MarketSegment

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Ch8 Identifying Market Segments and Targets Yabut.ppt

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MarketSegment

  1. 1. TOP 10 Learning Questions for Chapter 08: Identifying Market Segments and Targets Arvin Yabut December 15, 2011
  2. 2. 1. Which of the following best describes what a market segment is? <ul><li>A market segment consists of different groups of customers who share a similar set of needs and wants </li></ul><ul><li>A market segment consists of a group of customers who share a similar set of needs and wants </li></ul><ul><li>A market segment consists of a group of customers who share different sets of needs and wants </li></ul><ul><li>A market segment is a group of people who have a defined range of standards of living. </li></ul><ul><li>A market segment consists of different groups of customers who share different sets of needs and wants. </li></ul>
  3. 3. Book Definition <ul><li>Source: Kotler’s Marketing Book – 13 th edition </li></ul><ul><li>Page 248 </li></ul><ul><li>A market segment consists of a group of customers who share a </li></ul><ul><li>similar set of needs and wants. </li></ul>
  4. 4. Book Definition <ul><li>Source: Kotler’s Marketing Book – 13 th edition </li></ul><ul><li>Page 248 </li></ul><ul><li>A market segment consists of a group of customers who share a </li></ul><ul><li>similar set of needs and wants. </li></ul><ul><li>Keywords: </li></ul><ul><ul><li>Group of customers </li></ul></ul><ul><ul><li>Similar set </li></ul></ul><ul><ul><li>Needs and wants </li></ul></ul>
  5. 5. 1. Which of the following best describes what a market segment is? <ul><li>A market segment consists of different groups of customers who share a similar set of needs and wants </li></ul><ul><li>A market segment consists of a group of customers who share a similar set of needs and wants </li></ul><ul><li>A market segment consists of a group of customers who share different sets of needs and wants </li></ul><ul><li>A market segment is a group of people who have a defined range of standards of living. </li></ul><ul><li>A market segment consists of different groups of customers who share different sets of needs and wants. </li></ul>
  6. 6. 2. Which of the following is not a level of micromarketing? <ul><li>Individual Marketing </li></ul><ul><li>Segment Marketing </li></ul><ul><li>Criterion Marketing </li></ul><ul><li>Local Marketing </li></ul><ul><li>Niche Marketing </li></ul>
  7. 7. 4 Levels of Micromarketing
  8. 8. 4 Levels of Micromarketing <ul><li>Process of elimination tells us </li></ul><ul><li>that there’s no such thing as “Criterion Marketing” </li></ul>
  9. 9. 2. Which of the following is not a level of micromarketing? <ul><li>Individual Marketing </li></ul><ul><li>Segment Marketing </li></ul><ul><li>Criterion Marketing </li></ul><ul><li>Local Marketing </li></ul><ul><li>Niche Marketing </li></ul>
  10. 10. 3. In psychometric segmentation, which group with higher resources tend to seek durability, functionality, and value in products? <ul><li>Thinkers </li></ul><ul><li>Experiencer </li></ul><ul><li>Scholars </li></ul><ul><li>Innovators </li></ul><ul><li>Achievers </li></ul>
  11. 11. VALS Framework
  12. 12. VALS Framework <ul><li>Innovators: reflect cultivated tastes for relatively </li></ul><ul><li>upscale products & services </li></ul><ul><li>Thinkers: seek durability, functionality, </li></ul><ul><li>and value in products </li></ul><ul><li>Achievers: favor premium products for success </li></ul><ul><li>Experiencer: spend for fashion, entertainment, </li></ul><ul><li>and socializing </li></ul><ul><li>Scholars: does not exist; trick choice </li></ul>
  13. 13. <ul><li>Thinkers </li></ul><ul><li>Experiencer </li></ul><ul><li>Scholars </li></ul><ul><li>Innovators </li></ul><ul><li>Achievers </li></ul>3. In psychometric segmentation, which group with higher resources tend to seek durability, functionality, and value in products?
  14. 14. 4. What is the loyalty status of consumers who are loyal to two or three brands? <ul><li>Shifting loyals </li></ul><ul><li>Switchers </li></ul><ul><li>Split loyals </li></ul><ul><li>Hard-core loyals </li></ul><ul><li>Major loyals </li></ul>
  15. 15. Brand Loyalty Hard-core Loyals Split Loyals Shifting Loyals Switchers
  16. 16. Brand Loyalty Hard-core Loyals - who buy the brand all the time. Split Loyals - loyal to two or three brands. Shifting Loyals - moving from one brand to another. Switchers - with no loyalty
  17. 17. 4. What is the loyalty status of consumers who are loyal to two or three brands? <ul><li>Shifting loyals </li></ul><ul><li>Switchers </li></ul><ul><li>Split loyals </li></ul><ul><li>Hard-core loyals </li></ul><ul><li>Major loyals </li></ul>
  18. 18. 5. In evaluating and selecting the market segments, which of the following refers to serving many needs of a particular customer group? <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-Market Coverage </li></ul>
  19. 19. Book Definition <ul><li>Source: Kotler’s Marketing Book – 13 th edition </li></ul><ul><li>Page 268 </li></ul><ul><li>Evaluating and Selecting the Market Segments </li></ul>
  20. 20. Book Definition <ul><li>Market Specialization </li></ul><ul><li>The firm concentrates on serving many needs of a particular customer group. </li></ul>
