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Chapter 8IDENTIFYING MARKET
SEGMENTS AND SELECTING TARGET MARKETS
May 8, 2010
Martin Anthony A. Villa, MD“V10- The Power Engine”
Ateneo MBA-H Batch 8
<www.myvaricosevein.com>
In Conclusion…
The Clients…
CONCEPTS
Segment to segment plan
Patterns of Market Target
Selection
Effective Segmentation
Criteria
Segmenting Consumers
Levels of Market
Segment
Levels of Market Segmentation
Mass marketing Segment marketing Niche marketing Local marketing Individual marketing
MASS MARKETING Mass production, mass distribution, and mass
promotion of one product for all buyers.
Levels of Market Segmentation
MASS MARKETING Mass production, mass distribution, and mass
promotion of one product for all buyers.
Levels of Market Segmentation
SEGMENT MARKETING Market segment: a group of customers who
share a similar set of needs & wants. The marketer’s task: identify (NOT create) the
segments and decide which one(s) to target.
Levels of Market Segmentation
LOCAL MARKETING The marketing programs are tailored to the
needs and wants of local customer groups. Grass root marketing for trading areas,
neighborhood and individual stores
Levels of Market Segmentation
NICHE MARKETING A more narrowly defined group seeking a
distinctive mix of benefits. Determine the attractiveness of a niche
Distinctness of need Premium Competitors Specialization Size, profit and growth potential
The globalization and internet facilitates have made niche more feasible
Levels of Market Segmentation
INDIVIDUAL MARKETING The ultimate level of segmentation Customerization One on one
Levels of Market Segmentation
INDIVIDUAL MARKETING The ultimate level of segmentation Customerization One on one
Levels of Market Segmentation
Segmenting Consumer Markets
Geographic segmentation
Geographic segmentation Demographic segmentation
Age and life cycle stage, life stage, generation Gender Income, social class, occupation
Segmenting Consumer Markets
Geographic segmentation Demographic segmentation Psychographic segmentation
Segmenting Consumer Markets
Geographic segmentation Demographic segmentation Psychographic segmentation Behavioral segmentation
Segmenting Consumer Markets
MARKET TARGETING
5 key criteria for a useful market segment Measurable
The size, purchasing power and characteristics of the segments can be measured.
MARKET TARGETING
5 key criteria for a useful market segment Measurable Substantial
The segment are large and profitable enough to serve. The objective is to have the largest homogenous group.
MARKET TARGETING
5 key criteria for a useful market segment Measurable Substantial Accessible
The segment must be effectively reached and served.
MARKET TARGETING
5 key criteria for a useful market segment Measurable Substantial Accessible Differentiable
Segment are conceptually distinguishable and respond differently. If not they should not be segmented.
MARKET TARGETING
5 key criteria for a useful market segment Measurable Substantial Accessible Differentiable Actionable
Effective program can be formulated to attract and serve the segment.
Patterns of Target Market Selection
PRODUCT
P1
P2
P3
M1 M2 M3 MARKET
Single Segment Concentration
Patterns of Target Market Selection
PRODUCT
P1
P2
P3
M1 M2 M3 MARKET
Selective specialization
Patterns of Target Market Selection
PRODUCT
P1
P2
P3
M1 M2 M3 MARKET
Product Specialization
Patterns of Target Market Selection
PRODUCT
P1
P2
P3
M1 M2 M3 MARKET
Market Specialization
Patterns of Target Market Selection
PRODUCT
P1
P2
P3
M1 M2 M3 MARKET
Full Market Coverage
Patterns of Target Market Selection
Marketing must develop segment to segment invasion plans and choose target market in a socially responsible manner at all times.
PRODUCT
P1
P2
P3
M1 M2 M3 MARKET
Patterns of Target Market Selection
Middle age Female
MARKET
ElderlyFemale
YoungTeen Female
Mammography Pap smear HPV Vaccine
PRODUCT
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
PRODUCT
Mammography
Middle age Female MARKET
ElderlyFemale
YoungTeen Female
Pap smear
HPV Vaccine
Segment to Segment Plan
… the customers is a very heterogenous crowd.
… there is a need to re cluster them into smaller homogenous group
…this is a focus target group in marketing strategic planning for particular product.
CONCLUSION:
Chapter 8IDENTIFYING MARKET
SEGMENTS AND SELECTING TARGET MARKETS
May 8, 2010
Martin Anthony A. Villa, MD“V10- The Power Engine”
Ateneo MBA-H Batch 8
<www.myvaricosevein.com>
Target Marketing
3 activities: Market Segmentation Market Targeting Market Positioning
Steps in Segmentation Process
Need based segmentation Similar needs and benefits
Segment identification In relation to demographics, lifestyle and
behavior Segment attractiveness
Segment profitability Segment positioning Segment acid test Market mix strategy
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