This preview shows page 1. Sign up to view the full content.
Unformatted text preview: rule (80% sales are to 20% of your customers Ethical? – Vodka targeting alcoholics? Geographic
Geographic If you are a regional firm then Geo targeting is also self evident Some firms have regional product mix (grocery stores and “ethnic” foods. Even national firms may target regionally. – Product may mean different things in different parts of the country
– Coke or Pop or Soda and is it a breakfast drink? We Slice and Dice Segments
We Typically using more then one variable or type of segmentation variable
– Use multiple Demographic Variables such as age, gender, income &
– Use various Demographic, Psychographic, Geographic, and Behaviorist Variables Art as much as science
– So can come up with different segments using different variables and different analytical/statistical techniques Geodemographic Segmentation
Geodemographic Marketing segmentation that clusters people in pim code areas and smaller neighborhood units based on lifestyle (psychographic) and demographic information – (Combines Geographic and Demographic info) Example are PRIZM and MicroVision Psychographics and
Demographics VALS & VALS 2 Based on values, lifestyles, and demographic Therefore, combines Psychographic and Demographic variables VALS 2
VALS 2 Type,
1996 FIGURE 7.6 TARGET MARKET
SELECTION Once We Have Our Segments
We Need to Target Them With a
Marketing Three options: –
Concentrated Targeting Strategies •
• The classic mass marketing, all things to all people approach
Rarely used today – Name an undifferentiated product?
FIGURE 7.2 FIGURE 7.2 Differentiated Strategy (cont.) • The firm decides to target several separate segments and designs
separate marketing strategies for each
• GM’s “a car fo...
View Full Document
- Fall '14