-- Continued...
Sequential segmentation
business buyers seek different benefit bundles based on their stage in the purchase decision process.
1.first time prospects
2. Novices
3.sophisticates
One proposed segmentation scheme classifieds business buyers into three groups, each warranting a different type of selling:
1. price oriented customers (transactional selling) -- wanting value through lowest price
2.solution oriented customers (consultants selling) -- want value through more benefits and advice
3.strategic value customers (price selling) -- want value through the supplier tell investing in purchasing and the customers business
Market targeting
once the firm has identified its market segment opportunities, and it has to decide how many and which ones to target.
Effective segmentation criteria
to be useful, market segments must rate favorably on five key criteria:
Measurable -- the size, purchasing power, and characteristics of the segments can be measured
substantial -- the segments are large and profitable enough to serve
accessible -- the segments can be effectively reached and served
differentiable -- the segments are conceptually distinguishable and respond differently to different marketing mix elements and programs
actionable -- effective programs can be formulated for tracking and serving the segments
Evaluating and selecting the market segments
When evaluating different market segments, the firm must look for two factors: the segments overall attractiveness and the company's objectives and resources.
After evaluating different segments, the company can consider the five patterns of target market selection:
single segment concentration
selective specialization
product specialization
market specialization
full market coverage in paragraph
Sequential segmentation
business buyers seek different benefit bundles based on their stage in the purchase decision process.
1.first time prospects
2. Novices
3.sophisticates
One proposed segmentation scheme classifieds business buyers into three groups, each warranting a different type of selling:
1. price oriented customers (transactional selling) -- wanting value through lowest price
2.solution oriented customers (consultants selling) -- want value through more benefits and advice
3.strategic value customers (price selling) -- want value through the supplier tell investing in purchasing and the customers business
Market targeting
once the firm has identified its market segment opportunities, and it has to decide how many and which ones to target.
Effective segmentation criteria
to be useful, market segments must rate favorably on five key criteria:
Measurable -- the size, purchasing power, and characteristics of the segments can be measured
substantial -- the segments are large and profitable enough to serve
accessible -- the segments can be effectively reached and served
differentiable -- the segments are conceptually distinguishable and respond differently to different marketing mix elements and programs
actionable -- effective programs can be formulated for tracking and serving the segments
Evaluating and selecting the market segments
When evaluating different market segments, the firm must look for two factors: the segments overall attractiveness and the company's objectives and resources.
After evaluating different segments, the company can consider the five patterns of target market selection:
single segment concentration
selective specialization
product specialization
market specialization
full market coverage in paragraph
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