Market Segmentation Previously Definition of Marketing Purpose of Marketing Marketing Concept 7 Functions of Marketing Channel Management Financing Marketing Information Management Pricing ID: 426127
Download Presentation The PPT/PDF document "November 11, 2010" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
November 11, 2010
Market SegmentationSlide2
Previously…
Definition of Marketing
Purpose of Marketing
Marketing Concept7 Functions of Marketing
Channel Management
Financing
Marketing Information Management
Pricing
Product / Service Management
Promotion
SellingSlide3
Includes marketing research
You can’t sell your product if you don’t know who your customers are!
Marketing research is used for
market segmentation, the process of classifying customers in a market into smaller groups.Marketing Info ManagementSlide4
Stand Up!
Push in your chair.
Line up in the middle of the classroom, from the front to the back. Order does not matter.
Listen for instructions Slide5
Move to the
FRONT
of the room if…
You consider yourself to have more traditional tastes. You know what you like, and you stick with it.
Move to the
BACK
of the room if…
You consider yourself to have trendier tastes. You like change, and you look for a fun or modern appeal.Slide6
Move to the
LEFT
side of the room if…
You are a health-conscious eater.
Move to the
RIGHT
side of the room if…
You prefer to eat what tastes good.Slide7
Marketing Cereal Brands
Healthy
Tasty
Traditional
TrendySlide8
Back to Center!
Line up in the middle of the classroom, from the front to the back. Order does not matter.
Listen for instructions
Slide9
Move to the
FRONT
of the room if…
You prefer the busy, fast pace life of the city.
Move to the
BACK
of the room if…
You prefer the calm, laid back pace of the country.Slide10
Move to the
LEFT
side of the room if…
You prefer warm weather.
Move to the
RIGHT
side of the room if…
You prefer cold weather.Slide11
Marketing Vacation Trips
Warm
Cold
City
CountrySlide12
Market Segmentation
Classification of customers by wants and needs
Creates smaller, more precise target marketsSlide13
What is a Target Market?
Group of people identified as the most likely to become customers
These are the people a business wants to reach with their goods or services!Slide14
Segmentation FactorsSlide15
Definition
Refers to statistics that describe a population in terms of personal characteristics
Age
Gender
Income
Marital Status
Ethnic Background
Education
Occupation
Demographic
ExamplesSlide16
Definition
Based on where people live
Local
Regional
National
Global
Geographic
ExamplesSlide17
Definition
Grouping people with similar lifestyles
Grouping people with shared attitudes, values, opinions
Activities
Attitudes
Personality
Values
Psychographic
ExamplesSlide18
Definition
Involves looking at the benefits desired by consumers, at shopping patterns, and at usage rates
Sometimes referred to as Product Benefit segmentation
Teenagers spend about $50 a month on entertainment.
Teenage girls spend 15% more on music than teenage boys.
Today’s young adults desire affordable luxuries.
Behavioral
ExamplesSlide19
On your handout, decide if each item is:
Demographic
Geographic
PsychographicBehavioral
Label each with a D, G, P, or B.
See What You Know!Slide20
Where have you seen or completed a survey like this before?
How can marketers use this information?
How else can businesses collect this kind of information from customers?
Let’s Talk About It!Slide21
Market segmentation characteristics help to create customer profiles.
A
customer profile
is a list of information or common characteristics about a target market.Customer ProfilesSlide22
Profile Project!
You will use a profile to identify products potentially targeted to your customer.Slide23
Market Segmentation
Target Market
Segmentation Factors
Customer ProfilesSummary