《精编》Market,Segmentation,and,Targeting

MarketSegmentationandTargeting MarketSegmentation Marketscanbehugeanddiverseentitiesmadeupofindividuals Sinceindividualwantsandneedstendtodiffer tryingtomassmarkettoawholemarketoftenisinefficient Costingtoomuchtimeandmoney andhurtingprofitpotential Therefore acompanyshouldfocusortargetspecificgroupsorsegmentsofindividualstoenhanceprofitopportunities MarketSegmentation Somewillarguethatmassmarketingisbetter becauseloweroverallproductioncostsareachieved Lowerexpensesthenleadstohigherprofits However unlessalmosteveryoneisbuyingyourproduct service thelowerexpenseswillnotnecessarymeanhigherprofits MarketSegmentation Asamarketer definingandidentifyinggroupsofindividualswhowillpayforyourproductorserviceisanimportanttask Thinkofthistaskastryingtotakeadvantageofthecostsavingsofmassmarketing butonasmallerscale Or conductingmassmarketingtogroupsinsteadofthemarketasawhole MarketSegmentation Definition Amarketsegmentsaregroupsofhigh potentialprospectivecustomerswithcommoncharacteristicsandneedsthatdistinguishthemfromotherhigh potentialmarketsegments MarketSegmentation TypesofSegmentation Segment general focusesoncustomerswhoshareasimilarsetofwants Niche focusesoncustomerswhoseekadistinctsetofbenefits oftencalledsub segmentation Local focusesonthewantsofcustomersinaspecificlocation Customerization focusesoncustomizingtheproductorservicetofitthecustomer sspecificwants theultimateinsegmentation MarketSegmentation BasesforSegmentingCustomerMarkets GeographicDemographicPsychographicBehavioral MarketSegmentation GeographicSegmentation Thisbasisforsegmentationcallsfordividingthemarketintodifferentgeographicunits i e provinces counties cities towns neighborhoods etc MarketSegmentation DemographicSegmentation Thisbasisofsegmentationcallsfordividingthemarketsintogroupsbasedonageand orothervariables Demographicsegmentationispopular becausethevariablesareeasiertomeasre MarketSegmentation SomeofthevariablesconsideredinDemographicSegmentation Ageandlife cyclestageLifestageGenderIncomeSocialclassGenerationEthnicity MarketSegmentation PsychographicSegmentation Thisbasisofsegmentationgroupspotentialcustomersaccordingtopsychological personalitytraits lifestyles orvalues MarketSegmentation BehavioralSegmentation Thisbasisofsegmentationdividescustomersintogroupsaccordingtotheirknowledgeof attitudetoward useof orresponsetoaproductorservice MarketSegmentation VariablesconsideredinBehavioralSegmentation Occasions need use BenefitsUserStatusUsageRateBuyer readinessstageLoyaltystatusAttitude MarketSegmentation Intheend therearemanydifferentwaystosegmentamarket Howyousegmentthemarketisyourdecision Alwayskeepyourproductorserviceinmindwhenyousegment orelseyoursegmentationactivitieswillbeawasteoftimeandmoney MarketTargeting Afteryouhaveidentifiedthepossiblemarketsegmentsandopportunities whichsegmentsandhowmanysegmentstotargetorfocusonisyournextstep MarketTargeting EffectiveSegmentationCriteria Tobeusefulinyourmarketingefforts marketsegmentsmustratefavorablyonfivekeycriteria Thesegmentsmustbe MeasurableSubstantialAccessibleDifferentiableActionable MarketTargeting Whenuatingdifferentmarketsegments twofactorsmustbeconsidered Thesegment soverallattractivenessThecompany sobjectivesandresources MarketTargeting TypesofTargetingDecisions Single segmentconcentrationSelectivespecializationProductspecializationMarketspecializationFullmarketcoverage MarketTargeting Single segmentconcentrationtargeting Thischoiceinvolvesconcentratedmarketing Thecompanygainsathoroughunderstandingofthechosensegment sneedsandachievesastrongmarketpresence i e mostluxurygoods MarketTargeting Selectivespecializationtargeting Anumberofsegmentsareselected eachobjectivelyattractiveandappropriate Littleornosynergymayexistamongthesegments buteachsegmentpromisestomakemoneyforthecompany i e carmanufacturers MarketTargeting Productspecializationtargeting Underthisarrangement thecompanyspecializesinmakingacertainproductforseveralsegments Theproductmightbefurtherspecializedforeachsegment i e TexasInstrumentcalculators Theriskistechnologicalchangemightendtheneedfortheproduct MarketTargeting Marketspecializationtargeting Focusisonservingtheneedsofaparticularcustomergroup i e defensecontractors Therisksarebudgetcutsandgroupshrinkage MarketTargeting Fullmarketcoveragetargeting Aattemptismadetoserveallcustomergroupswithalltheproductstheymightneed Onlyafewlargecompaniescanemploythistargetingeffectively butsometimeeventheyfail MarketTargeting Fullmarketcoveragetargeting UndifferentiatedversusdifferentiatedmarketingUndifferentiated ignoressegmentdifferencesandoffersonlyoneproductDifferentiated operatesinseveralsegmentandoffersdifferentproductsforeachSalestendtobehigherfordifferentiatedmarketing butsoarecosts MarketTargeting Additionalconsiderations Segment by segmentinvasions enteringonesegmentatatimeandavoidinglettingrivalsknowwhichsegmentisnext goodplanningrequired Updatingsegmentationarrangements segmentationanalysisneedstobeonaregularbasis Ethicalchoiceoftargetmarkets sometimesachoicecan