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CUSTOMER DRIVEN MARKETING STRATEGY

MEHNAAZ SAMANTHA KAMAL


NORTH SOUTH UNIVERSITY
JUNE, 2016

OBJECTIVES
-

Customer driven marketing strategy


Market segmentation
Market targeting
Differentiation and positioning

MARKET SEGMENTATION
Segmentation:
Process that companies use to divide large heterogamous
markets into smaller markets, what can be reached more
efficiently and effectively with products and services that
match their unique needs.

MARKET SEGMENTATION

MARKET SEGMENTATION
Geographic Segmentation
Divides the market into different geographical units such as
nations, regions, states, counties or cities.

Demographic Segmentation
Divides the market into groups based on variables such as age, gender,
family size, family life cycle, income, occupation, education, religion, race,
generation and nationality

MARKET SEGMENTATION
Psychographic segmentation:
Divides the buyers intro different groups based on social class,
lifestyle or personality traits

Behavioral Segmentation:
Divides buyers into groups based on their knowledge, attitudes, uses or
responses to a product.

Factors to consider:
Occasions
Benefits sough
User status
User rate
Loyalty status

Using Multiple Segmentation Bases:


Multiple Segmentation:
Used to identify smaller, better-defined target groups. Example:
Geodemographic segmentation
Intra market segmentation:
Dividing the consumers into groups with similar needs and buying
behaviors even though they are located in different countries.

MARKET SEGMENTATION

TARGETING
Evaluate market segments
Segment size and growth
Segment structural attractiveness
Company objectives and resources

After evaluating various segments, company must decide which and


how many segments it will target.
Target market: consists of a set of buyers who share common needs or
characteristics that the company decides to serve.
Companies can target in different ways:
1. Very broadly (undifferentiated marketing)
2. Very narrowly (micromarketing)
3. Somewhere in between (differentiated or concentrated marketing)

TARGETING
Target Marketing Strategies
Undifferentiated marketing:

Targets the whole market with one offer:


Mass marketing
Focuses on common needs rather than whats different

TARGETING
Differentiated marketing

Targets several different market segments and designs separate


offer for each.
Goal: to achieve higher sales and stronger position
More expensive than undifferentiated marketing

TARGETING
Micromarketing:
The practice of tailoring products and marketing programs to
suit the tastes of specific individuals and locations

Local marketing
Individual marketing

TARGETING
Local marketing
Involves tailoring brands and promotion to the needs and wants of local
customer groups

Cities
Neighborhoods
stores

TARGETING
Individual marketing:
Involves tailoring products and marketing programs to the needs and
preferences of individual customers.

Also known as:


One-to-one marketing
Mass customization
Markets-of-one marketing

TARGETING

TARGETING

POSITIONING

POSITIONING

POSITIONING

POSITIONING

POSITIONING

POSITIONING

POSITIONING

Segmentation

Targeting

Positioning

Demographic: Age

Kids, Youth

Easy to cook, good to


eat

Psychographic:
Lifestyle

Office goers, working


women, students

2 minute noodles

Behavioral: Eating
habits of urban
families

Health conscious
people

(Gulati, 2013)

REFERENCES

Pearson 2010 resources

READING LIST:

Chapter 7, Customer Driven Marketing Strategy: Creating


Value for Target Customers. Book: Principles of marketing
( 15th edition)