Market Segmentation

hariRaj

ACCA P3考试：Market Segmentation
Market segmentation allows the company to vary its marketing mix to satisfy each of the market segments it chooses to enter.
Managers consider the following:
Customer needs that vary due to:
characteristics of people and organisations;
the purchase and use situation; and
users' needs and preferences.
Relative market share already achieved (share in relation to that of competitors); and
How segments can be identified and serviced (availability of customer data and processing).
1 Consumer Segmentation Bases
Geographic;
Psychographic or lifestyle aspects (feelings and attitudes);
Purchasing characteristics;
Demographic. There are two main models:
Socio-economic grouping
Family life cycle segmentation
2 Industrial Segmentation
Industrial markets can be segmented by applying the same bases used in consumer markets. Typically, the emphasis will be put on:
Geographic—most obvious for firms operating internationally;
Purchasing characteristics—frequency and size of orders;
Products manufactured (e.g. aircraft engines v car engines);
Benefit expectations (e.g. guarantee of supply, quality or innovative design); and
Company type and size—smaller customers need fewer deliveries, larger ones may expect JIT.
3 Segmentation Criteria
The following criteria should be considered when deciding on the most appropriate segments to develop and maintain a successful segmentation strategy:
Measurability/availability of information;
Accessibility of segment (i.e. distribution);
Substantiality (i.e. size) of market segment;
Stability of buying behaviour.
If a segment fails on some of these criteria, then it will be difficult to develop and maintain a successful segmentation strategy.