Professional Documents
Culture Documents
1
Outline of the lecture
Topic 1: Market segmentation
Topic 2: Mass marketing
Topic 4: Target marketing
Topic 5: Bases for segmentation
Topic 6: Marketing mix
2
Objectives of the lecture
After completion of this lecture students will be able to know:
Marketing Mix
3
Implementing Strategies:
Marketing
Market segmentation
4
Market segmentation
o These segments are homogeneous within (i.e. people in the segment are similar
to each other in their attitudes about certain variables).
5
The Need for Market Segmentation
o The marketing concept calls for understanding customers and satisfying their
needs better than the competition.
6
Mass marketing
7
Target marketing
8
Bases for Segmentation in Consumer Markets
a) Geographic Segmentation
b) Demographic Segmentation
c) Psychographic Segmentation
d) Behavioristic Segmentation
9
a) Geographic Segmentation
10
b) Demographic Segmentation
• Age
• Gender
• Income
• Occupation
• Education
• Ethnicity
• Nationality
• Family size, lifecycle
• Generation: baby-boomers, Generation X, etc.
11
c) Psychographic Segmentation
o Activities
o Interests
o Opinions
o Attitudes
o Values
12
d) Behavioristic Segmentation
• Benefits sought
• Usage rate
• Brand loyalty
• Readiness to buy
• User status: potential, first-time, regular, etc.
• Occasions: holidays and events that stimulate purchases
13
Market segmentation Link with strategy implementation
14
Con…
o Second, market segmentation allows a firm to operate with limited resources
because mass production, mass distribution, and mass advertising are not
required.
15
Marketing Mix
Price refers to not only the actual price but also price elasticity.
Place has evidently replaced distribution simply by where or what area the marketing
campaign is going to cover.
Promotion simply refers to what media/medium vehicle will deliver the message and
what the overall marketing strategy(s) is offering as a benefit.
16
a) Product Decisions
• Brand name
• Functionality
• Styling
• Quality
• Safety
• Packaging
• Repairs and Support
• Warranty
• Accessories and services
17
b) Price Decisions
• Seasonal pricing
• Bundling
• Price flexibility
• Price discrimination
18
c) Distribution (place) Decisions
• Distribution channels
• Inventory management
• Warehousing
• Distribution centers
• Order processing
• Transportation
19
d) Promotion Decisions
• Advertising
• Sales promotions
20
Conclusion
o The marketing concept calls for understanding customers and satisfying their
needs better than the competition.
21
References
1. Strategic Management Concepts and Cases Sixteen Edition by Fred R.
David, 11th Edition.
22