TARGET MARKETING 3 Steps for effective target marketing Market Segmentation Market Targeting Market Positioning .

LEVELS OF MARKET SEGMENTATION  Segment Marketing  Niche Marketing  Local Marketing  Customerization Henry Ford First to mass market automobiles .

Segment Marketing 3 Patterns of Preference Segments Homogenous Diffused Clustered .

Niche Marketing .

Local Marketing .

Customerization .

SEGMENTING CONSUMER MARKETS  2 Variables used: Consumer characteristics ‚ Geographic ‚ Demographic ‚ Psychographic .


negative and hostile . interested.SEGMENTING CONSUMER MARKETS Behavioral variables ‚ Occasions time of day. shifting. ex-users. medium and heavy product users ‚ Buyer-readiness stage unaware. aware.light. desire and intend to buy ‚ Loyalty status hard-core. week. month and year ‚ Benefits ‚ User status non users. first time user and regular users ‚ Usage rate . positive. switchers ‚ Attitude enthusiastic. indifferent. potential. split loyals. informed.

Power structure. Purchasing Criteria . General purchase policies. Location Operating Variables Technology.BASES FOR SEGMENTING BUSINESS MARKETS Demographic Industry. Nature of existing relationships. User or non-user status. Customer Capabilities Purchasing Approaches Purchasing function organization. Company Size.

Specific application. Loyalty . attitudes toward risk.BASES FOR SEGMENTING BUSINESS MARKETS Situation Factors Urgency. Size of order Personal Characteristics Buyer-seller similarity.

SEQUENTIAL SEGMENTATION Automobile Semifinished material Building components Aluminum mobile homes Macrosegmentat ion Residential Beverage containers Aluminum Co. Price Microsegmentati on Service Quality .

Strategic value customers . Novices 3.SEQUENTIAL SEGMENTATION ‡ Business buyers seek different benefit bundles based on their stage in the purchase decision process. Sophisticates ‡ Business buyers segmentation schemes 1. 1.consultative 3. Price-oriented customers . First-time prospects 2.enterprise . Solution oriented customers .transactional 2.

MARKET TARGETING Steps in the Segmentation Process Needs-Based segmentation Segment Identification Segment Attractiveness Segment Acid Test Segment Positioning Segment Profitability MarketingMix Strategy .

EFFECTIVE SEGMENTATION CRITERIA  Measurable  Substantial  Accessible  Differentiable  Actionable .

FIVE PATTERNS OF TARGET MARKET SELECTION Single-segment concentration Selective specialization Product specialization Market specialization Full market coverage .

TARGET MARKET SELECTION  Additional considerations Segment-by-segment invasion plans Updating segmentation schemes Ethical choice of target markets .

MARKETING DEBATE  Is Mass Marketing dead? There are brands that certainly benefit from mass marketing. . Take any kind of fast moving consumer good or product that appeals to the masses.the best way to do so is through the regular marketing channels that we've all come to know and love. They need a method of getting the word out and let's face it .

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