Segmentation and Targeting

Segmentationand TargetingSegmentation and targetingOutline The Segmentation - Targeting -positioning (STP) framework Segmentation The concept of market Segmentation Managing the Segmentation process Deriving market segments and describing the segments Step 1: Cluster analysis Step 2: Discriminant analysis TargetingSegmentation and targetingLearning goals Understand what STP means and how it creates value Explain the concept of market Segmentation Choose relevant Segmentation bases based on differentiability and identifiability Know the steps in designing a Segmentation study Perform a cluster analysis to derive market segments Conduct a discriminant analysis to characterize the market segments Select segments for Targeting using portfolio analysisSegmentation and targetingSTP Segmentation , Targeting , PositioningProductPriceCommunicationDist ributionAll consumersin the marketTarget marketsegment(s)

Segmentation and targeting Problems with many segmentations Markets can be segmented using many different variables, but these variables may not capture differences in response to the marketing mix; Product-specific segmentation bases are usually better indicators of differences in customer response than general segmentation bases;

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  Customer, Segmentation

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