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2.TestingSegmentRobustnessMeasurable:variablesthatcanbeeasilyidentifiedandmeasured,suchasageorresidentialarea,maybepreferredtovariablesorattributesrequiringmoreelaboratemeasurementtechniquesEconomicallyviable:thesegmentmustbecapableofproducingtheprofitcontributiontojustifytheeffortandcostoftargetmarketing
Accessible:evenasegmentthatisclearlyidentifiedandobviouslyviablemaynotbeaccessible,eithergeographicallyorintermsofcost/effectivemediacommunicationsActionable:thedegreetowhich,givenlimitedtimeandresources,afirmcanformulateeffectiveprogrammestoattractandservethesegments
3.StrategicSegmentationDecisionMASSMARKETINGUsingalmostthesameproduct,promotiondistributionforallcustomersi.e.Nosegmentation-‘onesizefitsall’SEGMENTMARKETINGAdaptingacompany’sofferingssothattheymorecloselymatchtheneedsofoneormoresegments
NICHEMARKETINGAdaptingacompany’sofferingstomorecloselymatchtheneedsofoneormoresubsegmentswherethereisoftenlittlecompetitionMICROMARKETINGCompaniestailortheirmarketingprogrammestotheneedsandwantsofnarrowlydefinedgeographic,demographic,psychographicorbehaviouralsegments
EconomiesofscaleEconomiesofscopeMASSMARKETINGSEGMENTMARKETINGNICHEMARKETINGMICRO-MARKETING
2.TARGETINGTargetmarket:Asetofbuyerssharingcommonneedsorcharacteristicsthatthecompanydecidestoserve.
COMPANYFITLong-termobjectivesofcompanyCurrentpositioninthemarketinwhichthesegmentisFitwithcurrentmarketingassetsofthecompanyCompanyresources
Alternativetargetingstrategies:UNDIFFERENTIATEDMARKETINGProducingasingleproductdesignedtoappealacrosstheboardtoallsegmentsDIFFERENTIATEDMARKETINGOfferingadifferentproducttoeachofthedifferentmarketsegmentsCONCENTRATEDMARKETINGFocusingattentiononone,orfewsegments.
3.POSITIONINGProductposition:Thewaytheproductisdefinedbyco
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