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Segmentation & Targeting - Coggle Diagram
Segmentation & Targeting
Source
Claims
Demographic variables - age, gender, ethnicity, religion, education, income, occupation, social class, life stage, family size
Geographic variables, country, regio, county, city, population density
Psychographic variables - personality, lifestyle, motivations
Behavioural variables, usage, benefits, proce sensitivity, loyalty
3 types of segments are the segment types, current position, interventions.
They must be: Measurable - size, buting power and profiles
assessable - can be reached
substantial - large and profitable
differentiable - disguishable
actionable - can be targeted through tailored work
actionable - can be targeted through marketing campaigns
Targeting is a focus on a segment of customers
The four types of targeting strategies are: undifferentiated (same offer to whole market)
Differentiated (making different offers to seperate markets
Concentrated (focus on 1 or couple) niche market
Customised - 1-2-1
Positioning:Who is it for, the competitive set and subjective category, promise or cutomer benefit, reason to believe (evidence)
Description: Who will be targeted for the offering/product - who will the organisation offer the product/service to - how will it do this in comparison to other competitors
Process of dividing up customers to target them is called segmentation
A market is a group of people who are consumers
Weaknesses
Personality and lifestyle segmentations are harder to reach
Getting the target market correct
Ethical concerns can be raised from targeting -this has to be dealt with carefully
Dissatisfaction can occur by targeting certain groups - such as great deals for new customers.
Positioning requires clarity, consistency, credibility, competitivness
Strengths
Brand tribes and brand communities are important in this digital era, however, demographic and geographic variables are still important
Personality being increasingly used for personalised messages, although controversial
Questions & Queries