In this chapter, the following content will be discussed: Market targeting, differentiation and positioning, selecting target market segments, evaluating market segments, target marketing strategies, four levels of micromarketing, . | LECTURE 12 Creating Value for Target Customers Copyright 2012 Pearson Education Inc. Publishing as Prentice Hall 1- 1- 11 Topic Outline Market Targeting Differentiation and Positioning Copyright 2012 Pearson Education Inc. 1- 2 Publishing as Prentice Hall Market Targeting Selecting Target Market Segments Target market consists of a set of buyers who share common needs or characteristics that the company decides to serve Copyright 2012 Pearson Education Inc. 1- 3 Publishing as Prentice Hall Market Targeting Evaluating Market Segments Segment size and growth Segment structural attractiveness Company objectives and resources Copyright 2012 Pearson Education Inc. 1- 4 Publishing as Prentice Hall Market Targeting Target Marketing Strategies Undifferentiated marketing targets the whole market with one offer Mass marketing Focuses on common needs rather than what s different Copyright 2012 Pearson Education Inc. 1- 5 Publishing as Prentice Hall Market Targeting Target Marketing Strategies Differentiated marketing targets several different market segments and designs separate offers for each Goal is to achieve higher sales and stronger position More expensive than undifferentiated marketing Copyright 2012 Pearson Education Inc. 1- 6 Publishing as Prentice Hall Market Targeting Target Market Strategies Concentrated marketing targets a small share of a large market Limited company resources Knowledge of the market More effective and efficient Copyright 2012 Pearson Education Inc. 1- 7 Publishing as Prentice Hall Marketing Targeting Target Market Strategies Micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations Local marketing Individual marketing Copyright 2012 Pearson Education Inc. 1- 8 Publishing as Prentice Hall Market Targeting Target Market Strategies Local marketing involves tailoring brands and promotion to the needs and wants of local customer groups Cities Neighborhoods Stores Copyright
