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MASS PRODUCTION PRODUCT DIFFERENTIATION MARKET SEGMENTATION
Definition
Market segmentation is the subdividing of a market into distinct subsets of customers, where any subset may conceivably be selected as a target market to be reached with a distinct marketing mix
Segmentation bases
Geodemographic descriptors Behaviourist Psychographics
Low A D G J
Medium B E H K
High C F I L
Age
Marital status Occupation
Education
Variable
Potential categorisation
Customer size
Religion
Youth subcultures Family life-cycle
Variable
Potential categorisation
Region/country Climate
e.g. north east, south west; UK, France, etc. Hours of sunshine, rainfall, temperature
Potential categorisation
Brand loyal, switchers to non-committed From comparison shopping to convenience outlets only Heavy users, medium users, light users, occasional users, non-users High spenders to low spenders in deciles Working clothes, leisurewear, evening wear, formal wear Very price aware and conscious to least price sensitive Easy care garments, environmentally friendly fabrics, and/or durability, etc.
Usage rates
Price sensitivity
Benefits
Psychographic segmentation
Divides the market up by the way people think and the things that motivate them Asks questions of people about:
How individuals spend their time on activities Their major interests Their opinions about themselves and the world in general
Leads to lifestyles
162 147 95 82
188 166 76 81
228 153 74 70
189 165 86 89
51% 43 32 44
60% 56 52 64
Consciencestricken
Dowdies
68
37
59
19
53
17
40
22
82
52
24
20
59
62
Segmentation strategies
A multi-segment strategy
Segment Menswear: Burton Top Man Principles for men Womenswear: Dororthy Perkins Top Shop Principles Evans collection Department stores: Debenhams Harvey Nichols Sport & Leisure: Champion sport No. of outlets Target customer
Men aged 20-45, mainstream fashion Men aged 15-25, young fashion Men aged 20-45, updated classics
Women, 18-40, mainstream fashion Women, 15-25, young fashion Women, 25-45, sophisticated fashion Women, 25-60, size 14+
79
3
Mainstream fashion for individual and home Exclusive and avant-garde for individual and home
Sports clothing, footwear for men and women <35, and children
112
Target Marketing
Market Information
Market Segmentation
Market Targeting
Shoes
The Marketing Mix is the tool kit that marketers use to do their job
It is the appropriate combination of the four key elements the Four Ps that are at the heart of a companys marketing programme. The Four Ps are made up of:PRODUCT PRICE PLACE PROMOTION
Price
List price Discounts Credit terms Payment methods
Place
Channels Locations Distribution method Coverage
Promotion
Advertising Personal selling Sales promotion Publicity