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media and distribution channels Presented by Zhou Yanfeng Business School, Zhongshan University 6 Market Segmentation: Levels of Market Segmentation Segment Marketing Presented by Zhou Yanfeng Business School, Zhongshan University 7 Levels of Market Segmentation: Segmented Marketing ? Marketing recognizes buyers differ in needs, perceptions, and buying behaviours ? Isolate broad segments prising a market ? Adapt offers to best match segment needs ? Market more efficiently and effectively ? More focus and less petition Presented by Zhou Yanfeng Business School, Zhongshan University 8 Market Segmentation: Levels of Market Segmentation Niche marketing Presented by Zhou Yanfeng Business School, Zhongshan University 9 Levels of Market Segmentation: Niche Marketing ? Marketing that focuses on subgroups within large identifiable groups in a market ? Dividing a segment into subsegments ? Defining group with distinctive set of traits seeking special bination of benefits ? Price premium ? Few or no significant petitors ? Improves focus of limited resources Presented by Zhou Yanfeng Business School, Zhongshan University 10 Market Segmentation: Levels of Market Segmentation Micromarketing Presented by Zhou Yanfeng Business School, Zhongshan University 11 Levels of Market Segmentation: Micromarketing ? Tailoring products and marketing programs to suit the tastes of specific individuals or locations ? Local marketing ? Local tailoring of brands and promotions ? Overes regional differences ?