marketing

Age and life-cycle segmentation

Offering different products using different marketing approaches for different age and life-cycle groups.

Market segmentation, and Market targeting

The first two steps in designing a customer value-driven marketing strategy?

Differentiation and positioning

The last two steps in designing a customer value-driven marketing strategy?

Income segmentation

The marketers of products and services such as automobiles, clothing, cosmetics, financial services, and travel.

Show no loyalty to any brand

They either want something different each time they buy, or they buy whatever's on sale.

Market Segmentation, Market targeting (or tarketing), differentiation, and positioning

What are the four major steps in designing a customer value-driven marketing strategy?

Occasion segmentation

What can help firms build up product usage?

That nations close to one another will have many common traits and behaviors.

What does Geographic segmentation assume?

Benefit Segmentation

What requires finding the major benefits people look for in a product class, the kinds of people who look for each benefit, and the major brands that deliver each benefit.

MacHeads or Macolytes

Who can't wait to tell anyone within earshot of their latest Apple gadget.

Consumer needs, wants, and usage rates often vary closely with demographic variables. Another is that demographic variables are easier to measure than most other types of variables.

Why is demographic the most popular bases for segmenting customer groups?

Differentiation

actually differentiating the market offerings to create superior customer value.

Positioning

arranging for a market offerings to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Geographic segmentation

calls for dividing the market into different geographical units, such as nations, regions, states, counties, cities,neighborhoods, population density (urban, suburban, rural, climate.

psychographic segmentation

divides buyers into different segments based on social class, lifestyle, or personality characteristics.

Behavioral Segmentation

divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product

Market Segmentation

dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes.

Occasion Segmentation

dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Benefit segmentation

dividing the market into segments according to the different benefits that consumers seek from the product

Market Targeting

evaluating each market segments attractiveness and selecting one or more segments to serve.

Behavioral

occasions, benefits, user status, usage rate, loyalty status

Psychographic

social class, lifestyle, personality

Somewhat loyal

they are loyal to two or three brands of a given product or favor one brand while sometimes buying others.

Loyalty Status

A market can also be segmented by consumer loyalty.

Demographic

Age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, generation

It can help companies identify and better understand key customer segments, reach them more efficiently, and tailor market offerings and messages to their specific needs.

Benefits to using multiple segmentation bases

affluent customers

Customers based on their income status.

Economic Factors

Grouped by population income levels or by their overall level of economic

Geographic location

Grouping countries by regions such as Western Europe, the Pacific Rim, South Asia, or Africa

Gender segmentation

Has long been used in marketing clothing, cosmetics, toiletries, toys, and magazines.

geographically, demographically (industry, company size), or by benefits sought user status, usage rate, and loyalty status. Yet business marketer also use some additional variables, such as customer operating characteristics, purchasing approaches, situational factors, and personal characteristics.

How can business buyers be segmented?

behavior

Many marketers believe that what variables are the best starting point for building market segments?

brand tribes

Marketer sometimes refer to brand-focused psychographic segments as

Personlity

Marketers use what variables to segment markets?

Usage Rate

Markets can also be segmented into light, medium, and heavy product users.

User Status

Markets can be segmented into nonusers, ex-users, potential users, first-time users, and regular users of a product.