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Market Segmentation: How to Do It and How to Profit from It, Revised and updated 4th Edition

Book Description

Market Segmentation: How to do it and how to profit from it, revised and updated 4th Edition is the only book that spells out a totally dispassionate, systematic process for arriving at genuine, needs-based segments that can enable organizations to escape from the dreay, miserable, downward pricing spiral which results from getting market segmentation wrong.

Nothing in business works unless markets are correctly defined, mapped, quantified and segmented. Why else have hundreds of billions of dollars been wasted on excellent initiatives such as TQM, BPR, Balanced Scorecards, Six Sigma, Knolwedge Management, Innovation, Relationship Marketing and, latterly, CRM? The answer, of course, is because of a structured approach to market segmentation.

Market Segmentation: How to do it and how to profit from it, revised and updated 4th Edition provides a structured, no-nonsense approach to getting market segmentation right. It is an essential text for professionals and students based on a wealth of practical experience and packed with examples and easily used checklists.

Table of Contents

  1. Cover
  2. Contents
  3. Title
  4. Copyright
  5. Foreword
  6. Preface and acknowledgements
  7. An important note to the reader from the authors
  8. List of figures
  9. List of tables
  10. Chapter 1: Market segmentation – the bedrock of successful marketing
    1. Perception is everything
    2. The state of marketing
    3. The central role of market segmentation
    4. Segmentation process summary
    5. Marketing objectives and strategies
    6. Chapter 1 review
    7. References
  11. Chapter 2: Preparing for segmentation – additional guidelines for success
    1. Objective of this book
    2. Segmentation archetypes in companies
    3. Classifying market segmentation in organizations
    4. Organizational structure
    5. The ‘postmodern’ customer
    6. International market segmentation
    7. Segmentation team
    8. Data for segmentation
    9. Rules for segmentation
    10. The advantages of segmentation
    11. Segmentation case histories
    12. Chapter 2 review
    13. References
  12. Chapter 3: Fast tracking through the segmentation process
    1. Process structure
    2. Phase 1 – Developing segments
    3. Phase 2 – Prioritizing and selecting segments
    4. Chapter 3 review
  13. Chapter 4: Determining the scope of a segmentation project
    1. Geographic scope
    2. Defining markets
    3. Sizing the specified market
    4. Process check
    5. Further examples
    6. Exercises
    7. Reference
  14. Chapter 5: Portraying how a market works and identifying decision-makers
    1. Constructing your market map
    2. Market leverage points
    3. Selecting the junction to be segmented
    4. Testing current views about segments: preliminary segments
    5. Process check
    6. Further examples
    7. Exercises
  15. Chapter 6: Developing a representative sample of different decision-makers
    1. The components of a ‘micro-segment’
    2. Developing micro-segments
    3. Key discriminating features (KDFs)
    4. Profiling and ensuring it is practical
    5. Process check
    6. Further examples
    7. A selection of standard approaches to profiling businesses
    8. A selection of standard approaches to profiling individuals
    9. Multidimensional
    10. Exercises
  16. Chapter 7: Accounting for the behaviour of decision-makers
    1. Explaining customer behaviour
    2. Micro-segments and their decisive buying criteria (DBCs)
    3. Benefit analysis – essential input to successful marketing
    4. Techniques for uncovering unsatisfied needs
    5. Addendum for those intending to test the validity of a current structure of strategic business units (SBUs)
    6. Process check
    7. Further examples
    8. Exercises
    9. References
  17. Chapter 8: Forming market segments out of like-minded decision-makers
    1. The components of a market segment
    2. Building micro-segments into market segments – clustering
    3. Segment checklist
    4. Process check
    5. Further examples
    6. Exercises
    7. References
  18. Chapter 9: Determining the attractiveness of market segments
    1. Portfolio analysis
    2. Segment attractiveness
    3. Plotting the position of segments on the portfolio matrix
    4. Process check
    5. Examples
    6. Exercises
    7. References
  19. Chapter 10: Assessing company competitiveness and the portfolio matrix
    1. Company competitiveness
    2. Producing the portfolio matrix
    3. The directional policy matrix
    4. Process check
    5. Examples
    6. Exercises
  20. Chapter 11: Realizing the full potential of market mapping
    1. Enhancing the information on your market map
    2. Chapter 11 review
    3. Examples
  21. Chapter 12: Predicting channel transformation
    1. Multichannel strategy formulation
    2. Future market mapping: analysing industry structure
    3. Multichannel integration: channel chains
    4. Channel choice: the channel value curve
    5. The prioritization matrix: defining channel strategy
    6. Determining channel tactics
    7. Chapter 12 review
    8. Exercises
    9. References
  22. Chapter 13: Setting marketing objectives and strategies for identified segments
    1. Marketing objectives: what they are and how they relate to corporate objectives
    2. How to set marketing objectives
    3. Competitive strategies
    4. Where to start – gap analysis
    5. New product development
    6. Marketing strategies
    7. Marketing in a downturn
    8. Marketing objectives, strategies and profitability – valuing key market segments
    9. Chapter 13 review
    10. Exercises
    11. References
  23. Chapter 14: Organizational issues in market segmentation
    1. Segmentation as a company exercise
    2. Successful implementation of segmented marketing
    3. Bringing segments to life
    4. Chapter 14 review
    5. Reference
  24. Chapter 15: Using segmentation to improve performance – a case study
    1. GlobalTech
  25. Index