TARGETTING AND SEGMENTING STRATEGIES

Eford model t segment marketing different marketing

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Unformatted text preview: h Their Unique Needs Mass Marketing Same marketing mix (mm) directed at all consumers (no segmentation, i.e.,Ford Model T ) Segment Marketing Different marketing mix (mm) to one or more segments (some segmentation, i.e. GM) Today, Mass Marketers Rarely Practice Mass Marketing Practice In other words Mass Marketers do target almost everyone, but they do not do it with one marketing strategy They develop unique marketing strategies for each major target market Product strategy does not equal marketing mix strategy As we will see you can target the same product to different segments using different promotion, pricing, or distribution strategies Mass Marketing One mm for all Segment Marketing One or more mm targeted to one or more segments Niche Marketing One or more mm targeted to one or more sub-segments Micro Marketing (1-1) One or more mm targeted to specific individuals or communities The Classic Segmentation Variables for Consumer Markets FIGURE 7.3 Demographic Variables Demographic Perhaps the most widely used and most widely available “Objective” Often a proxy for harder to obtain Psychographics – College student and interest in education – 50 year old and interest in retirement funds Psychographics Variables q Personality characteristics Marketers appeal to positive/favorable personal characteristics to influence the purchase decision. q Motives Marketers use individuals’ differing purchase motives to segment a product market. q Lifestyles Marketers segment markets according to how individuals choose to spend their time in various activities, their income, their interest and opinions, and their education. Behaviorist Behaviorist Behaviorist often called “usage” Very straightforward ­ target your users May be hard to get (surprisingly) 80/20...
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This document was uploaded on 01/14/2014.

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