CUSTOMER SEGMENTATION AND TARGETING
- Created by: lisa_spratling
- Created on: 31-05-17 04:27
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- Customer Segmentation & Targeting
- Marketing Strategy
- Segmenting a market into groups of buyers with similar traits & targeting those segments with different offerings.
- Mass market approach, including different product options to address heterogeneity in demand.
- Popularity of Strategies
- Focus on segmentation and targeting is popular.
- Misplaced assumptions & poor costing practices in segmentation and targeting.
- Marketers should be cautious before deciding not to focus on entire market.
- Segments
- Targeting a defined segment can be sensible.
- All segments need a number of traits in order to be useful.
- Easily identifiable characteristics of buyers that relate to substantial differences in buying.
- Identifying Segments
- Complex techniques are commonly used.
- Raw numbers & total market response should underpin any decision making.
- Smart Makreters
- Don't over-target.
- Understand who is buying the category.
- Understand the importance of light buyers to brand growth.
- Marketing Strategy
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