Market Segmentation: How to Do It and How to Profit from It PDF
Preview Market Segmentation: How to Do It and How to Profit from It
Market Segmentation ffirs 22August2012;17:2:44 ffirs 22August2012;17:2:44 Market Segmentation Howtodoitandhowtoprofitfromit Revised 4th Edition Malcolm McDonald and Ian Dunbar AJohnWiley&Sons,Ltd,Publication ffirs 22August2012;17:2:44 ª2012JohnWiley&Sons Registeredoffice JohnWiley&SonsLtd,TheAtrium,SouthernGate,Chichester,WestSussex,PO198SQ, UnitedKingdom Fordetailsofourglobaleditorialoffices,forcustomerservicesandforinformationabout howtoapplyforpermissiontoreusethecopyrightmaterialinthisbookpleaseseeour websiteatwww.wiley.com. Allrightsreserved.Nopartofthispublicationmaybereproduced,storedinaretrieval system,ortransmitted,inanyformorbyanymeans,electronic,mechanical,photocopy- ing,recordingorotherwise,exceptaspermittedbytheUKCopyright,DesignsandPat- entsAct1988,withoutthepriorpermissionofthepublisher. Wileypublishesinavariety ofprintandelectronicformatsandbyprint-on-demand. Somematerialincludedwithstandardprintversionsofthisbookmaynotbeincludedin e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com. Designationsusedbycompaniestodistinguishtheirproductsareoftenclaimedastrade- marks.Allbrandnamesandproductnamesusedinthisbookaretradenames,service marks,trademarksorregisteredtrademarksoftheirrespectiveowners.Thepublisheris notassociatedwithanyproductorvendormentionedinthisbook. Limit of Liability/Disclaimerof Warranty:Whilethepublisherandauthorhave used theirbesteffortsinpreparingthisbook,theymakenorepresentationsorwarrantieswith therespecttotheaccuracyorcompletenessofthecontentsofthisbookandspecifically disclaimanyimpliedwarrantiesofmerchantabilityorfitnessforaparticularpurpose.It issoldontheunderstandingthatthepublisherisnotengagedinrenderingprofessional services and neither the publisher nor the author shall be liable for damages arising herefrom.Ifprofessionaladviceorotherexpertassistanceisrequired,theservicesofa competentprofessionalshouldbesought. LibraryofCongressCataloging-in-PublicationData McDonald,Malcolm. Marketsegmentation:howtodoitandhowtoprofitfromit/MalcolmMcDonald andIanDunbar.—rev4thed. p.cm. Includesindex. ISBN978-1-118-43267-9(pbk.) 1. Marketsegmentation. I. Dunbar,Ian,1951- II. Title. HF5415.127.M3982013 658.8002—dc23 2012023996 AcataloguerecordforthisbookisavailablefromtheBritishLibrary. ISBN978-1-118-43267-9(paperback),ISBN978-1-118-43274-7(ebk) ISBN978-1-118-43275-4(ebk),ISBN978-1-118-43273-0(ebk) Setin10/12ptPalatinoRomanbyMPSLtd,Chennai,India PrintedinGreatBritainbyTJInternationalLtd,Padstow,Cornwall,UK ffirs 22August2012;17:2:44 Contents Foreword vii Prefaceandacknowledgements ix Animportantnotetothereaderfromtheauthors xi Listoffigures xv Listoftables xix 1 Marketsegmentation–thebedrockofsuccessfulmarketing 1 2 Preparingforsegmentation–additionalguidelines forsuccess 21 3 Fasttrackingthroughthesegmentationprocess 47 4 Determiningthescopeofasegmentationproject 71 5 Portrayinghowamarketworksandidentifying decision-makers 105 6 Developingarepresentativesampleofdifferent decision-makers 143 7 Accountingforthebehaviourofdecision-makers 213 8 Formingmarketsegmentsoutoflike-minded decision-makers 255 9 Determiningtheattractivenessofmarketsegments 303 10 Assessingcompanycompetitivenessandthe portfoliomatrix 329 11 Realizingthefullpotentialofmarketmapping 349 12 Predictingchanneltransformation 369 13 Settingmarketingobjectivesandstrategiesforidentified segments 407 14 Organizationalissuesinmarketsegmentation 449 15 Usingsegmentationtoimproveperformance–acasestudy 469 Index 481 ftoc 22August2012;17:4:0 ftoc 22August2012;17:4:0 Foreword In2004,LordMarshallofKnightsbridgeprovidedtheforewordbelow, which we have retained without amendment, as it encapsulates the spirit and substance of this, our latest 2012 edition of Market Segmentation. ’ ’ ’ Oneoftheabidingprinciplesofsoundbusinesspracticeis:‘Knowyour customer; know your market.’ The objective, of course, is to gain competitive advantage by building sustained customer loyalty, with products and services meeting, quite precisely, the demands of closely defined markets. As markets have become more complex, so has this essentially basic processofmarketsegmentation.Itistheviewofmanythat,inboththe manufacturing and service sectors, the art of defining target markets rarely progresses beyond the assembly of somewhat dull demo- graphics.Thelogicalconclusionisthat,ifeverybodyisdoingthesame, differential advantage is difficult to attain. Now,ProfessorMalcolmMcDonaldandIanDunbarhavepeeledaway thelayersofcomplexityandconfusiontoproduceastep-by-stepguide throughthedifficultterrainofmarketsegmentation.Thevalueoftheir book to business people everywhere, is that it offers the kind of prac- ticalapplicationsneededintoday’sintenselycompetitivemarketplace. Lord Marshall of Knightsbridge* Chairman, British Airways *Lord Marshall of Knightsbridge, businessman and airline executive, was born on 6 November1933anddiedon5July2012. fbetw 22August2012;14:46:25 fbetw 22August2012;14:46:25
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