Market Segmentation

believers

As consumers, they are predictable; they choose familiar productsand established brands. They favor American products and are generally loyal customers.

Target Marketing

Choosing a a segment of the market and creating elements of the marketing mix to appeal to its members

Niche Marketing

Concentrated marketing targets a small share of a large market .

Behavioral Segmentation

Dividing the market based on frequency of using the product/brand, loyalty to the product/brand, and desired benefits from the product/brand.

Mass Marketing

Targets the whole market with one offer : does not focus on the differences in the marke

micromarketing

The practice of tailoring products and marketing programs to suit the tastes of specific individualsand locations. Examples are (Designer clothes, Rolex, Rolls Royce)

strivers

These consumers are active because shopping is both a social activity and an opportunity to demonstrate to peers their ability to buy. As consumers, they are as impulsive as their financial circumstance will allow.

survivors

These consumers are cautious ; they represent a very modest market for most products and services. They are loyal to favorite brands, especially if they can purchase them at a discount.

Innovators

These consumers are change leaders and are the most receptive to new ideas and technologies.

thinkers

These consumers are conservative, practical consumers; they look for durability, functionality, and value in the products they buy.

experiencers

These consumers are motivated by self-expression and spend a comparatively high proportion of their income on fashion, entertainment, and socializing

makers

These consumers are unimpressed by material possessions other than those with a practical or functional purpose. Becausethey prefer value to luxury, they buy basic products.

achievers

These consumers favor established, prestige products and services that demonstrate success to their peers

Segmented marketing

This marketing approach targets several different market segments and designs separate offers foreach.

psychographic segmentation

dividing the market using groups' values, attitudes, and interests

positioning

how consumers perceive a product relative to the competition

demographic segmentation

segmenting markets by age, gender, income, or ethnic background

geographic segmentation

the grouping of consumers on the basis of where they live

Segmentation

the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics