Lecture Marketing management: Chapter 8 – Nguyễn Thị Trang Nhung

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.
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Lecture Marketing management: Chapter 8 – Nguyễn Thị Trang Nhung18Identifying MarketSegments and TargetsMarket SegmentationTypes of Segmentation80 percent of acompany’s sales...are generated by 20 percentof its loyal customersSection 2.2Market SegmentationMass Marketing Vs. SegmentationMass MarketingAdvantagesDisadvantage• Economics of scale• Simplified marketing plan• Competitors can identifyunmet needs and wantsand then steal customersmass marketingUsing a single marketing strategy to reachall customers.Section 2.2Market SegmentationMass Marketing Vs. SegmentationNiche MarketingAdvantages• Extremely precise• Increased chance forsuccessDisadvantage• Cost– Research– Production– Packaging– AdvertisingChapter QuestionsWhat are the different levels of marketsegmentation?How can a company divide a market intosegments?What are the requirements for effectivesegmentation?How should business markets be segmented?How should a company choose the mostattractive target markets?Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall8-5