Chapter 7.pptx - Session Agenda u2022 Chapter 7 u2013...

Session Agenda
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Chapter 7 – Customer Driven Marketing
Strategy: Creating Value for Target
Customers

Chapter Seven
Customer-Driven Marketing
Strategy: Creating Value for Target
Customers

Customer-Driven Marketing Strategy:
Creating Value for Target Customers
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Define the major steps in designing a customer-
driven marketing strategy
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Identify and discuss the major basis for Market
Segmentation
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Explain how companies identify and tap attractive
markets, Market Targeting
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Discuss how companies Position and
Differentiate their products for maximum
competitive advantage
Session Outline

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Market segmentation is the process that
companies use to divide large,
heterogeneous markets into small markets.
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Markets are divided based on their distinct
needs, characteristics or behavior .
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This way, smaller segments can be reached
more efficiently and effectively with products
and services that match their unique needs
Market Segmentation

1.
Segmenting consumer markets
2.
Segmenting business markets
3.
Segmenting international markets
4.
Requirements for effective segmentation
Market Segmentation

Market Segmentation
Geographic segmentation Demographic segmentation
Psychographic segmentation Behavioral segmentation
Segmenting Consumer Markets

Market Segmentation
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Geographic segmentation divides the market into
different geographical units such as nations, regions,
states, counties, or cities
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Even if a company is operating on an international
scale, it may take into cater for the specific needs
and wants of the individual geographic units.
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Other companies are trying to cultivate the as-yet-
untapped geographic territory.
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
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Age and life-cycle stage segmentation