Lecture "Marketing management - Chapter 8: Identifying market segments and targets" presentation of content: Market segmentation, choosing target markets, steps in segmentation process And other contents. | 1 8 Identifying Market Segments and Targets Market Segmentation Types of Segmentation 80 percent of a company’s sales. are generated by 20 percent of its loyal customers Section Market Segmentation Mass Marketing Vs. Segmentation Mass Marketing Advantages Disadvantage • Economics of scale • Simplified marketing plan • Competitors can identify unmet needs and wants and then steal customers mass marketing Using a single marketing strategy to reach all customers. Section Market Segmentation Mass Marketing Vs. Segmentation Niche Marketing Advantages • Extremely precise • Increased chance for success Disadvantage • Cost – Research – Production – Packaging – Advertising Chapter Questions What are the different levels of market segmentation? How can a company divide a market into segments? What are the requirements for effective segmentation? How should business markets be segmented? How should a company choose the most attractive target markets? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice .
