Professional Documents
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positioning
Selecting customer to serve
Selecting customer to serve
Target Marketing
Selecting a category of customers with
similar wants and needs who are likely to
respond to the same products
1-4
#1 #2
Market Segmentation:
Divide the market into
segments of customers
Target Marketing:
Select the segment to
cultivate
1-5
1)Consumer Market Segmentation
2)Business Market Segmentation
3)International Market Segmentation
There is no single way to segment a market. A
marketer has to try different segmentation variables,
alone and in combination to find the best way to view
the market structure.
After successfully segmented the market the firm now must evaluate the
various segments and decide how many and which segment it can serve
best.
In evaluating different market segments, a firm
must look at three factors:
Segment size and growth (sales, growth rate and expected
profitability)
Segment structural attractiveness (a segment is less
attractive if it already contain strong and aggressive competitors-substitute
products)
Company’s objectives and resources.(even if a
segment has the right size and growth and is structurally attractive,
the company must consider its own objectives and resources)
After evaluating different segments, the company must decide which and
how many segments it will target.
Buyers have unique needs and wants, a seller could potentially view each
buyer as a separate target market. Then a seller might design a separate
marketing program for each buyer.