CHAPTER 7



CHAPTER 7

Target Markets: Segmentation and Evaluation

Chapter Outline

I. What Is a Market?

A. Requirements of a Market

B. Types of Markets

II. Target Market Selection Process

A. Step 1: Identify the Appropriate Targeting Strategy

1. Undifferentiated Strategy

2. Concentrated Strategy Through Market Segmentation

3. Differentiated Strategy Through Market Segmentation

B. Step 2: Determine Which Segmentation Variables to Use

1. Variables for Segmenting Consumer Markets

2. Variables for Segmenting Business Markets

C. Step 3: Develop Market Segment Profiles

D. Step 4: Evaluate Relevant Market Segments

1. Sales Estimates

2. Competitive Assessment

3. Cost Estimates

E. Step 5: Select Specific Target Markets

III. Developing Sales Forecasts

A. Executive Judgment

B. Surveys

C. Time Series Analysis

D. Regression Analysis

E. Market Tests

F. Using Multiple Forecasting Methods

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