MARKETINGMANAGEMENT12thedition8IdentifyingMarketSegmentsandTargetsKotlerKeller8-2ChapterQuestionsWhatarethedifferentlevelsofmarketsegmentation?Howcanacompanydivideamarketintosegments?Howshouldacompanychoosethemostattractivetargetmarkets?Whataretherequirementsforeffectivesegmentation?8-3EffectiveTargetingRequires…Identifyandprofiledistinctgroupsofbuyerswhodifferintheirneedsandpreferences.Selectoneormoremarketsegmentstoenter.Establishandcommunicatethedistinctivebenefitsofthemarketoffering.8-4FourLevelsofMicromarketingSegmentsNichesLocalareasIndividuals8-5SegmentMarketingTargetingagroupofcustomerswhoshareasimilarsetofneedsandwants.8-6FlexibleMarketingOfferingsNakedsolutionProductandserviceelementsthatallsegmentmembersvalueDiscretionaryoptionsSomesegmentmembersvalueOptionsmaycarryadditionalcharges8-7TheExperienceEconomyExperienceServicesGoodsCommodity8-8CustomerizationCombinesoperationallydrivenmasscustomizationwithcustomizedmarketinginawaythatempowersconsumerstodesigntheproductandserviceofferingoftheirchoice.8-9SegmentingConsumerMarketsGeographicDemographicPsychographicBehavioral8-10DemographicSegmentationAgeandLifeCycleLifeStageGenderIncomeGenerationSocialClass8-11Figure8.3ProfilingAmericanGenerationsGIGeneration1901-1924SilentGeneration1925-1945BabyBoomers1946-1964GenerationX1965-1977GenerationY1978-1994Millenials1995-20028-12BehavioralSegmentationDecisionRolesInitiatorInfluencerDeciderBuyerUserBehavioralVariablesOccasionsBenefitsUserStatusUsageRateBuyer-ReadinessLoyaltyStatusAttitude8-13SegmentingforBusinessMarketsDemographicOperatingVariablePurchasingApproachesSituationalFactorsPersonalCharacteristics8-14ModelsofSequentialSegmentationStageofdecisionFirst-timeprospectsNovicesSophisticatesOrientationPrice-orientedSolution-orientedStrategic-value8-15StepsinSegmentationProcessNeeds-basedsegmentationSegmentidentificationSegmentattractivenessSegmentprofitabilitySegmentpositioningSegmentacidtestMarketingmixstrategy8-16EffectiveSegmentationCriteriaMeasurableSubstantialAccessibleDifferentiableActionable