment are large and profitable enough to serve. The objective is to have the largest homogenous group.<br />
  19. 19. MARKET TARGETING<br />5 key criteria for a useful market segment<br />Measurable<br />Substantial<br />Accessible<br />The segment must be effectively reached and served.<br />
  20. 20. MARKET TARGETING<br />5 key criteria for a useful market segment<br />Measurable<br />Substantial<br />Accessible<br />Differentiable<br />Segment are conceptually distinguishable and respond differently. If not they should not be segmented.<br />
  21. 21. MARKET TARGETING<br />5 key criteria for a useful market segment<br />Measurable<br />Substantial<br />Accessible<br />Differentiable<br />Actionable<br />Effective program can be formulated to attract and serve the segment.<br />
  22. 22. Patterns of Target Market Selection<br />Single Segment Concentration<br />M1<br />M2<br />M3<br />MARKET<br />P1<br />PRODUCT<br />P2<br />P3<br />
  23. 23. Patterns of Target Market Selection<br />Selective specialization<br />M1<br />M2<br />M3<br />MARKET<br />P1<br />PRODUCT<br />P2<br />P3<br />
  24. 24. Patterns of Target Market Selection<br />Product Specialization<br />M1<br />M2<br />M3<br />MARKET<br />P1<br />PRODUCT<br />P2<br />P3<br />
  25. 25. Patterns of Target Market Selection<br />Market Specialization<br />M1<br />M2<br />M3<br />MARKET<br />P1<br />PRODUCT<br />P2<br />P3<br />
  26. 26. Patterns of Target Market Selection<br />Full Market Coverage<br />M1<br />M2<br />M3<br />MARKET<br />P1<br />PRODUCT<br />P2<br />P3<br />
  27. 27. Patterns of Target Market Selection<br />Marketing must develop segment to segment invasion plans and choose target market in a socially responsible manner at all times.<br />M1<br />M2<br />M3<br />MARKET<br />P1<br />PRODUCT<br />P2<br />P3<br />
  28. 28. Patterns of Target Market Selection<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  29. 29. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  30. 30. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  31. 31. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  32. 32. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  33. 33. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  34. 34. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  35. 35. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  36. 36. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  37. 37. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  38. 38. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  39. 39. Segment to Segment Plan<br />Middle age <br />Female <br />Elderly<br />Female <br />Young<br />Teen Female<br />MARKET<br />Mammography<br />Pap smear<br />HPV Vaccine<br />PRODUCT<br />
  40. 40. CONCLUSION:<br />… the customers is a very heterogenous crowd. … there is a need to re cluster them into smaller homogenous group …this is a focus target group in marketing strategic planning for particular product.<br />
  41. 41. Chapter 8Identifying Market Segments and Selecting Target Markets<br />May 8, 2010<br />Martin Anthony A. Villa, MD<br />“V10- The Power Engine”<br />Ateneo MBA-H Batch 8<br /><www.myvaricosevein.com><br />
  42. 42. Target Marketing<br />3 activities:<br />Market Segmentation<br />Market Targeting <br />Market Positioning<br />
  43. 43. Steps in Segmentation Process<br />Need based segmentation<br />Similar needs and benefits<br />Segment identification<br />In relation to demographics, lifestyle and behavior<br />Segment attractiveness<br />Segment profitability<br />Segment positioning<br />Segment acid test<br />Market mix strategy<br />

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