This PPT slide, part of the 63-slide Marketing Plan Development Framework PowerPoint presentation, presents a framework for market segmentation, emphasizing the various methods available for categorizing markets. It outlines 3 primary segmentation approaches: Consumer Markets, Industrial Markets, and Horizontal Markets. Each category offers distinct criteria for segmentation, which can help businesses tailor their marketing strategies effectively.
In the Consumer Markets section, the slide lists demographic factors such as age, gender, income, ethnicity, and purchase history. These factors are critical for understanding consumer behavior and preferences. For instance, segmenting by age can help identify target groups for specific products, while income brackets can guide pricing strategies.
The Industrial Markets segment focuses on product types, industries, applications, and geography. This approach is essential for businesses targeting other organizations, as it allows for a more nuanced understanding of the needs and requirements of different sectors. For example, knowing the specific applications within industries like retail or construction can inform product development and marketing tactics.
The Horizontal Markets section, while less detailed, suggests that segmentation can also occur across various industries or applications, indicating a broader approach that transcends traditional boundaries.
The concluding statement highlights that the most effective way to segment a market is based on customer needs. This insight underscores the importance of aligning marketing strategies with the actual demands and preferences of the target audience. Companies should prioritize understanding these needs to enhance their market positioning and drive growth.
This slide serves as a foundational overview for organizations looking to refine their market segmentation strategies, providing practical insights into how to categorize and approach different market segments effectively.
This slide is part of the Marketing Plan Development Framework PowerPoint presentation.
Designed by a firm of ex-consultants from McKinsey, E&Y, and Bearing Point, this is a comprehensive presentation for conducting market analysis and developing a robust marketing plan.
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Marketing Plan Development Consumer Behavior Market Segmentation Product Development Positioning
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