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Principles of Marketing Lecture 5: Market Segmentation, Targeting and…
Principles of Marketing
Lecture 5: Market Segmentation, Targeting and Positioning
(2) Ways to Segment Consumer Market
1. Customer Characteristics
G
eographic
D
emographic
P
sychographic
2. Buying Response
O
utlet Type
B
enefits Soughts
U
sage/Patronage
A
wareness/Intention
B
ehaviour
(1) 5 Criteria to Form Segment
P
otential for Increased Profits
S
imilarity of Needs of Potential Buyers Within a Segment
D
ifference of Needs of Buyers Among Segments
P
otential of a Marketing Action to Reach Segment
S
implicity and Cost of Assigning Potential Buyers to Segment
5 Criteria to Select Target Segment
M
arket Size
E
xpected Growth
C
ompetitive Position
C
ost of Reaching Segment
C
ompatibility with the Organisations's Objective and Resources