* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Target market
Brand equity wikipedia , lookup
First-mover advantage wikipedia , lookup
Consumer behaviour wikipedia , lookup
Market penetration wikipedia , lookup
Market analysis wikipedia , lookup
Customer experience wikipedia , lookup
Customer relationship management wikipedia , lookup
Sales process engineering wikipedia , lookup
Bayesian inference in marketing wikipedia , lookup
Social media marketing wikipedia , lookup
Product planning wikipedia , lookup
Food marketing wikipedia , lookup
Neuromarketing wikipedia , lookup
Affiliate marketing wikipedia , lookup
Market segmentation wikipedia , lookup
Marketing channel wikipedia , lookup
Marketing communications wikipedia , lookup
Customer engagement wikipedia , lookup
Sports marketing wikipedia , lookup
Marketing research wikipedia , lookup
Ambush marketing wikipedia , lookup
Multi-level marketing wikipedia , lookup
Youth marketing wikipedia , lookup
Digital marketing wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Viral marketing wikipedia , lookup
Target audience wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Sensory branding wikipedia , lookup
Direct marketing wikipedia , lookup
Segmenting-targeting-positioning wikipedia , lookup
Marketing plan wikipedia , lookup
Green marketing wikipedia , lookup
Advertising campaign wikipedia , lookup
Multicultural marketing wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Target market wikipedia , lookup
Global marketing wikipedia , lookup
Segmentation and Targeting ATM Semester 2 Lecture 1 By Sanemkhan Nurillaeva Agenda • • • • Segmentation PITA Model Target market strategies Customer Profiles Target Marketing Process Target marketing strategy consists of 3 separate steps 1) 2) 3) Dividing the market into meaningful segments Selecting segments Design a unique marketing mix for each segment (Solomon, et.al, 2013) 1. Segmentation Segmentation: Definition Market Segmentation Dividing a market into distinct groups of buyers with different needs, characteristics or behavior, who might require separate products or marketing mixes. (P. Kotler) The process of dividing a larger market into smaller pieces based on one or more meaningful , shared characteristics (Solomon, et.al, 2013) Segmenting consumer markets Demographic • Age • Gender • Race • Ethnicity • Marital status • Family size • Family life cycle •Income Behavioural • End use • Benefits Geographic • Region • County size • City size • Density • Climate Psychographic /Lifestyle • Social Class • Activities • Interests • Opinions sought • Usage rate • Loyalty • Attitude •Readiness to purchase Social Class Social Grade Description % HRP population (UK) AB Higher & intermediate managerial, administrative, professional occupations 22.17 C1 Supervisory, clerical & junior managerial, administrative, professional occupations 30.84 C2 Skilled manual occupations 20.94 DE Semi-skilled & unskilled manual occupations, Unemployed and lowest grade occupations 26.05 Office of National Statistics (2011) Population Density in Uzbekistan UN Office for the Coordination of Humanitarian Affairs (2009) Population in Uzbekistan Population in Uzbekistan Age structure: 0-14 years: 24.9% (male 3,693,838/female 3,514,734) 15-24 years: 20.5% (male 3,008,779/female 2,934,534) 25-54 years: 43% (male 6,178,921/female 6,255,715) 55-64 years: 6.8% (male 926,129/female 1,036,576) 65 years and over: 4.8% (male 588,881/female 791,609) (2014 est.) 2. PITA model PITA Model • Companies are most fascinated by increasing sales to present customers and finding attractive customer segments. • Sales volume is a simple mathematical formula. Understanding the formula should help unlock some possibilities on how to generate new sales volume. PITA = Population*Incidence*Times*Amount PITA Model PITA = Population*Incidence*Times*Amount P – Population, a number of targeted people I – Incidence is the proportion of the target population that has (or would) purchased what you are selling T – Times, frequency of purchase A – Amount of money consumers (or merchants) are willing to pay. PITA Model Example Trombopol –medicine used in order to prevent heart attacks Target: Uzbek Male 55-64 years (≈927,000) PITA= 927,000*5%*12times a year* 6000 sums= 3.3372 bln UZS 3. Targeting Targeting: Definition Targeting –Evaluating attractiveness of each potential segment and decide which of these groups marketers will invest resources in to try to turn them into customers (Solomon, et.al, 2013) Target market – The customer group or groups selected by the firm (Solomon, et.al, 2013) Targeting Strategies There are 4 main Targeting Strategies (Solomon, et.al, 2013) 1. Undifferentiated Marketing 3. Concentrated Marketing 2. Differentiated Marketing 4. Customized Marketing 1. Undifferentiated Marketing Company concentrates on common needs which must be greater than the needs that separate them Company Marketing mix Whole Market Undifferentiated Marketing Example Organization Post Office Marketing mix Target market •Product •Price •Promotion •Place Everybody 2. Differentiated Marketing Company develops a separate marketing mix to meet the needs of each segment Company Marketing mix 1 Segment 1 Marketing mix 2 Segment 2 Marketing mix 3 Segment 3 Differentiated Marketing Example UMS tariffs in Uzbekistan Differentiated Marketing Example Marketing mix 1 Businessmen Marketing mix 2 Students Marketing mix 3 Young Entrepreneurs 3. Concentrated Marketing Company focuses its efforts on offering one or more products and to a single segment using certain marketing mix Segment 1 Company Marketing mix Segment 2 Segment 3 Concentrated Marketing Example Industrial Cars Marketing mix Luxury Sport Cars Family Cars 4. Customized Marketing Company often works in B2B sector with one or few large clients and develops a product and services that only these clients will use. Company Marketing mix 1 Customer 1 Marketing mix 2 Customer 2 Marketing mix 3 Customer 3 Customized Marketing Example Marketing mix 1 Supermarket Marketing mix 2 Construction Group Marketing mix 3 Factory 4. Customer Profiles Customer Profile: Definition Customer/Segment –Description of the “typical” customer in that segment. Once a marketer has identified a set of usable segments, it is helpful to generate a profile of each to really understand segment members’ needs and to look for business opportunities (Solomon, et.al, 2013) Customer Profile Example Jasur: Male 20-25, Student from Tashkent, Uzbek Entertainment Hobby Games Customer Profile Example Jasur: Male 20-25, Uzbek • Web Sites: • Channels to watch: ⁻ ⁻ ⁻ ⁻ ⁻ Facebook OK.ru YouTube Gazeta.UZ Afisha.Uz ⁻ ⁻ ⁻ ⁻ • Games: ⁻ ⁻ ⁻ ⁻ ⁻ ⁻ ⁻ ТНТ Yoshlar MY5 МУЗ ТВ • Places to Shop: PES 2016 Dota Candy Crash Saga War Craft Places to Eat: ⁻Bibigon ⁻BBQ Burger ⁻PlovSamsa.uz ⁻Caramel coffee and pastry Korzinka.uz MAKRO Poytaht Entertainment: ⁻Bowler ⁻Premier Hall Hobby: ⁻ Playing Football Customer Profile Determining Customer Profile shows customer destinations, shopping and eating habits, interests, activities and media preferences. This information helps to find ways of “catching” target customers through marketing communications of the company. Reading Brassington F. and Pettit S. (2003) Principles of Marketing, Pitman Publishing. Chapter 5 Jobber, D.(2001) Principles and Practice of Marketing, McGraw Hill. Chapter 7 P.Kotler, Principles of Marketing,3rd European edition,2002, Prentice Hall. Chapter 9 and 10 Solmon, M. et al (2013) Marketing: Real People, Real Decisions, 2nd European ed. Pearson Education Chapter 6