marketing managment kotler mm14 ch07_dppt
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Kotler • KellerPhillip Kevin Lane
Marketing Management • 14e
Identifying Market Segments and Targets
Chapter 7
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Discussion Questions
1. What are the different levels of market segmentation?
2. In what ways can a company divide a market into segments?
3. What are the requirements for effective segmentation?
4. How should business markets be segmented?
5. How should a company choose the most attractive target markets?
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Target Marketing Requirements
1. Identify and profile distinct groups of buyers (market segmentation).
2. Select one or more market segments to enter (market targeting).
3. For each, establish and communicate benefits of offering (market positioning).
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Bases for Segmenting Consumers
Geographic
Demographic
Psychographic Behavioral
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Geographic Segmentation
Geoclustering
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Demographic Segmentation
Age and Life-cycle StageLife StageGenderIncomeGenerationRace and Culture
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Age and Life-Cycle Stage
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Life Stage
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GenderWomen:
Influence 80% of consumer purchasesMake 75% of new home decisionsPurchase 60% of cars
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Income
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Generation
Gen X (1964-1978)Baby Boomers (1946-1964)Silent Generation (1925-1945)
Millennials (Gen Y) – (1979-1994)-78 Million people-$187 annual spending power
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Cohort Size Defining Features
Millennials (1979-1994)
78 mRaised in affluence, tech savvy, perceived immunity from marketing
Gen X (1964-1978)
50 mParents relied on day care, accepts diversity, pragmatic and individualistic
Baby Boomers(1946-1964)
76 mControl 3/4th of the wealth in the U.S, seek fountain of youth (hair color, hair replacement), home exercise equipment
Silent Generation(1925-1945)
42 mLead vibrant lives, spend money and time on grandchildren.
U.S. Generation Cohorts
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Race and Culture
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Multicultural Market Profile
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Psychographic Segmentation
• Personality traits
• Lifestyle• Values
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Figure
7.1VALS Segmentation
System
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Behavioral Segmentation
User and Usage
Needs and Benefits
Decision Roles
Usage occasions
User status
Usage rate
Buyer-readiness
Loyalty status
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Figure
7.2Brand Funnel
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Consumer Attitudes
Enthusiastic Positive Indifferent Negative Hostile
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Figure
7.3Behavioral Segmentation
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Bases for Segmenting B2B Markets
Demographic
Operating Variables
Purchasing Approach
Situational Factors
Personal Characteristics
Industry, company size, location
Technology, user status, customer capabilities
Power structure, nature of existing relationship
Urgency, specific application, size of order
Buyer-seller similarity, loyalty, risk attitude
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Market Targeting
Effective Segmentation CriteriaMeasurableSubstantialAccessibleDifferentiableActionable
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Market Targeting
Porter’s Five Force
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Evaluating and Selecting Segments
Individual marketing
Full market coverage
Multiple segment specialization
Single-segment concentration
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Figure
7.4Levels of Segmentation
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