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Segmentation (1)Market Segmentation (c)Requirements for Effective…
Segmentation
1)Market Segmentation
2.Develop a Profile of each segment
a)Segmenting Consumer Markets
Behavioural Variables
Benefits
User Status
User Rates
LoyaltyStatus
Occasions
Psychographic Variables
Social Class
Lifestyle
Personality
Demographic Variables
Age
Gender
Income
Geographic Variables
Density
Region
Country
1.Identify the Bases for Segmenting the market
c)Requirements for Effective Segmentation
Measurability
Accessability
Substantiality
Differentiability
Actionability
b)Segmenting Business Markets
Purchasing Approaches
Situational Factors
Operating Characteristics
Personal Characteristics
3)Market Positioning
5.Develop a position for each target segment
6.Modify the Marketing Mix
Differentiating a Product
Product
Services
Channels
Image
Criteria for Differentiation
Important
Distinctive
Superior
Communicable
Preemptive
Affordable
Profitable
Positioning Strategy
The Same For Less
Less For Much Less
More For the Same
More For Less
More For More
2)Market Targeting
3.Choose, develop measures of segment attractedness
4.Choose the segments that favour us
a)Evaluating Market Segments
Structural Attractiveness
Competitors
Substitute Products
Power of Buyers
Powerful Suppliers
The Company's Objectives and Resources
Size and Growth of the Market
b)Selecting Target Market Segments
Selective/Differentiated Marketing
Niche/Concentrated Marketing
Mass/Undifferentiated Marketing
Micro Marketing
Introduction:
Customer-Driven Marketing Strategy