s.no. - 2/3 lecture title – market segmentation module – 2 (healthcare marketing and patients...
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S.No. - 2/3LECTURE TITLE – MARKET
SEGMENTATION
MODULE – 2 (HEALTHCARE MARKETING AND PATIENTS RELATIONS MANAGEMENT
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Market Segmentation ICRI, Mumbai
Steps in Market Segmentation, Targeting, and Positioning
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Market Segmentation (Research)1. Identify bases for segmenting the market2. Develop segment profiles
Market Targeting3. Develop measure of segment attractiveness4. Select target segments
Market positioning5. Develop positioning for target segments6. Develop a marketing mix for each segment
Step 1. Market SegmentationLevels of Market Segmentation
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Through Market Segmentation, Companies Divide Large, Heterogeneous Markets into Smaller Segments that Can be Reached More Efficiently And Effectively With Products and Services That Match Their Unique Needs.
Mass MarketingSame product to all consumers (no segmentation, e.gn early nineties - Coca-Cola/ in eighties – Ford ; only black)
MicromarketingProducts to suit the tastes of individuals and locations (complete segmentation)
Levels of Market Segmentation
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Niche MarketingDifferent products to subgroups within segments(more segmentation, i.e. Standard or Luxury SUV’s)
Segment MarketingDifferent products to one or more segments(some segmentation, i.e. Marriott/ airlines)
Local MarketingTailoring brands/ promotions to local customer groups, i.e Sears
Individual MarketingTailoring products and programs to the needs of individual customers, i.e. Dell
SEGMENT MARKETING FLEXIBLE MARKET OFFERINGNAKED SOLUTION- value for all segment
membersDISCRETIONARY OPTIONS – some members
value; each option for additional chargeEXAMPLE- different models of car in the
same segment/ airlines (business v/s economy PREFERENCE SEGMENTS –
Homogenous preferenceDiffused preference Clustered preference
NICHE MARKETINGA more narrowly defined customer group
seeking a distinctive mix of benefitsSegments divided into subsegments
Distinctive set of needsPay a premium to firm satisfying these needsNiche segment is not likely to attract other
competitorsNicher gains economies through specialisationNiche has size, profit, growth potential
“Guerilla against Gorilla”IBM/ ezee/ Crack/ Genentech (cancer drugs)/
Spirulina/ German tech firms
Step 1. Market SegmentationGeographic Segmentation
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Density or Climate
City or Metro Size
World Region or Country
Step 1. Market SegmentationDemographic Segmentation
Dividing the market into groups based on variables such as:AgeGenderFamily size or life cycleIncomeOccupationEducationReligionRaceGenerationNationality
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Step 1. Market SegmentationPsychographic Segmentation
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Divides Buyers Into Different Groups Based on:
Step 1. Market SegmentationBehavioral Segmentation
Dividing the market into groups based on variables such as:OccasionsBenefitsUser statusUsage rateLoyalty statusReadiness stageAttitude toward product
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Segmenting Business Markets
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DemographicsDemographics
Operating VariablesOperating Variables
Purchasing ApproachesPurchasing Approaches
Situational FactorsSituational Factors
Personal CharacteristicsPersonal Characteristics
Business Marketers Use Many of the Same Consumer Variables, Plus:
Segmenting International Markets
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Factors Used to Segment International Markets
Geographic Location
EconomicFactors
Political and Legal Factors
Cultural Factors
Step 1. Market SegmentationRequirements for Effective Segmentation
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• Size, purchasing power, profiles of segments can be measured.
• Segments can be effectively reached and served.
• Segments are large or profitable enough to serve.
Measurable Measurable
AccessibleAccessible
SubstantialSubstantial
DifferentialDifferential
ActionableActionable
• Segments must respond differently to different marketing mix elements & programs.
• Effective programs can be designed to attract and serve the segments.
Step 2. Market TargetingEvaluating Market SegmentsSegment Size and Growth
Analyze current sales, growth rates and expected profitability for various segments.
Segment Structural AttractivenessConsider effects of: competitors, availability of
substitute products and, the power of buyers & suppliers.
