TR Chapter 09 - Copyright 2007 by Nelson, a division of...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Copyright 2007 by Nelson, a division of Thomson Canada Limited Chapter 9 Chapter 9 Market Market Segmentation, Segmentation, Targeting, and Targeting, and Positioning Positioning 9-2 Copyright 2007 by Nelson, a division of Thomson Canada Limited Chapter Objectives Chapter Objectives 1. Identify the essential components of a market. 2. Outline the role of market segmentation in developing a marketing strategy. 3. Describe the criteria necessary for effective segmentation. 4. Explain each of the four bases for segmenting consumer markets. 5. Identify the steps in the market segmentation process. 6. Discuss four basic strategies for reaching target markets. 7. Summarize the types of positioning strategies. 8. Explain the reasons for positioning and repositioning products. 9-3 Copyright 2007 by Nelson, a division of Thomson Canada Limited Selecting a Target Market Selecting a Target Market Before a marketing mix strategy can be implemented, the marketer must identify, evaluate, and select a target market. Market: Market: people or institutions with sufficient purchasing power, authority, and willingness to buy Target market: Target market: specific segment of consumers most likely to purchase a particular product 9-4 Copyright 2007 by Nelson, a division of Thomson Canada Limited Types of Markets Types of Markets Consumer products: Consumer products: goods or services purchased by an ultimate consumer for personal use Business products: Business products: goods or services purchased for use either directly or indirectly in the production of other goods and services for resale The key to classification is to identify the purchaser and the reasons for buying the goods. 9-5 Copyright 2007 by Nelson, a division of Thomson Canada Limited The Role of Market Segmentation The Role of Market Segmentation Market Segmentation Market Segmentation Division of the total market into smaller, relatively homogeneous groups No single marketing mix can satisfy everyone. Therefore, separate marketing mixes should be used for different market segments. 9-6 Copyright 2007 by Nelson, a division of Thomson Canada Limited Criteria for Effective Segmentation Criteria for Effective Segmentation Market segmentation cannot be used in all cases. To be effective, segmentation must meet the following basic requirements. The market segments must be measurable in terms of both purchasing power and size. Marketers must be able to effectively promote to and serve a market segment. Market segments must be sufficiently large to be potentially profitable. The number of segments must match the firms capabilities. 9-7 Copyright 2007 by Nelson, a division of Thomson Canada Limited Segmenting Consumer Markets Segmenting Consumer Markets Geographic Segmentation: Geographic Segmentation: Dividing an overall market into homogeneous groups on the basis of their locations Does not ensure that all consumers in a location will...
View Full Document

Page1 / 29

TR Chapter 09 - Copyright 2007 by Nelson, a division of...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online