Focus on Market Segments
MARKETING MATTERS Businesses need to focus their marketing efforts on the potential customers who are most likely to buy their products and services in order to become profitable
Why do you think dividing a larger market into several segments is useful for marketers
Market Segmentation
The Benefits of Segmentation
What important characteristics does this group of potential customers share?
Segmentation Categories
Geographic Segmentation
Which consumers in Saudi Arabia are more likely to be interested in products for water sports?
Demographic Segmentation
Psychographic Segmentation
Product Usage Segmentation
in question and the quantity of the product (or service) that they use
How could a hotel make itself more appealing to frequent business travelers?
MARKETING SCENARIO Tailoring a product range to reflect consumers' benefit expectations
How did the company respond to these findings and what was the outcome
What findings from the data analysis were most interesting for the company
Who did the company gather data from and what did they want to find out
Customer experience
Benefit Expectations
Segmenting the Business Market
How do you think a business's approach to segmenting business markets is the same as or different from segmenting consumer markets? Explain your answer
Which of the segmentation categories you read about in this section have a greater influence on consumer purchase decisions than others? Explain your answer and give examples to support it if
What advantages can segmentation bring to a business that uses it
Identify and Analyze Market Segments
Identify Possible Segments
Gather information for analysis.
Determine Market Potential
What is the relationship between market potential and market share
What do companies usually do after gathering information about a market
What are the two reasons why businesses decide to segment a market
Why does a business need to identify the segments of a market it wants to enter
Which market segmentation strategy is also called behavioral segmentation
Which market segmentation strategy classifies consumers according to characteristics such as age, gender, ethnic group, income, and educational level
Make Academic Connections Visual Art
Connect to the Real World Your team manages a new jewelry store in your community