Market Segmentation Strategies - Importance and Implementation
Understand the significance of market segmentation, targeting, and differentiation strategies in reaching diverse customer needs effectively. Learn how to identify and target specific market segments for tailored marketing initiatives.
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Presentation Transcript
Segmenting and Targeting Markets Pertemuan 8 Rahmat Jatmika MBA
What are Markets? Market: people or institutions with sufficient purchasing power, authority, and willingness to buy Types of Markets
Requirements of a Markets Need Ability + Willingness Authority
Role of Market Segmentation Market Segmentation: division of the total market into smaller, relatively homogeneous groups Why? Levels Mass, Segment, and Niche
Why segment? Most efficient Most effective Many Groups of One One Mass Market
The Importance of Market Segmentation Markets have a variety of product needs and preferences. Marketers can better define customer needs. Decision makers can define objectives and allocate resources more accurately.
Targeting Choosing one or more segments for which to design your marketing operations
Undifferentiated Strategy Single Marketing Mix Organization Target Market
Differentiated Strategy Marketing Mix 1 Marketing Mix 2 Organization Target Market
Concentrated Strategy Single Marketing Mix Organization Target Market
