Kotcha08 - Chapter8 Segmentation,Targeting,and...

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1 Chapter 8 Segmentation, Targeting, and  Positioning:  Building the  Right Relationships with the  Right Customers
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2 Market Segmentation, Targeting, and Positioning                                                           (Fig. 8.1, pp. 238-239) Market Segmentation 1. Identify bases for      segmenting the market 2. Develop segment profiles Market Targeting 3. Develop measures of     segment attractiveness 4. Select target segments Positioning 5. Develop positioning for      target segments 6. Develop a marketing      mix for each segment Divide a market into  smaller   groups  of buyers with distinct  needs, characteristics, or behaviors  who  might require separate  products or marketing mixes Most marketers have moved  away from mass marketing  and toward market  segmentation and targeting (“rifle approach”)
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3 Identify Segmentation Bases Identify Segmentation Bases                                   (Table 8.1, pp.  239-246) Demographic Demographic  –  most popular    Dividing the market into groups based on population characteristics  such as:   Age group Gender Family size or      life-cycle stage Income Occupation Education Religion Race Nationality Psychographic Psychographic –  beyond demographics  Lifestyle  (e.g., PRIZM, p. 247; VALS, Ch. 6)  Personality  Social class Geographic Geographic –    Country or region  City or metro size  Population density (e.g.,  urban, suburban, rural)  Climate Multiple Bases
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4 Step 1. Market Segmentation     Identify Segmentation Bases Identify Segmentation Bases                                   (Table 8.1,  pp. 239-246)
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Kotcha08 - Chapter8 Segmentation,Targeting,and...

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