Marketing Generations

MARKETING GENERATIONS

 Some definitions

1) Market Segmentation

The division of the total market into smaller, relatively homogeneous groups is called market segmentation.

Both profit-oriented and not-for-profit organizations practice market segmentation

Market segmentation is used to refine your product/services to better meet the needs/wants of a more narrow target market and thereby achieve greater sales and/or margins. Your ability to improve sales/margins using market segmentation will depend on the characteristics of your particular product/service and whether or not there are demand variables that can be successfully identified and exploited in demographic, geographic or psychographic terms.

2) Four Common Bases for Segmenting Consumer Markets

* Geographic Segmentation

* Demographic Segmentation

* Psychographic Segmentation

* Product-Related Segmentation

3) Segmentation: Four Basic Requirements

* Must present measurable purchasing power and size.

* Must find a way to promote effectively to and service the market segment.

* Must then identify segments that are sufficiently large to give them good profit potential.

* Must aim for segments that match its marketing capabilities.

As you might expect, demographic segmentation variables are amongst the most popular bases for segmenting customer groups.

 Demographic segmentation consists of dividing the market into groups based on variables such as age, gender family size, income, occupation, education, religion, race and nationality

 Marketing Generations is Demografic Segmentation based on age:y Cool PictConsumer needs and wants change with age although they may still wish to consumer the same types of product. So Marketers design, package and promote products differently to meet the wants of different age groups. Good examples include the marketing of toothpaste (contrast the branding of toothpaste for children and adults) and toys (with many age-based segments).

 Objectives:

Identify the essential components of a market slfkjsdogksltiMedia Presentations

Datas in developing a marketing strategy.

 Vietnam:

Vietnam has a large population of 83,689,518 (July 2005 est.), therefore, this is a large and atractive market.

Age structure: Vietnam is a country of young population

0-14 years: 29.4% (male 12,524,098; female 11,807,763)

15-64 years: 65% (male 26,475,156; female 27,239,543)

65 years and over: 5.6% (male 1,928,568; female 2,714,390)

(2004 est)

Marketing Generations in Vietnam can be devided as follows:

 Aged