This is not the document you are looking for? Use the search form below to find more!

Report home > World & Business

Strategic Marketing

5.00 (1 votes)
Document Description
Target marketing requires identify and profile distinct groups of buyers with distinct needs/preferences, select one or more market segments, establish and communicate distinctive benefits of the market offering to each target segment.
File Details
  • Added: April, 26th 2009
  • Reads: 1865
  • Downloads: 104
  • File size: 18.05kb
  • Pages: 4
  • Tags: market segmentation, bases for segmenting consumer markets, market targeting strategies, etc
  • content preview
Submitter
  • Username: rika
  • Name: rika
  • Documents: 1301
Embed Code:

Add New Comment




Showing 1 comment

by sai kiran on October 06th, 2010 at 02:27 pm
simple super... but if u explain with examples..
Related Documents

Most Complete Testbank for Cravens - Strategic Marketing - 9e, ISBN 0073381004 DOWNLOAD NOW

by: dishdash2010, 173 pages

Most Complete Testbank for Cravens - Strategic Marketing - 9e, ISBN 0073381004 DOWNLOAD NOW

Geothermal Energy Association Strategic Marketing Plan

by: heidi, 28 pages

Originally presented to:The Geothermal Energy Association, Wash., D.C.Strategic Marketing Plan for the Geothermal IndustryPart 1: Creative Exploration, Wall St. focusJanuary 24, ...

Strategic Marketing Plan Destination Holland 2008 – 2010

by: samanta, 5 pages

The Netherlands Bureau of Tourism & Conventions (NBTC) is the leading marketing organisation for the promotion of leisure and business travel to and within Holland. NBTC’s challenge is to ...

Which are Key Elements to Hospital Strategic Marketing Planning?

by: rlhealthcareadvisors, 2 pages

For abounding physicians, business is artlessly a bulk of putting an advertisement in the belted newspaper, beautification the cat-and-mouse allowance or administering a complete charge to bodies in ...

Developing a Strategic Marketing Plan for Horticultural Firms

by: edmee, 28 pages

A marketing plan is essential for every horticultural business and for efficient and effective marketing of any horticultural product or service. A marketing plan serves as a road map. It establishes ...

Strategic Marketing Plan.Fiji Water

by: regina, 23 pages

Elizabeth Kulin Strategic Marketing & Planning, 2009 Fiji Water Executive Summary: ...

CHALLENGES OF STRATEGIC MARKETING OFTOURIST DESTINATION UNDER THE CRISIS CONDITIONS

by: monkey, 9 pages

Global competitiveness and tourism concentration create numerous challenges andproblems in the creation of consumer loyalty and sustainable competitive advantage in thetourism product market. The ...

Strategic Marketing Problems: Cases and Comments (11th Edition) by Robert Peterson

by: mersada, 2 pages

Strategic Marketing Problems: Cases and Comments (11th Edition) by Robert Peterson Used Textbook Purchase. This best-selling book is dedicated ...

Strategic marketing by mooradian, todd, a., matzler, kurt and ring, lawrence solution manual and testbank

by: jamiesmtb, 14 pages

Strategic marketing by mooradian, todd, a., matzler, kurt and ring, lawrence solution manual and testbank I have the following solutions manuals & test banks. You can contact me at ...

The Importance Of A Strategic Marketing Plan

by: thomas314worley, 2 pages

Such strategic decisions taken on the spur of the moment are driven by contingency and seldom turn

Content Preview
Strategic Marketing
Fall 2005
Tinker AFB Campus
Chapter Nine
Market Segmentation
Market Segmentation
Target marketing requires the following:
– identify and profile distinct groups of buyers with
distinct needs/preferences,
– select one or more market segments,
– establish and communicate distinctive benefits of
the market offering to each target segment.
Using Market Segmentation -
Buyers differ in many ways.
• Mass Marketing - One product/marketing mix
available for all buyers.
• Micro Marketing - The response to the decline
in favor for mass marketing.
• Segment marketing - A large identifiable
group within a market. Midpoint between mass
and individual marketing.
1

Using Market Segmentation - Buyers
differ in many ways (cont.)
• Niche Marketing - A narrowly defined smaller group
whose needs not currently met effectively.
• Local Marketing - Programs targeted to the needs and
wants of local customer groups.
• Individual Marketing - "One-to-One" Marketing
– Mass-customization and choice board
– Customerization - Empowering customers with the means
to design their own products.
Using Market Segmentation - Buyers
differ in many ways (cont.)
• Patterns of Market Segmentation - homogenous,
diffused, and clustered preferences
• Market Segmentation Process - survey, analysis, and
profile
– Focus on needs-based market segmentation and market
partitioning.
• Effective Segmentation - Segments must be
measurable, substantial, accessible, differentiable,
and actionable.
Segmenting Consumer Markets
• Bases for Segmenting Consumer Markets:
– Geographic - nations, states, regions, counties,
cities, and neighborhoods
– Demographic - age and life cycle, gender, income,
generation, and social class.
– Psychographic - lifestyle, personality, and values
– Behavioral - purchase occasions, benefits, user
status, usage rate, loyalty status, buyer-readiness
stage, and attitude
2

Segmenting Consumer and Business
Markets (cont.)
• Bases for Segmenting Consumer Markets:
(cont.)
– Multiattribute Segmentation (geoclustering): Assumes
people who live near each other and exhibit similar traits
from all of the above segmentation bases.
– Targeting Multiple Segments - Because consumers no
longer can be neatly pigeonholed into one segment.
– Geoclustering via PRIZM clusters (American dreams, rural
industria, gray power, country squires) - Focus on
increasing diversity.
Segmenting Business Markets
• Bases for Segmenting Business Markets
• Based on their stage in the purchase decision
process and channel preferences.
• Types of buyers: programmed, relationship,
transaction, and bargain hunters
• Business buyer groups: price-oriented
(transactional selling), solution oriented
(consultative selling), and strategic value
(enterprise selling)
Market Targeting Strategies
• Evaluating and selecting the market segments.
– Factors: Segment size and growth, segment structural
attractiveness, company objectives, and resources.
– Single-Segment Concentration - Firm concentrates on
one market only for its one product.
– Selective Specialization - Firm selects a number of
attractive and appropriate segments and develops
products that appeal to each segment.
– Product Specialization - Firm focus is on a product it
can sell to several segments.
3

Market Targeting Strategies (cont.)
– Market Specialization - Firm satisfies multi-
faceted needs of one particular group.
– Full Market Coverage - Firm serves all customer
groups with products they might need.
• Undifferentiated Marketing - Entire market receives the
same program.
• Differentiated Marketing - Different programs for
different segments.
• Targeting Multiple Segments and Super
segments - use of mega marketing
Ethical Choice of Market Targets
Targeting sometimes generates controversy
4

Download
Strategic Marketing

 

 

Your download will begin in a moment.
If it doesn't, click here to try again.

Share Strategic Marketing to:

Insert your wordpress URL:

example:

http://myblog.wordpress.com/
or
http://myblog.com/

Share Strategic Marketing as:

From:

To:

Share Strategic Marketing.

Enter two words as shown below. If you cannot read the words, click the refresh icon.

loading

Share Strategic Marketing as:

Copy html code above and paste to your web page.

loading