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8.- Segmentation, Part 2

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Marketing: Customer Needs and Wants

IESE Business School

4.4 (184 calificaciones) | 9.2K estudiantes inscritos

Curso 3 de 5 en Foundations of Management Programa Especializado

Understanding who your customers are and what they need and want is at the heart of successful marketing strategies. In this course you will explore how to identify and classify customers and the different methods that marketing professionals use to shed light on how they make purchase decisions. The course will cover the following: 1. Marketing Fundamentals 2. Product, Pricing and Channel Decisions 3. Building Strong Brands 4. Communication Strategy

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4.4 (184 calificaciones)

5 stars
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MP

Mar 09, 2018

Content wise its very rich and a good course for marketing student...must learn from this course.

AA

Nov 18, 2016

The course is well detailed thought by well vast and experience teacher in Mario Capizzani.

De la lección

Course Overview & Week 1

Welcome! Before you start today's videos, please have a look at the syllabus. In this first session, I'll give you an overview of what marketing is all about and why it's key to communicating a company’s value proposition. You’ll also get a grasp of marketing essentials, particularly how to frame challenges and what to think about when making decisions. Objectives: To gain insight into the basic pillars of marketing.

1.- Course Outline2:15

2.- Week 1 Overview3:51

3.- Framing Marketing Challenges, Part 14:45

4.- Framing Marketing Challenges, Part 26:30

5.- The Marketing Process, Part 16:29

6.- The Marketing Process, Part 24:47

7.- Segmentation, Part 14:40

8.- Segmentation, Part 23:55

9.- Segmentation Part 35:40

10.- Segmentation Part 42:55

11.- Marketing Research, Part 17:36

12.- Marketing Research, Part 25:37

13.- Marketing Research, Part 34:04

14.- Targeting and Positioning, Part 16:18

15.- Targeting and Positioning, Part 25:28

Impartido por:

Mario Capizzani
Lecturer

[MUSIC]

And even more sophisticated basis for segmentation is a need base segmentation.

A need base segmentation try to address what are the priorities, the barriers,

to purchase the key buying factors on why a person decides to

purchase this product, or hire this service instead of another one.

Think of for example airlines, airlines try to segment customers on a need base.

Think of business travelers that for example, maybe looking to pay high

purchase items because they absolutely need to get a good night's sleep

on a transatlantic flight versus coach passengers, which are just looking to

simply for the most cost effective way to get from point A to point B.

So airlines will segment on a need base segmentation.

Finally, there is a psychographic basic for segmenting customers.

This is perhaps the most sophisticated way of segmenting customers.

This basis for segmentation aims to find out about the passions,

the values, the attitudes, or even the appetite for risk or

what detonates or triggers emotional connections with customers.

For example, Nestle Purina, the leading company in the world for pet food,

typically tends to segment cat owners based on psychographic profiles.

They tried to determine what is the level of connection, or the meaning or

the relationship between an owner and its pet.

And they try to position different products at different price points and

in different channels, even with different brands,

to try to address those different psychographic profiles of consumers.

So obviously there are trade offs between these four forms or

four basis for segmentation.

So let me show you what are the main trade offs.

The best way to understand them has to do with ease of implementation and

the depth of the insights we are getting.

The insights and implementation, the easiest to implement and

acquire, the data is the social demographic segmentation.

And the hardest one is the psychographic as we've stated before.

But the depth of the insights are much richer with the psychographics than with

the demographic based segmentation and

the behavior and need based segmentation lie somewhere in between.

So we need to understand that what are essentially are the trade-off,

what's the viability of using

one type of segmentation versus another kind of segmentation.

Because at the end of the day, any sort of segmentation, for it to be useful,

it needs to satisfy three principles.

First of all, it has to help me identify a particular and

homogenous set of customers and identify how much they're worth.

Because a term obviously needs to decide how much are they willing

to invest in this particular set of segments.

But in addition, it has to identify a specific customer needs so

that you're able to design a unique value proposition to them and

that the segmentation should also be able to help you design

the positioning of the product for that specific customer segment group.

And last, but not least, he has to provide a clue for

how best to serve those customers.

Any particular set of customers preferred to buy in a certain location or

preferred to buy in a certain way, or preferred to pay in a certain way.

So a useful segmentation has to be able to give you some clue as to

how best to address a specific customer segment.

[MUSIC]

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