TARGETTING AND SEGMENTING STRATEGIES

TARGETTING AND SEGMENTING STRATEGIES

Info iconThis preview shows page 1. Sign up to view the full content.

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

Unformatted text preview: r every purpose, purse, and personality” vs. Fords one car for every purpose for every purse for every personality” • Typically, for most firms, this means you go for a small share of the larger, total aggregate market (one or two mm for one or two segments (out of maybe six or seven) Concentrated Marketing • The firm goes for a large share of a single (or very few) segments. • Scorpio vs. Scoda • Can be niched or larger FIGURE 7.2 IT IS CRITICAL TO UNDERSTAND THAT UNDERSTAND Mass marketers do not often practice mass marketing today They practice differentiated marketing They likely do not change the product to appeal to different segments They change price, place, and promotion The Classic Segmentation Variables for Consumer Markets FIGURE 7.3 IT IS CRITICAL TO UNDERSTAND THAT UNDERSTAND Mass marketers do not often practice mass marketing today They practice differentiated marketing Often they do not change the product to appeal to different segments They change price, place, and promotion Having ID’ed the Targeting Strategy and Determined Segmentation Variables We develop different segment profiles Evaluate these for profitability And select the target markets we want to enter Finally We Position 2. 2. 3. 3. Market Segmentation ((ID) Market Segmentation ID) Determine which Determine which segmentation variables to use segmentation variables to use Develop market segment profiles Develop market segment profiles 4. 4. 5. 5. Market Targeting ((Evaluate) Market Targeting Evaluate) Evaluate relevant market segments Evaluate relevant market segments Select target markets Select target markets Having Finished the Target Market Selection Process We Act! Market Positioning ((Enter) Market Positioning Enter) •• Develop positioning Develop positioning ffor target segments or target segments •• Develop a marketing Develop a marketing mix for each segment mix for each segment...
View Full Document

This document was uploaded on 01/14/2014.

Ask a homework question - tutors are online