Company Objectives and ResourcesCompany skills & resources needed to succeed in
that segment(s).Look for Competitive Advantages.
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Step 2. Market TargetingMarket Coverage Strategies
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Segment 1Segment 1
Segment 2Segment 2
Segment 3Segment 3
Segment 1Segment 1
Segment 2Segment 2
Segment 3Segment 3
CompanyMarketingMix
CompanyMarketingMix
CompanyMarketingMix
CompanyMarketingMix
CompanyMarketing Mix 1
CompanyMarketing Mix 1CompanyMarketing Mix 2
CompanyMarketing Mix 2CompanyMarketing Mix 3
CompanyMarketing Mix 3
MarketMarket
A. Undifferentiated Marketing
B. Differentiated Marketing
C. Concentrated Marketing
Step 2. Market TargetingChoosing a Market-Coverage Strategy
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Company ResourcesCompany Resources
Product VariabilityProduct Variability
Product’s Stage in the Life CycleProduct’s Stage in the Life Cycle
Market VariabilityMarket Variability
Competitor’s Marketing StrategiesCompetitor’s Marketing Strategies
Socially Responsible Target MarketingSmart targeting helps companies and
consumers alike.Target marketing sometimes generates
controversy and concern.Disadvantaged and vulnerable can be targeted.Cigarette, beer, and fast-food marketers have
received criticism in the past. Internet has come under attack because of the
loose boundaries and lack of control in marketing practices.
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Discussion ConnectionAt the last Discussion Connection, you
segmented the U.S. footwear market. Now, pick two companies that serve this market
and describe their segmentation and targeting strategies.
Can you come up with one that targets many different segments versus another that focuses on only one or a few segments?
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How does each company you choose differentiate its marketing offer and image?
How has each done a good job of establishing this differentiation in the minds of targeted consumers?
Step 3. Choosing a Positioning StrategyProduct’s Position - the way the product is
defined by consumers on important attributes - the place the product occupies in consumers’ minds relative to competing products.
Marketers must:Plan positions to give their products the greatest
advantage in selected target markets,Design marketing mixes to create these planned
positions.
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Step 3. Choosing a Positioning Strategy
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Step 1. Identifying Possible Competitive Advantages
Step 2. Selecting the Right Competitive Advantage
Step 3. Communicating and Delivering the Chosen Position
Identifying Possible Competitive AdvantagesKey to winning and keeping customers is to
understand their needs and buying processes better than competitors do and deliver more value.
Competitive advantage is an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits, that justify competitive advantage,
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Identifying Possible Competitive Advantages
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ServicesDifferentiationi.e. Delivery, Installation, Repair Services, Customer Training Services
Product Differentiationi.e. Features, Performance, Style & Design, or Attributes
ImageDifferentiationi.e. Symbols, Atmospheres, Events
Personnel Differentiationi.e. Hiring, Training Better People Than Competitors Do
Choosing the Right CompetitiveAdvantages
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CriteriaFor DeterminingWhich DifferencesTo Promote
AffordableAffordable SuperiorSuperior
ProfitableProfitable
PreemptivePreemptive
DistinctiveDistinctive
ImportantImportant
CommunicableCommunicable
Selecting an Overall Positioning Strategy (Fig. 7.4)
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MoreforMore
Morefor thesame
More forLess
The samefor less
Less formuchless
Price
More The same Less
More
The Same
Less
Ben
efit
s
Communicating and Delivering the Chosen PositionOnce position is chosen, company must take
strong steps to deliver and communicate the desired position to target consumers.
All the company’s marketing mix must support the positioning strategy.
Positioning strategy must be monitored and adapted over time to match changes in consumer needs and competitor’s strategies.
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Review of Concept ConnectionsDefine the three steps of target marketing:
market segmentation, market targeting, and market positioning.
List and discuss the major levels of market segmentation and bases for segmenting consumer and business markets.
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Explain how companies identify attractive market segments and choose a market-coverage strategy.
Discuss how companies can position their products for maximum competitive advantage in the marketplace.
Thank You