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Identifying Market Segments and Targets
Popo Hartoyo (18201025035)
Hafizh Akhiruddin (18201025041)
Yesy Nur Sanndah (18201025037)
Market Segmentation
Geographic Psychographic
Demoghraphic Behavioral
Geographic
location, race, condition
Psychographic
Social class, personalities, lifestyle
Demoghraphic
,
Age, life stage , gender, income
Behavioral
Segmentation Criteria
Differentiable
Actionable
Accessible
Substantial
Measureable
Market segmentation divides a market into well-defined slices.A market segment consists of a group of customers who share a similar set of needs and wants.The marketer’s task is to identify the appropriate number and nature of market segments and decide which one(s) to target.
The overall aim of segmentation is to identify high yield segments – that is, those segments that are likely to be the most profitable or that have growth potential – so that these can be selected for special attention
• Measureable about size, purchasing power, profiles of segments can be measured
• Substantial, segments are large or profitable enough to serve
• Accessible, segments can be effectively reached and served
• Actionable, effective programs can be designed to attract and serve the segments
• Differentiable, segments must respond differently to different marketing mix elements and programs
Threats are follow
Threat of intense segment rivalry
Threat of new entrants
Threat of substitute products
Threat of buyers growing bargaining power
Threat of suppliers growing bargaining power
Evaluating and Selecting The Market Segments
SingleSegment
Concentration
Individual Marketing
Legal and Ethical Issues With Market
Targets
Multiple Segment
Specialization
Full Market Coverage
Market segment evaluation and selection is one of the important problems for every company. The major part of the related literature concentrates on the important features for doing this evaluation and very little research has been done on the evaluation of segment attractiveness and market segment selection.
Evaluating and Selecting The Market Segments
Single Segment Concentration
Individual Marketing
Legal and Ethical Issues With Market
Targets
Multiple Segment
Specialization
Full Market Coverage
Evaluating and Selecting The Market Segments
SingleSegment
Concentration
Individual Marketing
Legal and Ethical Issues With Market
Targets
Multiple Segment
Specialization
Full Market Coverage
Evaluating and Selecting The Market Segments
• Full Market Coverage , a firm attempts to serve all customer groups with all the products they might need
• Multiple Segment Specialization, a firm selects a subset of all the possible segments, each objectively attractive and appropriate
• Single-Segment Concentration , the firm markets to only particular segment
• Individual Marketing , “segments of one”, “customized marketing”, or “one to one marketing”.
• Legal and Ethical Issues With Market Targets, Marketers must target carefully to avoid consumer backlash.
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