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Lecture 5
Market Segmentation: The identification of individuals or organisations with similar
characteristics that have significant implications for the strategy
Why Segment the Market?
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Differentiation
Target market selection
Tailored marketing mix
Opportunities & threats

Psychographic Segmentation
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Divides a population into groups that have similar psychological characteristics, values &
lifestyles
Lifestyle: People’s decisions about how to live their daily lives, including family, job,
social & consumer activities e
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activities, work hobbies, family home, opinions, media,
age, education, income etc
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Maybe they’re afraid
of getting someone fired
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Maybe they don’t want to hurt
the feelings of the person asking the question
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That’s a gold mine of information for the
brand brave enough to look for it
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Positioning: A marketing strategy that aims to make a brand occupy a distinct position,
relative to competing brands, in the mind of the customer
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g
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Too much information can be as harmful as too little
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Marketing Information System
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Internal Data is gathered via customer databases, financial records, & operations reports
Advantages of internal data include quick/easy access to information
Disadvantages stem from incompleteness or inappropriateness of data to a particular
situation
Marketing intelligence is the systematic collection & analysis of publicly available
information about competitors & trends in the marketing environment
Competitive intelligence gathering activities have grown
Many sources of competitive information exist

Sources of Competitive Intelligence
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Company employees
Internet
Garbage
Published information
Competitor’s employees
Trade shows
Benchmarking
Channel members & key customers

Distributing Information
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Information is not helpful unless it is able to reach the managers clearly & in a timely
manner
Recent developments in information handling have led to a revolution in its distribution
Analysis of collected information can assist in distinguishing relationships between data
Help managers answer questions like ‘what if’ & ‘which is best’



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