MKT 100 Lecture Notes - Lecture 6: Psychographic, European Cooperation In Science And Technology, Caffeine

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25 Apr 2012
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Week 8 Segmentation, Targeting, Positioning Part 2
Effective Marketing Requires
Segmentation: Identify and profile distinct groups of buyers who differ in their
needs and preferences.
Targeting: Select one or more market segments to enter.
Positioning: Establish and communicate the distinctive benefits of the market
offering.
“Market” and “Segment” Differ
Market: refers to a group of buyers (overall market) e.g., baby boomers Age 45-
63
Segment: refers to the subgroup of buyers within the Market that have a
COMMON NEED e.g., female baby boomers who are empty nesters and
retired and enjoy reading
Preference Patterns to Segment Needs
Market Segments
Are Identified, not created: The role of the marketer is not to create the segment,
but to target the segment and determine which to _________________
Start with a Common Need: In identifying market segments, begin with
understanding ___________________________ and then layer in geographic,
demographic, psychographic and behavioural characteristics
Layer in other segmentation variables: GooDPUB
Segmentation Process
Example: Segmentation of PDA preferences, identify the small segments with a few
competitors and then we make our decision that’s important to consumers
Car buying market (overall market)
Young, middle income car buyers (Sector)
Seeking low cost basic transportation, seeking a luxurious driving experience, seeking a
performance oriented machine (segment groupings)
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