Consumer Segmentation Marketing Action Steps

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4 Terms

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Target Segmentation Steps

  1. Identify Market Needs

  2. Link Needs to Actions

  3. Execute Market Programming Actions

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Link Needs to Actions (Steps)

  1. Group Buyers into Segments

  2. Group Products to be Sold into Categories

  3. Develop a Market-Product Grid and Estimate the Size of Markets

  4. Select Target Markets

  5. Execute Market Programming Actions

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Product Positioning Using Perceptual Maps (Steps_

  1. Identify the important attributes for a product or brand class

  2. Discover how target consumers rate competitive products or brands with respective to these attributes

  3. Discover where the brand/product is on these attributes in the minds of potential consumers

  4. Reposition the company’s product or brand in the minds of potential customers

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Criteria to Use in Selecting Target Markets

Market Size, Expected Growth, Competitive Positioning, Cost of Reaching the Segment, Compatibility with the Organization’s Objectives and Resources