MarketSegmentationandTargetingMarketSegmentationMarketscanbehugeanddiverseentitiesmadeupofindividuals.Sinceindividualwantsandneedstendtodiffer,tryingtomassmarkettoawholemarketoftenisinefficient.Costingtoomuchtimeandmoney,andhurtingprofitpotential.Therefore,acompanyshouldfocusortargetspecificgroupsorsegmentsofindividualstoenhanceprofitopportunities.MarketSegmentationSomewillarguethatmassmarketingisbetter,becauseloweroverallproductioncostsareachieved.Lowerexpensesthenleadstohigherprofits.However,unlessalmosteveryoneisbuyingyourproduct/service,thelowerexpenseswillnotnecessarymeanhigherprofits.MarketSegmentationAsamarketer,definingandidentifyinggroupsofindividualswhowillpayforyourproductorserviceisanimportanttask.Thinkofthistaskastryingtotakeadvantageofthecostsavingsofmassmarketing,butonasmallerscale.Or,conductingmassmarketingtogroupsinsteadofthemarketasawhole.MarketSegmentationDefinition:Amarketsegmentsaregroupsofhigh-potentialprospectivecustomerswithcommoncharacteristicsandneedsthatdistinguishthemfromotherhigh-potentialmarketsegments.MarketSegmentationTypesofSegmentation:Segment(general):focusesoncustomerswhoshareasimilarsetofwants.Niche:focusesoncustomerswhoseekadistinctsetofbenefits(oftencalledsub-segmentation).Local:focusesonthewantsofcustomersinaspecificlocation.Customerization:focusesoncustomizingtheproductorservicetofitthecustomer’sspecificwants(theultimateinsegmentation).MarketSegmentationBasesforSegmentingCustomerMarkets:GeographicDemographicPsychographicBehavioralMarketSegmentationGeographicSegmentation:Thisbasisforsegmentationcallsfordividingthemarketintodifferentgeographicunits(vinces,counties,cities,towns,neighborhoods,etc.).MarketSegmentationDemographicSegmentation:Thisbasisofsegmentationcallsfordividingthemarketsintogroupsbasedonageand/orothervariables.Demographicsegmentationispopular,becausethevariablesareeasiertomeasre.MarketSegmentationSomeofthevariablesconsideredinDemographicSegmentation:Ageandlife-cyclestageLifestageGenderIncomeSocialclassGenerationEthnicityMarketSegmentationPsychographicSegmentation:Thisbasisofsegmentationgroupspotentialcustomersaccordingtopsychological/personalitytraits,lifestyles,orvalues.MarketSegmentationBehavioralSegmentation:Thisbasisofsegmentationdividescustomersintogroupsaccordingtotheirknowledgeof,attitudetoward,useof,orresponsetoaproductorservice.MarketSegmentationVariablesconsideredinBehavioralSegmentation:Occasions(need/use)BenefitsUserStatusUsageRateBuyer-readinessstageLoyaltystatusAttitudeMarketSegmentationIntheend,therearemanydifferentwaystosegmentamarket.Howyousegmentthemarketisyourdecision!Alwayskeepyourproductorserviceinmindwhenyousegment,orelseyoursegmentationactivitieswillbeawasteoftimeandmoney.MarketTargetingAfteryouhaveidentifiedthepossiblemarketsegmentsandopportunities,whichsegmentsandhowmanysegmentstotargetorfocusonisyournextstep.MarketTargetingEffectiveSegmentationCriteria:Tobeusefulinyourmarketingefforts,marketsegmentsmustratefavorablyonfivekeycriteria.Thesegmentsmustbe:MeasurableSubstantialAccessibleDifferentiableActionableMarketTargetingWhenevaluatingdifferentmarketsegments,twofactorsmustbeconsidered:Thesegment’soverallattractivenessThecompany’sobjectivesandresourcesMarketTargetingTypesofTargetingDecisions:Single-segmentconcentrationSelectivespecializationProductspecializationMarketspecializationFullmarketcoverageMarketTargetingSingle-segmentconcentrationtargeting:Thischoiceinvolvesconcentratedmarketing.Thecompanygainsathoroughunderstandingofthechosensegment’sneedsandachievesastrongmarketpresence(i.e.mostluxurygoods).MarketTargetingSelectivespecializationtargeting:Anumberofsegmentsareselected,eachobjectivelyattractiveandappropriate.Littleornosynergymayexistamongthesegments,buteachsegmentpromisestomakemoneyforthecompany(i.e.carmanufacturers).MarketTargetingProductspecializationtargeting:Underthisarrangement,thecompanyspecializesinmakingacertainproductforseveralsegments.Theproductmightbefurtherspecializedforeachsegment(i.e.TexasInstrumentcalculators).Theriskistechnologicalchangemightendtheneedfortheproduct.MarketTargetingMarketspecializationtargeting:Focusisonservingtheneedsofaparticularcustomergroup(i.e.defensecontractors).Therisksarebudgetcutsandgroupshrinkage.MarketTargetingFullmarketcoveragetargeting:Aattemptismadetoserveallcustomergroupswithalltheproductstheymightneed.Onlyafewlargecompaniescanemploythistargetingmethodeffectively,butsometimeeventheyfail.MarketTargetingFullmarketcoveragetargeting:UndifferentiatedversusdifferentiatedmarketingUndifferentiated:ignoressegmentdifferencesandoffersonlyoneproductDifferentiated:operatesinseveralsegmentandoffersdifferentproductsforeachSalestendtobehigherfordifferentiatedmarketing,butsoarecosts.MarketTargetingAdditionalconsiderations:Segment-by-segmentinvasions:enteringonesegmentatatimeandavoidinglettingrivalsknowwhichsegmentisnext,goodplanningrequired.Updatingsegmentationarrangements:segmentationanalysisneedstobeonaregularbasis.Ethicalchoiceoftargetmarkets:sometimesachoicecancausecontroversy,consumerscanbeconcernedifvulnerablegroupsaretakenadvantageoforpotentiallyharmfulproductsarepromoted.9、靜夜夜四無無鄰，，荒居居舊業(yè)業(yè)貧。。。1月-231月-23Thursday,January5,202310、雨中中黃葉葉樹，，燈下下白頭頭人。。。02:59:2302:59:2302:591/5/20232:59:23AM11、以我獨(dú)獨(dú)沈久，，愧君相相見頻。。。1月-2302:59:2302:59Jan-2305-Jan-2312、故故人人江江海海別別，，幾幾度度隔隔山山川川。。。。02:59:2302:59:2302:59Thursday,January5,202313、乍見翻疑疑夢(mèng)，相悲悲各問年。。。1月-231月-2302:59:2302:59:23January5,202314、他鄉(xiāng)生生白發(fā)，，舊國見見青山。。。05一一月20232:59:23上午午02:59:231月-2315、比不不了得得就不不比，，得不不到的的就不不要。。。。一月232:59上上午午1月-2302:59January5,202316、行動(dòng)動(dòng)出成成果，，工作作出財(cái)財(cái)富。。。2023/1/52:59:2302:59:2305January202317、做前，，能夠環(huán)環(huán)視四周周；做時(shí)時(shí)，你只只能或者者最好沿沿著以腳腳為起點(diǎn)點(diǎn)的射線線向前。。。2:59:23上午午2:59上午午02:59:231月-239、沒有失敗，，只有暫時(shí)停停止成功！。。1月-231月-23Thursday,January5,202310、很多事情努努力了未必有有結(jié)果，但是是不努力卻什什么改變也沒沒有。。02:59:2302:59:2302:591/5/20232:59:23AM11、成成功功就就是是日日復(fù)復(fù)一一日日那那一一點(diǎn)點(diǎn)點(diǎn)點(diǎn)小小小小努努力力的的積積累累。。。。1月月-2302:59:2302:59Jan-2305-Jan-2312、世世間間成成事事，，不不求求其其絕絕對(duì)對(duì)圓圓滿滿，，留留一一份份不不足足，，可可得得無無限限完完美美。。。。02:59:2302:59:2302:59Thursday,January5,202313、不知香積積寺，數(shù)里里入云峰。。。1月-231月-2302:59:2302:59:23January5,202314、意志堅(jiān)強(qiáng)的的人能把世界界放在手中像像泥塊一樣任任意揉捏。05一月20232:59:23上午02:59:231月-2315、楚楚塞塞三三湘湘接接，，荊荊門門九九派派通通。。。。。一月月232:59上上午午1月月-2302:59January5,202316、少年十五二二十時(shí)，步行行奪得胡馬騎騎。。2023/1/52:59:2302:59:2305January202317、空山新雨雨后，天氣氣晚來秋。。。2:59:23上上午2:59上上午02:59:231月-239、楊柳柳散和和風(fēng)，，青山山澹吾吾慮。。。1月-231月-23Thursday,January5,202310、閱讀一一切好書書如同和和過去最最杰出的的人談話話。02:59:2302:59:2302:591/5/20232:59:23AM11、越是