What is the target market segment strategy
Division of the overall market according to certain criteria into buyer groups or segments, which should be as similar (homogeneous) as possible and as dissimilar (heterogeneous) as possible with regard to their purchasing behavior or characteristics relevant to purchasing behavior.
Main purpose Market segmentation is to uncover differences between buyers in order to draw conclusions for segment-specific marketing programs (marketing) (customer structure analysis). This results in two Subtasks: The market segments have to be defined (taxonomic market segmentation) and segment-specific strategies are developed and implemented (management-oriented market segmentation).
1. Market capture strategies with the help of purchasing behavior-relevant Segmentation criteria: a) Segmentation according to demographic (religion, gender, age, household size), according to socio-economic (income, schooling, occupation) and according to psychographic criteria (lifestyle, characteristics of personality).
b) Segmentation according to buying behavior and response characteristics (buyer, non-buyer, behavior with regard to non-price marketing instruments, price response, willingness to pay, price sensitivity, price setting and special offer response). The advantage of segmentation according to general buyer characteristics
(1) lies in the ease with which the criteria can be measured; their disadvantage is their relatively low prognostic relevance with regard to actual purchasing behavior. With a segmentation according to purchasing behavior and response characteristics
(2) the directly relevant criteria for a market segmentation are recorded directly, but are relatively difficult to observe and / or the segments formed on this basis cannot be specifically addressed. Therefore, one tries (3) to establish relationships between the segments defined according to purchasing behavior characteristics and the general buyer characteristics in order to then redefine the segments. The statistical methods used are mainly regression analysis, cluster analysis, discriminant analysis, AID analysis and multidimensional scaling (MDS).
2. Strategies for segment-specific market development: a) concentrated market strategy: processing only the most lucrative segment (market niche); b) differentiated marketing strategy: processing of several segments; c) selectively differentiated strategy: processing of less selected segments.
3. Market segmentation in capital goods marketing:Macro segmentation.
4. Market segmentation on an international level:International market segmentation.
- How to measure distance at sea
- What do you advise start-up CEOs
- How do television commercials benefit from money
- Can I download videos from Zee5
- How can I earn 500 with Quora
- Where is the cache 1
- Time can be the fourth dimension
- What are the top 7 profitable franchises
- Do you enjoy your life without children
- Which fruit is tasty but unhealthy?
- If 3x 3 9x what is x
- What are the benefits of health education
- How much data can a satellite transmit
- Which US state has the most money
- How will hybrid cars affect Tesla
- Sleep truck drivers in their trucks
- Will everyday running improve my life?
- Which country has politely speaking citizens?
- Annuity funds are a good investment
- What does God say about Asians
- How do I know if I'm charismatic?
- Can replace Facebook Libra money crypto currency
- What happened to Mr. Kiasu
- NDTV is funded by Anti-India Agencies