Target Marketing 6

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Target Marketing 6

  1. 1. Target Marketing Dr. Anil Mishra 9937635059, 09425452065 [email_address] Asian School of Business Management
  2. 2. Definition <ul><li>A target market is a group of people or organizations for which a company designs, implements and maintains a marketing mix intended to meet the needs of that group, resulting in mutually beneficial and satisfying exchanges. </li></ul>
  3. 3. Market Targeting Process <ul><li>Evaluating the Market segments: Potential of the market and its own ability. </li></ul><ul><li>Selecting the Market Segment: </li></ul><ul><li>Single segment concentration: </li></ul><ul><li>Selective specialization: </li></ul><ul><li>Product specialization: </li></ul><ul><li>Market specialization: </li></ul><ul><li>Full Coverage: </li></ul>
  4. 4. Evaluating Market segment and target market selection <ul><li>In evaluating market segments which can be targeted, a company should examine two broad issues: </li></ul><ul><li>Relative attractiveness of the market segments. </li></ul><ul><li>company’s capability to compete in various segments. </li></ul>
  5. 5. Market attractiveness <ul><li>Market Factors: </li></ul><ul><li>Segment size </li></ul><ul><li>segment growth rate </li></ul><ul><li>Price senstivity </li></ul><ul><li>Bargaining Power of customer </li></ul><ul><li>Barganing power of supplier </li></ul><ul><li>Barriers to market segment entry </li></ul><ul><li>Barriers to market segment exit. </li></ul>
  6. 6. <ul><li>Competitive Force: </li></ul><ul><li>Nature of competition </li></ul><ul><li>New entrant </li></ul><ul><li>competitive differentiation </li></ul><ul><li>Political, social and environmental factors </li></ul><ul><li>Political issues </li></ul><ul><li>Social trends </li></ul><ul><li>environmental issues </li></ul>
  7. 7. Firm’s Capability to serve segments <ul><li>Exploitable Marketing Assets </li></ul><ul><li>Cost advantage </li></ul><ul><li>Technological Edge </li></ul><ul><li>Managerial Capabilities and commitment </li></ul>
  8. 8. Thank you

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