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8
           Identifying
     Market Segments
         and Targets




    Marketing Management
A South Asian Perspective, 13th ed
Chapter Questions

      • What are the different levels of market
        segmentation?
      • How can a company divide a market
        into segments?
      • How should a company choose the
        most attractive target markets?
      • What are the requirements for effective
        segmentation?

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-2
Effective Targeting Requires…

      • Identify and profile distinct groups of
        buyers who differ in their needs and
        preferences
      • Select one or more market segments to
        enter
      • Establish and communicate the
        distinctive benefits of the market
        offering

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-3
Ford’s Model T Followed a Mass
                      Market Approach




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-4
Four levels of Micromarketing


                       Segments                          Niches



                      Local areas                       Individuals




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                 8-5
What is a Market Segment?

                A market segment consists of a
                group of customers who share a
                 similar set of needs ad wants.




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-6
Gather.com: A Niche
                           Social Networking Site




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-7
Preference Segments

      • Homogeneous preferences exist
        when consumers want the same things
      • Diffused preferences exist when
        consumers want very different things
      • Clustered preferences reveal natural
        segments from groups with shared
        preferences


Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-8
The Himalaya Drug
Company serves a
  growing niche
market by focusing
   on ayurvedic
  medicines and
health supplements


Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-9
What is Customerization?

             Customerization combines operationally
            driven mass customization with customized
                 marketing in a way that empowers
           consumers to design the product and service
                      offering of their choice.




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-10
United Bank
                                                            Ltd. of
                                                        Pakistan offers
                                                         customized
                                                        Galleria credit
                                                         cards to its
                                                          customers


Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                     8-11
Segmenting Consumer Markets

                               Geographic


                                        Demographic


                                                   Psychographic


                                                          Behavioral


Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                  8-12
Demographic Segmentation

                        Age and Life Cycle
                                        Life Stage
                                                   Gender
                                                        Income
                                                         Generation
                                                            Social Class

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                      8-13
Bank Al Habib
         targets
      senior citizens




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-14
Dove Targets Women




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-15
Behavioral Segmentation

    Decision Roles                                      Behavioral Variables
    • Initiator                                         • Occasions
    • Influencer                                        • Benefits
    • Decider                                           • User Status
    • Buyer                                             • Usage Rate
    • User                                              • Buyer-Readiness
                                                        • Loyalty Status
                                                        • Attitude
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                     8-16
The Brand Funnel Illustrates
                        Variations in the
                     Buyer-Readiness Stage
          •    Aware
          •    Ever tried
          •    Recent trial
          •    Occasional user
          •    Regular user
          •    Most often used


Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-17
Loyalty Status



                                            Hard-core

                                         Split loyals

                                     Shifting loyals

                                          Switchers

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-18
Figure 8.3 Behavioral
                    Segmentation Breakdown




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-19
Segmenting for Business Markets

                                    Demographic

                                      Operating Variable

                                          Purchasing Approaches

                                                        Situational Factors
                                                               Personal
                                                             Characteristics

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                          8-20
Steps in Segmentation Process

 Needs-based segmentation

            Segment identification                         Marketing-Mix
                 Segment attractiveness                      Strategy

                           Segment profitability

                                   Segment positioning

                                            Segment acid test
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                8-21
Effective Segmentation Criteria

                                     Measurable

                                             Substantial

                                                        Accessible

                                                          Differentiable

                                                               Actionable

Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                       8-22
Figure 8.4 Patterns of
                       Target Market Selection




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-23
Figure 8.4 Patterns of
                       Target Market Selection




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-24
Figure 8.4 Patterns of
                       Target Market Selection




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-25
The Revolution
                                                         brand of ready-
                                                         made women’s
                                                             apparel
                                                          successfully
                                                         focuses on the
                                                        niche segment of
                                                        plus-size clothes.


Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.                   8-26
Figure 8.5 Segment-by-Segment
                        Invasion Plan




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-27
Pepsi used Megamarketing in India




Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd.   8-28

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K13 segmentation and_targeting

  • 1. 8 Identifying Market Segments and Targets Marketing Management A South Asian Perspective, 13th ed
  • 2. Chapter Questions • What are the different levels of market segmentation? • How can a company divide a market into segments? • How should a company choose the most attractive target markets? • What are the requirements for effective segmentation? Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-2
  • 3. Effective Targeting Requires… • Identify and profile distinct groups of buyers who differ in their needs and preferences • Select one or more market segments to enter • Establish and communicate the distinctive benefits of the market offering Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-3
  • 4. Ford’s Model T Followed a Mass Market Approach Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-4
  • 5. Four levels of Micromarketing Segments Niches Local areas Individuals Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-5
  • 6. What is a Market Segment? A market segment consists of a group of customers who share a similar set of needs ad wants. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-6
  • 7. Gather.com: A Niche Social Networking Site Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-7
  • 8. Preference Segments • Homogeneous preferences exist when consumers want the same things • Diffused preferences exist when consumers want very different things • Clustered preferences reveal natural segments from groups with shared preferences Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-8
  • 9. The Himalaya Drug Company serves a growing niche market by focusing on ayurvedic medicines and health supplements Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-9
  • 10. What is Customerization? Customerization combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product and service offering of their choice. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-10
  • 11. United Bank Ltd. of Pakistan offers customized Galleria credit cards to its customers Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-11
  • 12. Segmenting Consumer Markets Geographic Demographic Psychographic Behavioral Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-12
  • 13. Demographic Segmentation Age and Life Cycle Life Stage Gender Income Generation Social Class Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-13
  • 14. Bank Al Habib targets senior citizens Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-14
  • 15. Dove Targets Women Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-15
  • 16. Behavioral Segmentation Decision Roles Behavioral Variables • Initiator • Occasions • Influencer • Benefits • Decider • User Status • Buyer • Usage Rate • User • Buyer-Readiness • Loyalty Status • Attitude Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-16
  • 17. The Brand Funnel Illustrates Variations in the Buyer-Readiness Stage • Aware • Ever tried • Recent trial • Occasional user • Regular user • Most often used Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-17
  • 18. Loyalty Status Hard-core Split loyals Shifting loyals Switchers Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-18
  • 19. Figure 8.3 Behavioral Segmentation Breakdown Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-19
  • 20. Segmenting for Business Markets Demographic Operating Variable Purchasing Approaches Situational Factors Personal Characteristics Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-20
  • 21. Steps in Segmentation Process Needs-based segmentation Segment identification Marketing-Mix Segment attractiveness Strategy Segment profitability Segment positioning Segment acid test Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-21
  • 22. Effective Segmentation Criteria Measurable Substantial Accessible Differentiable Actionable Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-22
  • 23. Figure 8.4 Patterns of Target Market Selection Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-23
  • 24. Figure 8.4 Patterns of Target Market Selection Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-24
  • 25. Figure 8.4 Patterns of Target Market Selection Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-25
  • 26. The Revolution brand of ready- made women’s apparel successfully focuses on the niche segment of plus-size clothes. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-26
  • 27. Figure 8.5 Segment-by-Segment Invasion Plan Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-27
  • 28. Pepsi used Megamarketing in India Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 8-28