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8-1
MARKETING MANAGEMENT
Market Segments and Targets
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8-2
Chapter Questions
How can markets be segmented?
How can a company best divide a market into segments?
How should a company choose the most attractive target markets?
What are the requirements for effective segmentation?
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8-3
Mature consumers are a rapidly growing market
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8-4
A Mass Market Approach
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8-5
General Motors
Alfred P. Sloan
“A car for every purse and purpose”
• Cadillac
• Oldsmobile
• Pontiac
• Buick
• Chevrolet
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8-6
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8-7
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8-8
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8-9
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8-10
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8-11
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8-12
Mercedes
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8-13
Volvo
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8-14
Volvo
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8-15
Effective Targeting Requires…
• Identify and profile distinct groups of buyers
who differ in their needs and preferences.
• Select one or more market segments to
enter.
• Establish and communicate the distinctive
benefits of the market offering.
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8-16
Basic Market Preference Patterns
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8-17
Segmenting Consumer Markets
GeographicGeographic
DemographicDemographic
PsychographicPsychographic
BehaviouralBehavioural
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8-18
Demographic Segmentation
Age and Life CycleAge and Life Cycle
Life StageLife Stage
GenderGender
IncomeIncome
GenerationGeneration
Social ClassSocial Class
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8-19
Toyota Scion targets Gen Y consumers
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8-20
Patterns of Target Market Selection
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8-21
Customerization
Combines operationally drivenmass customization with customizedmarketing in a way that empowers
consumers to design theproduct and service offering
of their choice.
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8-22
Effective Segmentation Criteria
MeasurableMeasurable
SubstantialSubstantial
AccessibleAccessible
DifferentiableDifferentiable
ActionableActionable
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8-23
Marketing Discussion
http://www.youtube.com/watch?v=VIL04ajbDO4
1. When does it make sense to
“fire your customer?