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McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

LO1 WHY SEGMENT MARKETS? WHAT MARKET SEGMENTATION MEANS! Market Segmentation! Market Segments! Product Differentiation! Segmentation: Linking Needs to Actions! The Zappos Segmentation Strategy 9-5

FIGURE 9-2 A market-product grid shows the kind of sleeper that is targeted for each of the bed pillows with a different firmness 9-8

LO1 WHY SEGMENT MARKETS? WHEN AND HOW TO SEGMENT MARKETS! Segments of One: Mass Customization Mass Customization Build-to-Order (BTO) 9-11

LO3 STEPS IN SEGMENTING AND TARGETING MARKETS STEP 1: GROUP POTENTIAL BUYERS INTO SEGMENTS! Ways to Segment Consumer Markets Geographic Segmentation Demographic Segmentation 9-15

FIGURE 9-8 Wendy s new products and innovations target specific market segments based on a customer s gender, needs, or Wendy s Ad university affiliation 9-24

LO3 STEPS IN SEGMENTING AND TARGETING MARKETS STEP 2: GROUP PRODUCTS INTO CATEGORIES! Individual Wendy s Products! Groupings of Wendy s Products: Meals Breakfast Dinner Lunch After Dinner Snack Between Meal Snack 9-25

LO4 STEPS IN SEGMENTING AND TARGETING MARKETS STEP 4: SELECT TARGET MARKETS! Criteria to Use in Selecting Target Markets Market Size Expected Growth Competitive Position Cost of Reaching the Segment Compatibility with Organizational Objectives and Resources 9-29

LO4 MARKETING MATTERS Apple s Segmentation Strategy Camp Runamok No Longer 9-34

LO5 POSITIONING THE PRODUCT! Product Positioning! Product Repositioning! Two Approaches to Product Positioning Head-to-Head Positioning Differentiation Positioning! Writing a Positioning Statement 9-35

FIGURE 9-A A perceptual map of the location of beverages in the minds of American adults 9-37

FIGURE 9-11 The strategy American dairies are using to reposition chocolate milk to reach adults 9-39

VIDEO CASE 9 PRINCE SPORTS, INC.: TENNIS RACQUETS FOR EVERY SEGMENT 9-40

FIGURE 1 Prince Sports targets racquets at specific market segments 9-41

VIDEO CASE 9 PRINCE SPORTS 1. In the 21 st century, what trends in the environmental forces (social, economic, technological, competitive, and regulatory) (a) work for and (b) work against success for Prince Sports in the tennis industry? 9-42

VIDEO CASE 9 PRINCE SPORTS 2. Because sales of Prince Sports in tennis-related products depends heavily on growth of the tennis industry, what marketing activities might it use in the U.S. to promote tennis playing? 9-43

VIDEO CASE 9 PRINCE SPORTS 3. What promotional activities might Prince use to reach (a) recreational players and (b) junior players? 9-44

VIDEO CASE 9 PRINCE SPORTS 4. What might Prince do to help it gain distribution and sales in (a) mass merchandisers like Target and Walmart and (b) specialty tennis shops? 9-45

VIDEO CASE 9 PRINCE SPORTS 5. In reaching global markets outside the U.S., (a) what are some criteria that Prince should use to select countries in which to market aggressively, (b) what three or four countries meet these criteria best, and (c) what are some marketing actions Prince might use to reach these markets? 9-46

Market Segmentation Market segmentation involves aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action. 9-47

Market Segments Market segments are the relatively homogeneous groups of prospective buyers that result from the market segmentation process. 9-48

Product Differentiation Product differentiation is a marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products. 9-49

Market-Product Grid A market-product grid is a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. 9-50

Usage Rate Usage rate is the quantity consumed or patronage (store visits) during a specific period. Also called frequency marketing. 9-51

80/20 Rule The 80/20 rule is a concept that suggests 80 percent of a firm s sales are obtained from 20 percent of its customers. 9-52

Product Positioning Product positioning is the place an offering occupies in a consumer s mind on important attributes relative to competitive products. 9-53

Product Repositioning Product repositioning involves changing the place an offering occupies in a consumer s mind relative to competitive products. 9-54

Perceptual Map A perceptual map is a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as the firm s own product or brand. 9-55

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