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Chapter 3 Marketing Segmentation

Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

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Market Segmentation The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix.

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Page 1: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

Chapter 3

Marketing Segmentation

Page 2: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

What is Marketing Segmentation?

• Who uses market segmentation?• How does market segmentation operate?

Page 3: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

Market Market SegmentationSegmentation

The process of dividing a potential market into distinct

subsets of consumers and selecting one or more

segments as a target market to be reached with a distinct

marketing mix.

Page 4: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

Mass Mass MarketingMarketing

Offering the same product and marketing mix to all

consumers.

Page 5: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

PositioningPositioningEstablishing a specific image

for a brand in relation to competing brands.

Page 6: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

Bases for Segmentation

• Geographic Segmentation• Demographic Segmentation• Psychological Segmentation• Psychographic Segmentation• Sociocultural Segmentation• Use-Related Segmentation• Usage-Situation Segmentation• Benefit Segmentation• Hybrid Segmentation Approaches

Page 7: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

AIOsAIOs

Psychographic variables that focus on activities, interests, and opinions. Also referred

to as Lifestyle.

Page 8: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

Hybrid Segmentation Approaches

• Psychographic-Demographic Profiles• Geodemographic Segmentation• SRI Consulting’s Values and Lifestyle System

(VALSTM)

Page 9: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

Criteria For Effective Targeting of Market Segments

• Identification• Sufficiency• Stability• Accessibility

Page 10: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

Implementing Segmentation Strategies

• Concentrated Versus Differentiated Marketing• Countersegmentation

Page 11: Chapter 3 Marketing Segmentation. What is Marketing Segmentation? Who uses market segmentation? How does market segmentation operate?

Counterseg-Counterseg-mentation mentation StrategyStrategy

A strategy in which a company combines two or

more segments into a single segment to be targeted with

an individually tailored product or promotion

campaign.