Chapter Seven Customer-Driven Marketing Strategy Creating Value for Target Customers
Customer-Driven Marketing Strategy: Creating Value for Target Customers Customer-Driven Marketing Strategy Market Segmentation Market Targeting Differentiation and Positioning Topic Outline
Customer Driven Marketing Strategy
Market Segmentation Market segmentation is the process that companies use to divide large, heterogeneous markets into small markets that can be reached more efficiently and effectively with products and services that match their unique needs
Market Segmentation Segmenting consumer markets Segmenting business markets Segmenting international markets Requirements for effective segmentation
Market Segmentation Geographic segmentatio n Demographic segmentatio n Psychographi c segmentation Behavioral segmentatio n Segmenting Consumer Markets
Market Segmentation Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, or cities Segmenting Consumer Markets
Market Segmentation Demographic segmentation divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality Segmenting Consumer Markets
Market Segmentation Age and life-cycle stage segmentation is the process of offering different products or using different marketing approaches for different age and life-cycle groups Gender segmentation divides the market based on sex (male or female)
Market Segmentation Demographics (gender, age): Cosmetics and perfumes firms could effectively use a variety of segmentation variables. For example, males and females would have different needs, as would younger and older consumers Segmenting Consumer Markets
Market Segmentation Income segmentation divides the market into affluent or low-income consumers Segmenting Consumer Markets
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- Fall '19
- Marketing, Effective Segmentation, Cosmetics