Chapter 10 Developing a Target Market Strategy Huang pei Ph. D
Chapter 10 Developing a Target Market Strategy Huang Pei Ph.D
Obiectives To describe the process for planning a target market strategy To examine alternative demand patterns and segmentation bases for both final and organizational consumers s To explain and contrast undifferentiated marketing (mass marketing), concentrated marketing, and differentiated marketing(multiple segmentation) To show the importance of positioning in developing a marketing strategy e To discuss sales forecasting and its role in target marketing
Objectives ◆ To describe the process for planning a target market strategy ◆ To examine alternative demand patterns and segmentation bases for both final and organizational consumers ◆ To explain and contrast undifferentiated marketing (mass marketing), concentrated marketing, and differentiated marketing (multiple segmentation) ◆ To show the importance of positioning in developing a marketing strategy ◆ To discuss sales forecasting and its role in target marketing
10-1: Overview ◆ market market segmentation-dividing the market into distinct subsets of customers that behave in the same way or have similar needs Developing a target market strategy consists of three general phases: analyzing consumer demand targeting the market, and developing the marketing strategy
10-1: Overview ◆ market ◆ market segmentation–dividing the market into distinct subsets of customers that behave in the same way or have similar needs. ◆ Developing a target market strategy consists of three general phases: analyzing consumer demand, targeting the market, and developing the marketing strategy
undifferentiated marketing(mass marketing-targeting the whole market with a single basic marketing strategy intended to have mass appeal concentrated marketing-targeting one well-defined market segment with one tailored marketing strategy; differentiated marketing (multiple segmentation) targeting two or more well-defined market segments with a marketing strategy tailored to each segment Third, a firm positions its offering relative to competitors and outlines the proper marketing mix(es). Of particular importance here is attaining product differentiation
◆ undifferentiated marketing (mass marketing)–targeting the whole market with a single basic marketing strategy intended to have mass appeal; ◆ concentrated marketing–targeting one well-defined market segment with one tailored marketing strategy; ◆ differentiated marketing (multiple segmentation)– targeting two or more well-defined market segments with a marketing strategy tailored to each segment. ◆ Third, a firm positions its offering relative to competitors and outlines the proper marketing mix(es). Of particular importance here is attaining product differentiation
10-2: Analyzing Consumer Demand 1.Determining demand Patterns homogeneous demand, consumers have rather uniform needs and desires for a good or service category clustered demand consumer needs and desires for a good or service category can be divided into two or more clusters(segments) each having distinct purchase criteria
10-2:Analyzing Consumer Demand 1.Determining Demand Patterns homogeneous demand, consumers have rather uniform needs and desires for a good or service category. clustered demand, consumer needs and desires for a good or service category can be divided into two or more clusters (segments), each having distinct purchase criteria