  21. 21. 5. In evaluating and selecting the market segments, which of the following refers to serving many needs of a particular customer group? <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-Market Coverage </li></ul>
  22. 22. 6. What approach can be done to broaden the customer base in case of oversegmenting the market? <ul><li>Megamarketing </li></ul><ul><li>Resegmentation </li></ul><ul><li>Segment Review </li></ul><ul><li>Customerization </li></ul><ul><li>Countersegmentation </li></ul>
  23. 23. Book Definition <ul><li>Source: Kotler’s Marketing Book – 13 th edition </li></ul><ul><li>Page 270 </li></ul><ul><li>Evaluating and Selecting the Market Segments </li></ul>
  24. 24. Book Definition <ul><li>Companies should be cautious about </li></ul><ul><li>oversegmenting their markets. They may want </li></ul><ul><li>to turn to countersegmentation to broaden </li></ul><ul><li>the customer base. </li></ul>
  25. 25. 6. What approach can be done to broaden the customer base in case of oversegmenting the market? <ul><li>Megamarketing </li></ul><ul><li>Resegmentation </li></ul><ul><li>Segment Review </li></ul><ul><li>Customerization </li></ul><ul><li>Countersegmentation </li></ul>
  26. 26. 7. What are the three activities for target marketing? <ul><li>Market Targeting, Market Segmentation, Market Niching </li></ul><ul><li>Market Positioning, Market Segmentation, Market Localization </li></ul><ul><li>Market Segmentation, Market Penetration, Market Positioning </li></ul><ul><li>Market Customization, Market Segmentation, Market Targeting </li></ul><ul><li>Market Positioning, Market Targeting, Market Segmentation </li></ul>
  27. 27. Book Definition
  28. 28. Book Definition S.T.P. S egmentation T argeting P ositioning
  29. 29. 7. What are the three activities for target marketing? <ul><li>Market Targeting, Market Segmentation, Market Niching </li></ul><ul><li>Market Positioning, Market Segmentation, Market Localization </li></ul><ul><li>Market Segmentation, Market Penetration, Market Positioning </li></ul><ul><li>Market Customization, Market Segmentation, Market Targeting </li></ul><ul><li>Market Positioning, Market Targeting, Market Segmentation </li></ul>
  30. 30. 8. What is the strategic coordination of economic, psychological, political, and public relations skills, to gain the cooperation of a number of parties in order to enter or operate in a given market. <ul><li>Megamarketing </li></ul><ul><li>Resegmentation </li></ul><ul><li>Segment Review </li></ul><ul><li>Customerization </li></ul><ul><li>Countersegmentation </li></ul>
  31. 31. External environment + Marketing Variables Manage these elements!
  32. 32. External environment + Marketing Variables <ul><li>Megamarketing </li></ul><ul><li>economic </li></ul><ul><li>psychological </li></ul><ul><li>political </li></ul><ul><li>public relations </li></ul>
  33. 33. <ul><li>Megamarketing </li></ul><ul><li>Resegmentation </li></ul><ul><li>Segment Review </li></ul><ul><li>Customerization </li></ul><ul><li>Countersegmentation </li></ul>8. What is the strategic coordination of economic, psychological, political, and public relations skills, to gain the cooperation of a number of parties in order to enter or operate in a given market.
  34. 34. 9. What type of preference segment results when natural market segments emerge from groups of consumers with shared preferences? <ul><li>Homogeneous preferences </li></ul><ul><li>Diffused preferences </li></ul><ul><li>Clustered preferences </li></ul><ul><li>Heterogeneous preferences </li></ul><ul><li>None of the above </li></ul>
  35. 35. Book Definition <ul><li>Source: Kotler’s Marketing Book – 13 th edition </li></ul><ul><li>Page 249 </li></ul><ul><li>Market Segmentation </li></ul>
  36. 36. Book Definition <ul><li>Homogenous Preference: when all consumers </li></ul><ul><li>have the same preferences </li></ul><ul><li>Diffused Preference: vary greatly in their preferences </li></ul><ul><li>Clustered Preference: when natural market segments emerge </li></ul><ul><li>from groups of consumers with shared preferences </li></ul>
  37. 37. 9. What type of preference segment results when natural market segments emerge from groups of consumers with shared preferences? <ul><li>Homogeneous preferences </li></ul><ul><li>Diffused preferences </li></ul><ul><li>Clustered preferences </li></ul><ul><li>Heterogeneous preferences </li></ul><ul><li>None of the above </li></ul>
  38. 38. 10. The following effective segmentation criteria would be measureable, substantial, accessible, differentiable, and __________. <ul><li>Attainable </li></ul><ul><li>Actionable </li></ul><ul><li>Arguable </li></ul><ul><li>Achievable </li></ul><ul><li>None of the above </li></ul>
  39. 39. 5-Key Criteria
  40. 40. 5-Key Criteria “ Actionable” is the last criterion!
  41. 41. 10. The following effective segmentation criteria would be measureable, substantial, accessible, differentiable, and __________. <ul><li>Attainable </li></ul><ul><li>Actionable </li></ul><ul><li>Arguable </li></ul><ul><li>Achievable </li></ul><ul><li>None of the above </li></ul>
  42. 42. TOP 10 Learning Questions for Chapter 08: Identifying Market Segments and Targets Arvin Yabut December 15, 2011

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