Process of Segmenting Market

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This PowerPoint presentation titled Process of Segmenting Market is a lesson in the Principles of Marketing. This is associated with a textbook to be able to understand more the details of this lesson.

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Process of Segmenting Market

  1. 1.  What is Market Segmentation?  Enumerate the advantages of Market Segmentation?  Discuss some marketing strategies in selectingTarget Markets  Illustrate the steps of segmenting markets.  Conclude and apply market segmentation on the given examples of specific market segments suitable for aTarget audience.
  2. 2.  What are the products that you see in these pictures?  What market segments are best fit for these products?  Why do you need targeting your market?
  3. 3.  The selling propositions were not only centered on the physical features of the product but also on its intrinsic values  There were specific functions, characteristics and significant uses of the actual product(s) that must be differentiated among others  Not all the brand, brand names and trade marks were shown in the images but those that require observers to be keen in observing the facts about the product(s) were shown
  4. 4.  Market Segment- is a subgroup of a particular market composed of units with more or less similar characteristics.  Market Segmentation is the process of identifying the various segments of a company’s particular market.
  5. 5.  In a market segment identified, those that have the nerve to react during their observation of the images are those whom you are going to include in your list of potential market for that market segment of your product  There are particular market segments that you need to reach out in order to have effective sales, advertising, and promotions
  6. 6.  Awareness of realities in the market  Clues on designs of products and marketing programs  Opportunities for new product development  Improve Strategic Allocation of marketing resources
  7. 7. Concentration on Single Segment Strategy Multi-Segment Strategy
  8. 8.  Identification by Characteristics of prospective Customers  Determination to which Extent of Differences in their Needs and Benefits  Evaluation of present and future Attractiveness of each segment
  9. 9. Stage Buyer Readiness Effect on Buyer Behavior MarketingTask 1 Unaware Don’t Buy Convert to Stage 2 2 Aware Slight Idea, may lead to actual purchase Convert to Stage 3 3 Informed More Knowledge, Chance of Buying Convert to Stage 4 4 Interested Wants to Evaluate, chance of actual Buying Convert to Stage 5 5 Desirous Wants to have, Hindrance Convert to Stage 6 if Ability to Pay 6 Intends to Buy Wants to Purchase Convert intention to Consummated Sale and keep Interest
  10. 10.  DIRECTION (Application) 1. From the pictures given, identify a market segment that can be applicable, then give a strategy that can be used by a marketer. 2. Give your basis in segmenting the market, then give example of a stage in Buyer Readiness where Effect and MarketingTask would be made possible. Follow our examples given.
  11. 11.  Marketing Information System and Marketing Research , Marketing Research Process  Steps for Marketers to Decide based on Information Prin. Of marketing by Roberto Medina (2008) pp. 84-94

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