Identifying Market Segments and Targets

Popo Hartoyo (18201025035)

Hafizh Akhiruddin (18201025041)

Yesy Nur Sanndah (18201025037)

Market Segmentation

Geographic Psychographic

Demoghraphic Behavioral

Geographic

location, race, condition

Psychographic

Social class, personalities, lifestyle

Demoghraphic

,

Age, life stage , gender, income

Behavioral

Segmentation Criteria

Differentiable

Actionable

Accessible

Substantial

Measureable

Market segmentation divides a market into well-defined slices.A market segment consists of a group of customers who share a similar set of needs and wants.The marketer’s task is to identify the appropriate number and nature of market segments and decide which one(s) to target.

The overall aim of segmentation is to identify high yield segments – that is, those segments that are likely to be the most profitable or that have growth potential – so that these can be selected for special attention

• Measureable about size, purchasing power, profiles of segments can be measured

• Substantial, segments are large or profitable enough to serve

• Accessible, segments can be effectively reached and served

• Actionable, effective programs can be designed to attract and serve the segments

• Differentiable, segments must respond differently to different marketing mix elements and programs

Threats are follow

Threat of intense segment rivalry

Threat of new entrants

Threat of substitute products

Threat of buyers growing bargaining power

Threat of suppliers growing bargaining power

Evaluating and Selecting The Market Segments

SingleSegment

Concentration

Individual Marketing

Legal and Ethical Issues With Market

Targets

Multiple Segment

Specialization

Full Market Coverage

Market segment evaluation and selection is one of the important problems for every company. The major part of the related literature concentrates on the important features for doing this evaluation and very little research has been done on the evaluation of segment attractiveness and market segment selection.

Evaluating and Selecting The Market Segments

Single Segment Concentration

Individual Marketing

Legal and Ethical Issues With Market

Targets

Multiple Segment

Specialization

Full Market Coverage

Evaluating and Selecting The Market Segments

SingleSegment

Concentration

Individual Marketing

Legal and Ethical Issues With Market

Targets

Multiple Segment

Specialization

Full Market Coverage

Evaluating and Selecting The Market Segments

• Full Market Coverage , a firm attempts to serve all customer groups with all the products they might need

• Multiple Segment Specialization, a firm selects a subset of all the possible segments, each objectively attractive and appropriate

• Single-Segment Concentration , the firm markets to only particular segment

• Individual Marketing , “segments of one”, “customized marketing”, or “one to one marketing”.

• Legal and Ethical Issues With Market Targets, Marketers must target carefully to avoid consumer backlash.

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