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  1. 1. Maria Jonah San JuanMBAMr. Otic<br />
  2. 2. TARGET MARKETING <br />sellers distinguish the major market segments, target one of those segments and develop products and marketing programs tailored to each segment.<br />
  3. 3. Target marketing requires marketers to take three major steps:<br />Market Segmentation<br />Market Targeting<br />Market Positioning<br />
  4. 4. MARKET SEGMENTATION<br />MARKET TARGETING<br />MARKET POSITIONING<br />1. Identify segmentation variables and segment the market<br />2. Develop profiles of resulting segments<br />3. Evaluate the attractiveness of each segment<br />4. Select the target segment(s)<br />5. Identify possible positioning concepts for each target segment<br />6. Select, develop and communicate the chosen positioning concept<br />STEPS IN MARKET SEGMENTATION, TARGETING AND POSITIONING <br />
  5. 5. MARKET SEGMENTATION<br />market can be segmented in a number of ways. Market consists of buyers and buyers differ in many ways. It represents an effort to increase a company’s targeting precision. It can be carried out at four levels : segment, niches, local areas and individuals.<br />
  6. 6. MASS MARKETING<br />In mass marketing, the seller engages in the mass production, mass distribution and mass promotion of one product for all buyers.<br />
  7. 7. SEGMENT MARKETING – consists of large identifiable group within a market. Segmentation is a midpoint between mass marketing and individual marketing. The consumers belonging to a segment are assumed to be quite similar in their wants and needs.<br />NICHES MARKETING – it is a more narrowly defined group. Marketers usually identify niches by dividing a segment into sub segments. <br />
  8. 8. LOCAL MARKETING – marketing program is being tailored to the needs and wants of local customer groups<br />INDIVIDUAL MARKETING – the ultimate level of segmentation leads to “segment of one”, “customized marketing”, or “one to one marketing.” <br />SELF – MARKETING – is a form of individual marketing in which the individual customer takes more responsibility for determining which products and brands to buy.<br />
  9. 9. BASES FOR SEGMENTING CONSUMER MARKETS<br />GEOGRAPHIC SEGMENTATION – calls for dividing the market into different geographical units such as nations, states, regions, counties, cities or neighborhoods.<br />DEMOGRAPHIC SEGMENTATION – the market is divided into groups on the basis of demographic variables such as age, family, size, family life cycle, gender, income, occupation, education, religion, etc. <br />
  10. 10. PSYCHOGRAPHIC SEGMENTATION – buyers are divided into different groups on the basis of lifestyle and/or personality.<br />BEHAVIORAL SEGMENTATION – buyers are divided into groups on the basis of their knowledge of, attitude toward, use of, or response to a product. Many marketers believe that behavioral variables – occasions, benefits, user status, attitude, etc. – are the best starting points for constructing market segments.<br />
  11. 11. MULTI – ATTRIBUTE SEGMENTATION (GEOCLUSTERING) – yields richer descriptions of consumers and neighborhoods than traditional demographics because it reflects the socioeconomic status and lifestyle of neighborhood’s inhabitants.<br />TARGETING MULTIPLE SEGMENTS – companies may begin their marketing with one targeted segment, and then expand into other segments.<br />
  12. 12. REQUIREMENTS FOR EFFECTIVE SEGMENTATION<br />Measurable<br />Substantial<br />Accessible<br />Differentiable<br />Actionable<br />
  13. 13. MARKET TARGETING <br />Once the firm has identified its market segment opportunities, it has to evaluate the various segments and decide how many and which ones to target.<br />
  14. 14. SELECTING THE MARKET SEGMENTS <br />SINGLE – SEGMENT CONCENTRATION – selecting a single segment. The firm gains a strong knowledge of the segment’s needs and achieves a strong market position in the segment. <br />SELECTIVE SPECIALIZATION – the firm selects a number of segments, each objectively attractive and appropriate, given the firm’s objectives and resources.<br />
  15. 15. PRODUCT SPECIALIZATION – the firm concentrates on making a certain product that it sells to several segments.<br />MARKET SPECIALIZATION – the firm concentrates on serving many needs of a particular customer group<br />FULL MARKET COVERAGE – the firm attempts to serve all customer groups with all the products that they might need.<br />