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Lecture

Market Segmentation Analyses.docx

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Department
Geography
Course
GEO 793
Professor
Cynthia Mason
Semester
Fall

Description
MARKET SEGMENTATION ANALYSES:  Market segmentation analyses: 1. Macro environment: STEEP Analysis (Sociocultural & Demographic, Technology, Economic, Ecology & Physical, Political & Legal)  Macro-environmental planning tool to assess: o Sociocultural and demographic factors: values, lifestyles, demographics, etc. o Technological factors: product innovation/ improvement, delivery, etc. o Economic factors: interest rates, inflation, employment, GDP, etc. o Ecology and physical environmental factors: climate, fuel costs, etc. o Political and legal factors: policy, stability, taxes/ regulations, trade agreements, etc. 2. Micro/ Macro Environment: SWOT Analysis  Strengths (Internal organizational strengths): expertise, product efficiencies, superior product, etc.  Weaknesses (Internal organizational weaknesses): lack of expertise, location, inferior product, etc.  Opportunities (External market opportunities): developing market, alliances, weak competitor, etc.  Threats (external market threats): new/ strong competitor, change in regulation, etc. 3. Micro Environment: Porter’s 5 Forces Industry Competitors: Net Entrants, Buyers, Subsitutes, Supplier  Threat of entry: relative strengths of barrier to entry.  Power of buyers: relative concentration, differentiation, propensity to switch.  Power of suppliers: relative fragmentation, brand power, propensity to switch.  Threats of substitutes: lack of real differentation, product-for-profit, generic. 4. Target Segment Analysis: STP  Market Segmentation: identity basis for segmenti
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