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IDENTIFYING MARKET SEGMENTS AND TARGETS

IDENTIFYING MARKET SEGMENTS AND TARGETS. C HAPTER 9. WHY SEGMENT MARKETS?. What Market Segmentation Means Market segments Product differentiation Segmentation: Linking Needs to Action. Market segmentation links market need to an organization’s marketing program. WHY SEGMENT MARKETS?.

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IDENTIFYING MARKET SEGMENTS AND TARGETS

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  1. IDENTIFYING MARKET SEGMENTS AND TARGETS CHAPTER 9

  2. WHY SEGMENT MARKETS? • What Market Segmentation Means • Market segments • Product differentiation • Segmentation: Linking Needs to Action

  3. Market segmentation links market need to an organization’s marketing program

  4. WHY SEGMENT MARKETS? • What Market Segmentation Means • How Reebok’s Segmentation Strategy Developed • Using Market-Product Grids

  5. Market-product Grid: How Reebok shoes reach segments of customers

  6. WHY SEGMENT MARKETS? • When to Segment Markets • One Product and Multiple Market Segments • Multiple Products and Multiple Market Segments • Segments of One: Mass Customization • The Segmentation Trade Off: CRM versus synergies

  7. STEPS IN SEGMENTING AND TARGETING MARKETS The process of segmenting and targeting markets involves five key steps

  8. STEPS IN SEGMENTING AND TARGETING MARKETS • Form Prospective Buyers into Segments • Criteria to Use in Forming the Segments • Potential for increased profit and ROI • Similarity of needs of potential buyers in a segment • Difference of needs of buyers among segments • Feasibility of a marketing action reaching segment • Simplicity and cost of assigning buyers to markets • Ways to Segment Consumer Markets • Usage rate • 80/20 rule

  9. Segmentation variables and breakdowns for U.S. consumer markets

  10. Segmentation variables and breakdowns for U.S. organizational markets

  11. STEPS IN SEGMENTING AND TARGETING MARKETS • Form Products to Be Sold into Groups • Develop a Market-Product Grid and Estimate Size of Markets

  12. STEPS IN SEGMENTING AND TARGETING MARKETS • Select Target Markets • Criteria to Use in Picking the Target Segments • Market size • Expected growth • Competitive position • Cost of reaching the segment • Compatibility with objectives and resources • Choose the Segments • Take Marketing Actions to Reach Target Markets • Your Wendy’s Segmentation Strategy • Apple’s Ever-Changing Segmentation Strategy

  13. ANALYZING MARKET SEGMENTS USING CROSS-TABULATIONS • Developing Cross-Tabulations • Pairing the Questions • Forming Cross-Tabulations • Interpreting Cross-Tabulations • Value of Cross-Tabulations

  14. POSITIONING THE PRODUCT • Two Approaches to Product Positioning • Head-to-head positioning • Differentiation positioning

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