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C8: Market Segments and Targets (Levels Market segmentation (Major…
C8: Market Segments and Targets
Levels Market segmentation
Demographic
Geographic
Gender
Life stage
Income
Behavioral segments
Race and culture
Major segmentation variables
Demographic
Operating variables
Purchasing Approaches
Situational factors
Personal characteristics
Ex: Victoria Secret, Hurley (strong identification with Generation Y), HSBC (worlds local brand), BMW
Market targeting
Measurable
Substantial
Accesible
Differntiable
Actionable
Porter 5 forces
Threat of rivalry
Threat of new entrants
Threat of substitute products
Threat of buyers growing bargaining power
Threat of suppliers bargaining power
Marketers must choose target markets in a socially
responsible manner at all times
Many companies target multiple segments defined in various ways such as various demographic
groups who seek the same product benefit