Session 6 - Segmentation

Session 6 - Segmentation - Segmentation Session 6...

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1 Segmentation Session 6 Introduction to Marketing Professor Greenleaf Fall 2011
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Session 6 – Segmentation 2 Today’s Agenda What is segmentation strategy? Why do marketers need to segment? Three major types of segments Market research in segmentation Strengths and weaknesses of each type of segmentation
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Session 6 – Segmentation 3 What is segmentation strategy? Identify target segment(s) of consumers instead of mass marketing Create product that satisfies target segment’s needs Communicate with target segment effectively and efficiently Sometimes firms must find best target segment for existing product
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Session 6 – Segmentation 4 Examples of successful segmentation – Harley-Davidson Motorcycles
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Session 6 – Segmentation 5 Examples of successful segmentation – PetTaxi.com
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Session 6 – Segmentation 6 Why marketers need to segment Once most marketing was “mass marketing” Ford Model T Milk New York City subway
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Session 6 – Segmentation 7 Mass marketing has disappeared Doesn’t satisfy consumer needs well Creates ineffective and inefficient communications Wastes marketing resources
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Session 6 – Segmentation 8 Successful firms use segmentation strategy- e.g. focus on a single segment
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Session 6 – Segmentation 9
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Session 6 – Segmentation 10 Variants of the same product to different segments
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Session 6 – Segmentation 11 Different products to different segments More expensive Diversifies risk
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Session 6 – Segmentation 12 Characteristics of a good target segment Differential response Preferences differ from other segments Differential accessibility Can focus communications on this segment without need to reach other segments High segment potential Focusing on this segment helps firm achieve its objectives
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Session 6 – Segmentation 13 Segments with less competition WSJ, 9.10.07
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Session 6 – Segmentation 14 Must examine more than one segment to find the “best” segment Segments only have meaning in comparison to each other A segment makes a “good” or “bad” target segment only in comparison to other segments Good segmentation research compares several segments
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This note was uploaded on 04/05/2012 for the course STERN MKTG-UB.1. taught by Professor Greenleaf during the Fall '11 term at NYU.

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Session 6 - Segmentation - Segmentation Session 6...

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