Lecture fundamentals of marketing - Lecture 11: Customer-driven marketing strategy
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LECTURE11
Customer-Driven Marketing
Strategy
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11- 11
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Topic Outline
Market Segmentation
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Market Segmentation
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Market Segmentation
Market segmentation: Dividing a market
into smaller segments with distinct needs,
characteristics, or behavior that might
require separate marketing strategies or
mixes.
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Market Segmentation
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Segmenting consumer markets
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Segmenting business markets
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Segmenting international markets
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Requirements for effective segmentation
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Market Segmentation
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Segmenting Consumer Markets
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Market Segmentation
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Segmenting Consumer Markets
Geographic segmentation divides the
market into different geographical units
such as nations, regions, states,
counties, or cities
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Market Segmentation
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Segmenting Consumer Markets
Demographic segmentation divides the
market into groups based on variables
such as age, gender, family size, family life
cycle, income, occupation, education,
religion, race, generation, and nationality
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Market Segmentation
Age and life-cycle stage segmentation is
the process of offering different products or
using different marketing approaches for
different age and life-cycle groups
Gender segmentation divides the market
based on gender (male or female)
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Market Segmentation
•
Segmenting Consumer Markets
Income segmentation
divides the market into
affluent, middle-income or
low-income consumers
Psychographic
segmentation divides
buyers into different groups
based on social class,
lifestyle, or personality traits
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Demographic Segmentation
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Age and Life-Cycle Stage
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Gender
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Income
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Generation
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Social Class
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Occupation
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Market Segmentation
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Segmenting Consumer Markets
Behavioral segmentation
divides buyers into groups
based on their knowledge,
attitudes, uses, or responses
to a product
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Occasions
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Benefits sought
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User status
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Usage rate
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Copyright Loyalty
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Market
Segmentation
. Using Multiple Segmentation
Bases
Multiple segmentation is used to identify
smaller, better-defined target groups
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Market Segmentation
•
Segmenting International markets
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Market Segmentation
•
Segmenting International Markets
Intermarket segmentation divides
consumers into groups with similar needs
and buying behaviors even though they
are located in different countries
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Market Segmentation
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Requirements for Effective Segmentation
To be useful, market segments must be:
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Bibliography
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Principles of Marketing by Philip Kotler & Gary Armstrong
Fifteenth Edition, Published by Prentice Hall
Marketing Management – A South Asian Perspective
by Philip Kotler, Kevin Lane Keller, Abraham Koshy &
Mithileshwar Jha, 13th Edition, Published by Pearson
Education, Inc.
Principles and Practices of Marketing by Jobber, D. 4th
edition, McGraw Hill International.
Principles of Advertising & IMC by Tom Duncan 2nd
Edition, Published by McGraw-Hill Irwin.
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The End
"Success doesn't come to you,
you go to it."
Marva Collins
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