Week 3 Assignment – Marketing Segmentation and Targeting

Learning Objectives Covered:

1. Discuss the correlation between market segmentation and market targeting

2. Describe the role each of the seven segmentations plays in consumer buying behavior

Background

In order to communicate effectively with customers, businesses must
know who it is that purchases their product. Rather than looking at all
customers as one big group, marketers break large groups into smaller
groups through market segmentation. Once segmented into smaller groups
that have similar characteristics, marketers can target one of these
small groups and create messages that resonate with the target audience.

There are a number of ways to segment a market, and each segmented
market can be broken down into smaller and smaller subgroups called
niche markets. There are seven ways that you can segment a market, these
include:

• Demographics like age, gender, ethnicity, income, religion.
• Life stages such as children, college students, singles, couples,
  families, families with children, empty nesters, senior singles.
• Geographic location based segmentation could be something like North
  or South by country or city, but it can also be the type of location
  like rural, urban, or suburban.
• Psychographic segmentation is based on work, leisure, interests, opinions, and peoples’ views of themselves.
• Behavioral segmentation divides users of the product based on their buying behavior, knowledge of or attitude toward the product
• Values based segmentation divides consumers into groups based on
  their value system such as hedonistic, spiritual, eco friendly, thrifty,
  etc.
• Benefits based segmentation is based on the consumers’ needs or
  problems that is driving the purchase of the product. Some food might be
  purchased based on taste and others might be purchased based on how
  healthy they are.

Using market segmentation allows marketers to select a target market.
By using market segmentation to group consumers, marketers can work to
understand the target market’s motivations, wants, and needs by using
surveys, focus groups, or by analyzing data based on the target market’s
purchase and other behaviors.

Prompt

In this Assignment you will create a presentation profiling seven
different ways you could segment a market. The goal of your presentation
is to describe to a potential client how they can understand their
target market. Remember, when a client understands their target market
better, their marketing is more likely to work.

Presentation Requirements
Create your presentation in PowerPoint. Use photos along with text in your presentation to both show and tell the information.

Follow this slide outline for your presentation:

Slide 1: Title
Presentation title, Name, Date

Slide 2: Demographics
1. Definition of demographics
2. Possible places/resources one could use to find demographic details

Slide 3: Life Stage
1. Definition of life stage
2. Reason(s) why life stage is important to identify

Slide 4: Geographic Location
1. Definition of geographic stage segmentation
2. Possible ways audience could be segmented

Slide 5: Psychographic Segmentation
1. Definition of psychographic segmentation
2. Possible ways you could gather psychographic data

Slide 6: Behavioral Segmentation
1. Definition of behavioral segmentation
2. Advantages and disadvantages of behavioral segmentation

Slide 7: Values Segmentation
1. Definition of values segmentation
2. Four common value segment examples

Slide 8: Benefits Segmentation
1. Definition of benefits segmentation
2. Four common benefits that drive marketing and consumer purchasing

Slide 9: References
1. Provide two content research references in the form of an IWG citation
2. Provide all images references in the form of a website link

File Naming + Submission Instructions

• Save your presentation as: MAN230_Assignment3_FirstLast.pptx
• Submit your PowerPoint presentation for this Assignment.