segmentation and targeting dr. ananda hussein. ford ’ s model t followed a mass market approach
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Segmentation and TargetingDr. Ananda Hussein
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Ford’s Model T Followed a Mass Market Approach
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Four levels of Micromarketing
Segments
Local areas Individuals
Niches
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What is a Market Segment?
A market segment consists of a group of customers who share a similar set of needs
ad wants.
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Preference Segments
Homogeneous preferences exist when consumers want the same things
Diffused preferences exist when consumers want very different things
Clustered preferences reveal natural segments from groups with shared preferences
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Niche Marketers
Enterprise Rent-A-Cartargets the insurance-replacement market
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What is Customerization?Customerization combines
operationally driven mass customization with customized
marketing in a way that empowers consumers to design the product and
service offering of their choice.
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Segmenting Consumer Markets
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Geographic
Demographic
Psychographic
Behavioral
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Demographic Segmentation
Age and Life Cycle
Life Stage
Gender
Income
Generation
Social Class
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Toyota Scion Targets Gen Y Consumers
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Dove Targets Women
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The VALS Segmentation System
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Behavioral Segmentation
Decision Roles
Initiator
Influencer
Decider
Buyer
User
Behavioral Variables
Occasions
Benefits
User Status
Usage Rate
Buyer-Readiness
Loyalty Status
Attitude
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Loyalty Status
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Switchers
Shifting loyals
Split loyals
Hard-core
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Behavioral Segmentation Breakdown
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Segmenting for Business Markets
Demographic
Operating Variable
Purchasing Approaches
Situational Factors
PersonalCharacteristics
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Steps in Segmentation Process
Needs-based segmentation
Segment identification
Segment attractiveness
Segment profitability
Segment positioning
Segment acid test
Marketing-MixStrategy
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Effective Segmentation Criteria
Measurable
Substantial
Accessible
Differentiable
Actionable
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Patterns of Target Market Selection
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Figure 8.4 Patterns of Target Market Selection
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Patterns of Target Market Selection
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Figure 8.5 Segment-by-Segment Invasion Plan
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Pepsi used Megamarketing in India
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Marketing Debate
Is mass marketing dead?
Take a position:1. Mass marketing is dead.
or
2. Mass marketing is still a viable way to build a profitable brand.