Marketing; 1D - Marketing; 1D Market Segmentation Market...

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Marketing ; 1D Market Segmentation Market Segmentation: o A process of clustering together people into homogeneous groups of customers Requirements for Effective Segmentation: o Sustainability o Identifiable & Measurability must identify (physically) o Accessibility effectively reached and served o Responsiveness Strategies: o Mass Market Strategy Treat total market as ONE – one marketing mix for ‘Entire Market’ ex) U.S. Post Office o Concentration Strategy Focus on ONE (and only ONE) market ex) Smart cars; develop mix for one segment ex) S.W. Airlines; started business flying between DAL – SEA – HOU ex) Fischer Price; sells all types of toys o Multi-Segment Strategy Perform analysis of markets – and pick multiple markets o Mass Customization Interacting on a one-to-one basis with many people to create custom made products or services; providing one-to-one marketing to the masses ex) Levis; stores in S.F. where you can use ‘Special-Order Machines’ to
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Marketing; 1D - Marketing; 1D Market Segmentation Market...

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