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Chapter 4 : Segmenting and Targeting Markets - Coggle Diagram
Chapter 4 : Segmenting and Targeting Markets
market is people or organizations with needs or wants, and with the ability and willingness to buy
market segmentation
market segment
matket
market segmentation
the importance of market segmentation
define customer needs
variety of product needs and preferences
criteria for segmentation
substantiality
accessibility
responsiveness
segmentation bases
charachteristic of individuals, groups, or organizations used to divide a total market into segments. (variables)
geography
demographics
usage rate
geographic segmentation
market size
climate
demographic segmentation
age
gender
psychographic segmentation
benefit segmentation
usage-rate segmentation
80/20 principle
bases for segmenting
business markets
producers
resellers
government
institutions
company charachteristic
buying process
buyer charachteristics
satisficers
optimizers
target market
undifferentiated
multisegment
concentrated
undifferentiated targeting strategy
advantage:
potential saving on priduction and marketing costs
disadvantages:
unimaginative product offerings
concentrated targeting strategys
advantages:
concentration of resources
disadvantages:
segments too small , or changing
multisegment targeting strategy
advantages:
economies of sales
disadvantages:
high costs
one-to-one marketing
individualized ,information-intensive,
long-term, personalized
positioning
effective positioning
asses the positions occupied
by competing products
product differentiation
attribute
price and quality
emotion
product user
repositioning
