{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

0324536380_77279 - 9 CHAPTER Marketing Segmentation...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter Objectives Marketing Segmentation, Targeting, and Positioning CHAPTER 9 1 2 4 7 8 Identify the essential components of a market. Outline the role of market segmentation in developing a marketing strategy. Describe the criteria necessary for effective segmentation. Explain the geographic, domestic, and psychographic approaches to segmenting consumer markets. Describe product-related segmentation. Identify the steps in the market segmentation process. Discuss the four basic strategies for reaching target markets. Summarize the types of positioning strategies, and explain the reasons for positioning and repositioning products. 5 3 6
Background image of page 1

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

View Full Document Right Arrow Icon
CHAPTER 9 Marketing Segmentation, Targeting, and Positioning Market Group of people with sufficient purchasing power, authority, and willingness to buy. • An individual’s lifestyle, income, geographic location, age, and other factors all contribute to the likelihood that person will buy certain products. Target market Group of people to whom a firm decides to direct its marketing efforts and ultimately its goods and services. • Allows firms to develop more efficient and effective marketing strategies. • Marketers must study a market to segment and communicate with it effectively.
Background image of page 2
CHAPTER 9 Marketing Segmentation, Targeting, and Positioning TYPES OF MARKETS Consumer products Products bought by ultimate consumers for personal use. Business products Goods and services purchased for use either directly or indirectly in the production of other goods and services for resale. • A product can be either, depending on its use.
Background image of page 3

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

View Full Document Right Arrow Icon
CHAPTER 9 Marketing Segmentation, Targeting, and Positioning THE ROLE OF MARKET SEGMENTATION • With 6.5 billion people in the world and 300 million in U.S., too many potential customers to attract with a single marketing mix. Market segmentation Division of the total market into smaller, relatively homogenous groups. CRITERIA FOR EFFECTIVE SEGMENTATION • Segment must have measurable size and purchasing power. • Marketers must find a way to promote effectively to and serve the market segment. • Segment must be sufficiently large to offer good profit potential. • Firm must aim for segments that match its marketing capabilities.
Background image of page 4
CHAPTER 9 Marketing Segmentation, Targeting, and Positioning SEGMENTING CONSUMER MARKETS • Attempt to isolate the traits that distinguish a certain group of consumers from the overall market.
Background image of page 5

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

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}