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Practical Application of Value Segmentation or …How to Get Your Man, Woman and Child

Practical Application of Value Segmentation or …How to Get Your Man, Woman and Child. What a Marketing Segmentation Does. A segmentation helps get inside the mind of customers It should identify distinct customer groups in terms of: what each segment is looking for how they pioritise

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Practical Application of Value Segmentation or …How to Get Your Man, Woman and Child

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  1. Practical Application of Value Segmentation or …How to Get Your Man, Woman and Child

  2. What a Marketing Segmentation Does • A segmentation helps get inside the mind of customers • It should identify distinct customer groups in terms of: • what each segment is looking for • how they pioritise • This is likely to be reflected in: • different holiday and leisure behaviour • different purchase drivers • the use of different information channels • their response to different marketing messages • It allows you to target: • your product, • your resources • and your marketing

  3. 4 Types of Segmentation • Socio-demographic - segments based on age, sex and class • easy to create • easy to apply • but poor predictor of leisure interests and holiday behaviour • Behavioural - segments based on actual behaviour • requires activity data - purchase, brand choice • can be good predictor of same activity • unstable if key brand or activity changes segmentation no longer valid • Psycho-metric - based on personality statements • designed to understand the type of person you are • can be excellent aid to sales strategies indicating the approach to take • can be taken to far and ignore life circumstances

  4. The Value Based Segmentation • A Hybrid Based on concept that delivering appropriate quality is the key to success • similar to psychometric approaches as based on people’s core values • but based on two components • the values that will influence the style and type of experience people prefer • the aspects of a service or product people value • i.e. it is grounded in how people really make their choices • Benefits • Good predictor of activity • Longevity – people’s core values do not change quickly • Increasingly easy to incorporate into CRM systems

  5. Good value based segmentation should be predictive: Allowing you to develop segment based itineraries e.g. City breaks for Style Hounds Gardens and villages for Traditionals • Who wants self catering and who would be likely to prefer an independent hotel? Making Use of a Value Based Segmentation

  6. Making Use of a Value Based Segmentation • Communicating the benefits of your attractions in appropriate ways • Identifying how to sell product to each segment – e.g. Leeds Castle as a Romantic day out – (just happens to be in a garden) • Market testing of campaigns aimed at specific segments – e.g. three treatments sent to 3 sets of 100 Discoverers on CRM database to see which gets the best response

  7. What if your existing CRM data base is missing some key segments • Use a DM list that can target the demographic segments you want • Create literature that will create direct response or drive business to your web site • If you are seeking to base your appeal on customers aspirations then you need to match the DM list to the groups you are targeting. • Life stage/style can help • ArkZone is additional benefit

  8. Supporting Materials

  9. Style Hounds Style Hounds are • very brand/ fashion conscious, they see fashion as delivering style. • not keen to be seen as old fashioned. • early adopters, will go for things that are new/ ‘out of the ordinary’, believing that they are setting the fashion. • risk takers who like to try new and different things, they live a full and active life. They • like to be part of the latest trends • are strongly influenced by others, with the spending power to do what they want. • if they have money they are ready to spend it. • will pay for better service – which to them means ‘more to do’ more fun. • haven’t much interest in more ‘sophisticated’ arts, or cerebral activities. • Peace and relaxation in the traditional sense is not what they look for; fun and excitement is what defines a good time.

  10. Magazines Newspapers • Heavy watchers of TV Television Style Hounds • Interests • Shopping • Cinema • Attending sports events • Video games • Demographics • 10% of the GB population • A young group; 60% under 34. • Very high internet access; 79% • 58% have no children at home • 50% married, 35% single • 60% ABC1 • 55% working full time • 76% have taken an overseas holiday in the last 3 years

  11. For more information please contact: Crawford Christie or Ben Moxon at Arkenford Ltd The Old Coach House Wharf Road Guildford GU1 4RP O1483 510 310 www.arkenford.co.uk

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