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Identifying Market Segment
 

Identifying Market Segment

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    Identifying Market Segment Identifying Market Segment Presentation Transcript

    • Chapter 8Identifying Market Segments and Selecting Target Markets
      May 8, 2010
      Martin Anthony A. Villa, MD
      “V10- The Power Engine”
      Ateneo MBA-H Batch 8
      <www.myvaricosevein.com>
    • In Conclusion…
    • The Clients…
    • Levels of
      Market Segment
      Segmenting Consumers
      CONCEPTS
      Effective Segmentation Criteria
      Patterns of Market Target Selection
      Segment to segment plan
    • Levels of Market Segmentation
      Mass marketing
      Segment marketing
      Niche marketing
      Local marketing
      Individual marketing
    • MASS MARKETING
      Mass production, mass distribution, and mass promotion of one product for all buyers.
      Levels of Market Segmentation
    • MASS MARKETING
      Mass production, mass distribution, and mass promotion of one product for all buyers.
      Levels of Market Segmentation
    • SEGMENT MARKETING
      Market segment: a group of customers who share a similar set of needs & wants.
      The marketer’s task: identify (NOT create) the segments and decide which one(s) to target.
      Levels of Market Segmentation
    • LOCAL MARKETING
      The marketing programs are tailored to the needs and wants of local customer groups.
      Grass root marketing for trading areas, neighborhood and individual stores
      Levels of Market Segmentation
    • NICHE MARKETING
      A more narrowly defined group seeking a distinctive mix of benefits.
      Sub, sub specialty in medical field
      Levels of Market Segmentation
    • INDIVIDUAL MARKETING
      The ultimate level of segmentation
      Customerization
      One on one
      Levels of Market Segmentation
    • INDIVIDUAL MARKETING
      The ultimate level of segmentation
      Customerization
      One on one
      Levels of Market Segmentation
    • Segmenting Consumer Markets
      Geographic segmentation
    • Geographic segmentation
      Demographic segmentation
      Age and life cycle stage, life stage, generation
      Gender
      Income, social class, occupation
      Segmenting Consumer Markets
    • Geographic segmentation
      Demographic segmentation
      Psychographic segmentation
      Segmenting Consumer Markets
    • Geographic segmentation
      Demographic segmentation
      Psychographic segmentation
      Behavioral segmentation
      Segmenting Consumer Markets
    • MARKET TARGETING
      5 key criteria for a useful market segment
      Measurable
      The size, purchasing power and characteristics of the segments can be measured.
    • MARKET TARGETING
      5 key criteria for a useful market segment
      Measurable
      Substantial
      The segment are large and profitable enough to serve. The objective is to have the largest homogenous group.
    • MARKET TARGETING
      5 key criteria for a useful market segment
      Measurable
      Substantial
      Accessible
      The segment must be effectively reached and served.
    • MARKET TARGETING
      5 key criteria for a useful market segment
      Measurable
      Substantial
      Accessible
      Differentiable
      Segment are conceptually distinguishable and respond differently. If not they should not be segmented.
    • MARKET TARGETING
      5 key criteria for a useful market segment
      Measurable
      Substantial
      Accessible
      Differentiable
      Actionable
      Effective program can be formulated to attract and serve the segment.
    • Patterns of Target Market Selection
      Single Segment Concentration
      M1
      M2
      M3
      MARKET
      P1
      PRODUCT
      P2
      P3
    • Patterns of Target Market Selection
      Selective specialization
      M1
      M2
      M3
      MARKET
      P1
      PRODUCT
      P2
      P3
    • Patterns of Target Market Selection
      Product Specialization
      M1
      M2
      M3
      MARKET
      P1
      PRODUCT
      P2
      P3
    • Patterns of Target Market Selection
      Market Specialization
      M1
      M2
      M3
      MARKET
      P1
      PRODUCT
      P2
      P3
    • Patterns of Target Market Selection
      Full Market Coverage
      M1
      M2
      M3
      MARKET
      P1
      PRODUCT
      P2
      P3
    • Patterns of Target Market Selection
      Marketing must develop segment to segment invasion plans and choose target market in a socially responsible manner at all times.
      M1
      M2
      M3
      MARKET
      P1
      PRODUCT
      P2
      P3
    • Patterns of Target Market Selection
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • Segment to Segment Plan
      Middle age
      Female
      Elderly
      Female
      Young
      Teen Female
      MARKET
      Mammography
      Pap smear
      HPV Vaccine
      PRODUCT
    • CONCLUSION:
      … 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.
    • Chapter 8Identifying Market Segments and Selecting Target Markets
      May 8, 2010
      Martin Anthony A. Villa, MD
      “V10- The Power Engine”
      Ateneo MBA-H Batch 8
      <www.myvaricosevein.com>