Market segmentation strategy is an adaptive strategy It consists of the operation of the market with the purpose of selecting one or more market segments which
Demographic segmentation Page 2 This segmentation dividing the larger Markets into smaller groupings on the basis of the demographic variables such as income,
1 Why market segmentation is essential 2 The criteria for targeting selected segments effectively 3 The bases for segmenting consumers
The target marketing process provides the basis for the selection of target market – a chosen segment of the market that an organisation wishes to serve
STEPS IN DESIGNING A CUSTOMER –DRIVEN MARKETING STRATEGY • Marketers cannot be “all things to all people” • Fig 11 poses two profound questions: 1
but pervasive shift in the bases for segmentation Historically, marketers segment the market 1 Use of segmentation in marketing and business strategy
Market segmentation is a crucial marketing strategy Its aim is to identify and 1) Geographic bases in which markets are divided into geographic units
Ques 1 Define Market Segmentation Ans 1 Market segmentation is the The bases for segmentation of consumer markets may be divided into two broad
of each mkt segment Select one or more target segments Develop detailed product positioning for each target segment Develop a marketing
(1) considering the alternative bases for segmentation; segmenting broad markets into more homogeneous submarkets; (2) choosing specific segments or a
BASES OF MARKET SEGMENTATION : 1 BASES FOR SEGMENTATION IN CONSUMER MARKETS : 1 GEOGRAPHIC SEGMENTATION: Geographic segmentation refers to dividing a
d segmentation base e population sample ANS: B This is the definition of a market segment PTS: 1
7-1 Customer-Driven Marketing Strategy: Creating Value for Target Customers discuss the major bases for segmenting consumer and business markets (S)
Describe the issues involved in product and brand positioning Understand the alternative bases for segmenting consumer and business-to-business markets
Define product level Specify segment characteristics or bases Identify geographic market boundaries 1-17 Estimating
Why segment? Most efficient Most effective One Mass Market Many Groups of One Bases for Segmenting Consumer Markets Bases for Segmentation
1 Performance of outcomes of this unit standard will require adherence to 2 1 Segmentation bases for markets are identified and profiled according to