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Transcript
The Consumer Audience Week 4 Lecture 7 Steps to Segmentation 1. Identify market type • • Homogenous Heterogeneous • Examples: – Telecom companies launch campaigns – Petrol company ads Steps to Segmentation 1. Identify market type 2. Dividing the market into groups of people with similar characteristics in certain key productrelated areas (Segment) Steps to Segmentation 1. Identify market type 2. Segment 3. Identify the group that will be the most profitable audience / is most likely to respond to the message (Target) Why Use Segmentation Approach? • Precisely match needs & wants of customers with high buying potential – Advertising messages – Product variations • Save on wastage in media plans • Generate more sales Segmentation Approaches Demographics Age & Life Stage Gender Ethnicity Religion Income Education Household Size Psychographics Society/Culture Lifestyle Personality Geographics International National State City Climate Urban/Rural Customer-Oriented Benefits Sought Behavior Traits Usage Rates User Status Brand Loyalty Product-Oriented Specific Problems solved by product Specific Benefits offered Demographics • Are statistical, personal, social & economic characteristics used to describe a population – – – – – – – Age Gender Education Income Occupation Race / Ethnicity Family Size Geographic • The area in which the target market lives – Urban / Suburban – City – Province – National – International – Climate Psychographic • Refers to lifestyles & psychological characteristics such as values, attitudes, beliefs, personality, motivations, interests & opinions – Activities (Hobbies, shopping, entertainment, social events…) – Opinions (Self, social issues, morality, culture, business, religion, environment, society…) – Interests (family, job, community, fashion, food, health…) – Trends & Fads Important Components • Culture & Values • Freedom, independence, individualism, collectivism, achievement, respect, excitement, openness, conservativeness, need for selffulfillment, long-term orientation, superiority, etc… • Reference Groups – guides for behavior • Social Class Usage Behavior • How much of a product category or brand a customer buys or may buy or how willing people are to innovate Consumer Categories Based on Product Usage Usage Rates Brand Relationship Innovation Light Non-Users Innovators Medium Ex-Users Early Adopters Heavy Regulars First-Timers Loyal Users Switchers Early Majority Late Majority Laggards Benefit Segmentation • Based on consumers’ needs or problems (or wants) or specific benefits consumers hope to derive Maslow’s Hierarchy of Needs • Primary (Innate) vs. Secondary Needs (acquired) Relevant Products Examples Other Segmentations • Lifestyles Analysis – How people allocate time, energy & money • VALS – Values & Lifestyle Analysis • Sociodemographic Segmentation – Baby Boomers, Gen X, Gen Y, Millenium Kids… Target Profiling • Also called Consumer Narrative • Descriptions of the target audience that read like a description of someone you know • Example (for Fishing Boat Charter): – Married men within 35 – 50 year age bracket with kids up to 3 in number aged 6 – 16, upper middle class socio-economic background with income around $90K or more per year. Well settled in their career with white-collar professional jobs. Reside in a coastal area of Florida. Busy schedule and usually pre-plan vacations & value comfort & relaxation over adventure. Vacations are a way to spend quality family time. Want to be role models for their sons and have strong progressive family values… Many have had prior fishing experience…