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MARKETING MANAGEMENT

13th edition

8
Identifying Market
Segments, Market Targeting
& Market Positioning

Chapter Questions

What are the different levels of market


segmentation?
How can a company divide a market into
segments?
How should a company choose the most attractive
target markets?
What are the requirements for effective
segmentation?
What are the effective tools for positioning a
company in the market?
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Steps in Market Segmentation,


Targeting, and Positioning

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Steps in Market Segmentation,


Targeting, and Positioning
- Dividing a whole market into different smaller
groups of buyers with distinct needs,
characteristics or behaviours who might
require separate products or marketing mixes.
- The company identifies different ways to
segment the market and develop profiles of
the resulting market segments.

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Steps in Market Segmentation,


Targeting, and Positioning
- Evaluating each market segments
attractiveness and selecting one or
more of the market segments to
enter.

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Steps in Market Segmentation,


Targeting, and Positioning
- Setting the competitive positioning for the product and
creating a detailed marketing mix.
- Use of 4ps in a way that create better value for the
customers and create an unique identity for the company.

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Levels of Market Segmentation


The
starting
point
for
discussing
segmentation is Mass Marketing (Opposite
concept of segmentation).

In Mass Marketing, the seller


engages in the mass production,
standard price, mass distribution
and mass promotion for one
product for all the buyers.

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Levels of Market Segmentation


The levels of market
segmentations are

1. Segment Marketing
2. Niche Marketing
3. Local Marketing &
4. Individual Marketing

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Levels of Market Segmentations


Segment Marketing
Targeting a group of customer from different
available groups who share a similar set of
needs and wants as opposed MASS
MARKETING.
MARKETING

The company can often better


design, price, disclose and
deliver the product or service to
the selected group and also can
fine tune the marketing program
and activities to better reflect
competitors marketing.
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Levels of Market Segmentations


Market segments can be built in
many ways. one way is to identify
preference segments.
Three different patterns can emerge.
Homogeneous

preferences:
Diffused preferences
Clustered preferences
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Levels of Market Segmentations


Homogeneou
s Preferences

Consumers have roughly the same


preference. The market shows no
natural segments.
Consumer
preferences may be
scattered, indicating that consumers
vary greatly in their preferences.
Result when natural market (distinct
preference clusters) segments emerge
from groups of consumers with shared
preference.
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Levels of Market Segmentations


Niche Marketing:
A niche is a more narrowly defined specific
group seeking a distinctive mix of benefits.
Marketers usually identify niches by
dividing a segment into sub-segments.
To attract the customers; marketers
can go for either differentiation or cost
leadership.
E.g., Hallmark- Cards with special message,
Nike- Sports wear, Nokia phones- Bengali
Versions for less educated people.
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Levels of Market Segmentations


Niche Marketing

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Levels of Market Segmentations


Local Marketing:

Marketing programs tailored to the


needs and wants of local customer
groups.
E.g., Local Newspapers, Global banks local
operations, Movies dubbed in local
languages.

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Levels of Market Segmentations


Individual Marketing

(Customerization):

The ultimate level of segmentation.


Segments
of one, customized
marketing, one-to-one marketing
etc. E.g., Special cars, Tailors, Beauty
saloon, Interior design, Event management
firms.

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Levels of Market Segmentations


Individual
Marketing

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