Science computer in mathematics, Cheat Sheet of Computer science

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Market

Segmentation Mrs. Joane P. Cortado, LPT

TREY

• Discuss the

concept of

market

segmentation

and

• Identify

approaches in

segmenting the

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TREY Nature and Concepts

• (^) The entrepreneur must acquire the required competency to gain competitive advantage. He/She must
• (^) 1. understand fully and practice correctly the concepts and principles of Add a footer 4

TREY Nature and Concepts

• (^) 2. Develop the character traits common among successful entrepreneurs; and
• (^) 3. enhance the cognitive, technical, and interpersonal skills required in the practice of Add a footer 5

TREY Nature and Concept

• (^) 3. Estimated cost

of the business

venture

• (^) 4. Expected

growth of the

industry where

the proposed

business venture

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TREY Nature and Concept

• (^) 5. Position of the

proposed

business in the

industry

• (^) 6. Business

competency

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TREY

• (^) Why there is a

need for the

entrepreneur to

clearly identify

and define the

customers of

his/her proposed

business venture?

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TREY

• (^) When the product

is produced to

exploit business

opportunity, it is

designed

especially for the

defined market.

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TREY Market Segmentation

• (^) Is an

entrepreneurial

marketing strategy

designed primarily

to divide the market

into small segments

with distinct needs,

characteristics, or

behavior (Kotler &

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TREY

• (^) The entire market

is composed of

different

segments with

various

characteristics,

behavior, culture,

traditions and

needs.

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TREY Demographic segmentation

• (^) In demographic segmentation, the market is divided based on the demographic variables of the consumers.
• (^) 1. Gender
• (^) 2. Age
• (^) 3. Income
• (^) 4. Occupation
• (^) 5. Education
• (^) 6. Religion
• (^) 7. Ethnic group
• (^) 8. Family size Add a footer 16

TREY Geographic segmentation

• (^) In geographic segmentation the total market is divided according to geographical locations in the Philippines like provincial regions, cities, provinces, municipalities, and even barangay units. Add a footer 17

TREY Psychological Segmentation

• (^) In psychological segmentation the market is divided in terms of what the customers think and believe. It is based on the following variables:
• (^) 1. Needs and wants
• (^) 2. Attitude
• (^) 3. Social class
• (^) 4. Personality traits
• (^) 5. Knowledge and awareness
• (^) 6. Brand concept
• (^) 7. Lifestyle Add a footer 19

TREY Psychological Segmentation

• (^) Manufacturers of branded pants and shirts usually segment the total market based on brand concept and only serve the customers who are brand conscious. They do not serve the needs and wants of customers in the population who are not Add a footer (^) conscious about the 20