Dividing a market
into smaller
segments of buyers
with distinct needs,
characteristics, or
behaviours that
might require
separate marketing
strategies or mixes
Through market segmentation,
companies divide large,
heterogeneous markets into
smaller segments that can be
reached more efficiently and
effectively with product and
services that marhc their unique
needs.
SEGMENTING CONSUMER
MARKETS
SEGMENTING BUSINESS
MARKETS
Consumer & business
marketers use many of the
same variables to segment
their markets.
SEGMENTING
INTERNATIONAL
MARKETS
They can segment by
geographic location,
economic factors,
SEGMENTING FOR
EFFECTIVE
SEGMENTATION
1.- Measurable: the size,
purchasing power, and profiles of
the segments can be measured
2.- Accessible: The market
segments can be effectively
reached and served
3. Susbtantial: The market segments
are large or profitable enough to
serve.
4.- Differentiable: The segments
are conceptually distinguisable
and respond diferently to
different marketing mix elements
and programs.
Market Targeitng
Target market: A set of buyers
sharing common needs or
characteristics that they
company decides to serve
Micromarketing: Tailoring products and marketing programs to
the needs, and wants of specific individuals and local customer
segments; it includes local marketing and individual marketing