Customer-Driven Marketing Strategy (MARKET SEGMENTATION (REQUIREMENTS…
Differentiation & Positioning
Dividing a market into different geographical units, such as nations, states, regions, counties, cities or even neighborhood.
dividing the market into segments based on variables such as age, life cycle style, gender, income, occupation, education, realign, ethnicity and generations.
Dividing a market into different segments based on social class, lifestyle, or personality characteristics.
Dividing a market into segments based
on consumer knowledge, attitudes, uses,
or responses to a product
REQUIREMENTS FOR EFFECTIVE SEGMENTATION
: The size, purchasing power, and profiles of the segments can be measured.
: The market segments can be effectively reached and served
: The market segments are large or profitable enough to serve. A segment
should be the largest possible homogeneous group worth pursuing with a tailored
: The segments are conceptually distinguishable and respond differently
to different marketing mix elements and programs
: Effective programs can be designed for attracting and serving the segments
Major steps in designing a customer - driven marketing strategy
Market targeting (targeting)