Chap 5 focusing on the customer
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CHAPTER 5: Focusing on the Customer 209
Chapter 5
Focusing on the Customer
A. Identify Markets to Serve (TM 5-1)
B. Concept of Need (TM 5-2)
C. Market Emergence
1. Meaning of Market Emergence (TM 5-3)
2. Market Potential (TM 5-4)
3. Method of Measuring Market Potential (TM 5-5)
D. Market Boundary
1. Dimentions of Market Boundary (TM 5-6)
2. Determining Market Boundaries: An Example (TM 5-7)
3. Market Evolution in Three Dimensions (TM 5-8)
E. Served Market
1. Factors Influencing Served Market Decision (TM 5-9)
2. Approaches for Choosing Served Market (TM 5-10)
3. Defining Served Market: An example (TM 5-11)
4. Served Market Alternatives (TM 5-12)
F. Segmentation
1. Bases for Customer Segmention (TM 5-13)
2. Choosing Segmentation Criterion (TM 5-14)
3. Conditions for Judging Selected Segments (TM 5-15)
4. Micromarketing (TM 5-16)
210 CHAPTER 5: Focusing on the Customer
5-1
IDENTIFYING MARKETS TO
SERVE
CHAPTER 5: Focusing on the Customer 211
5-2
CONCEPT OF NEED
• Physiological
• Safety
• Belongingness
• Self-esteem
• Self-actualization
212 CHAPTER 5: Focusing on the Customer
5-3
MEANING OF MARKET EMERGENCE
Customer need gives rise to a market opportunity,
and a market emerges. To judge the worth of this,
market potential becomes important.
CHAPTER 5: Focusing on the Customer 213
5-4
MARKET POTENTIAL
Market potential is the total demand for a product
in a given environment.
214 CHAPTER 5: Focusing on the Customer
5-5
METHODS OF MEASURING
MARKET POTENTIAL
• Break-down methods
• Build-up methods
CHAPTER 5: Focusing on the Customer 215
5-6
DIMENSIONS OF MARKET BOUNDARY
• Technology
• Customer function
• Customer segment
• Level of production/distribution
216 CHAPTER 5: Focusing on the Customer
5-7
DETERMINING MARKET BOUNDARIES:
AN EXAMPLE
PERSONAL FINANCIAL TRANSACTIONS
5-8
CHAPTER 5: Focusing on the Customer 217
MARKET EVOLUTION IN THREE
DIMENSIONS
Customer
Functions
Customer
Functions
Customer
Groups
Alternative
Technologies
Customer
Groups
Alternative
Technologies
Adoption and Diffusion Extension to New Customer Groups
Systematization – Extension to
New Customer Functions
Customer
Functions
Customer
Groups
Alternative
Technologies
Technological Substitution Extension to New Technologies
218 CHAPTER 5: Focusing on the Customer
5-9
FACTORS INFLUENCING SERVED
MARKET DECISION
• Perceptions of which product function and technology
groupings can best be protected and dominated.
• Internal resource limitations that force a narrow
focus.
• Cumulative trial-and-error experience in reacting to
threats and opportunities.
• Unusual competencies stemming from access to
scarce resources or protected markets.
CHAPTER 5: Focusing on the Customer 219
5-10
APPROACHES FOR CHOOSING SERVED
MARKET
I. Breadth of Product Line
A. Specialized in terms of technology, broad range of
product uses
B. Specialized in terms of product uses, multiple
technologies
C. Specialized in a single technology and a narrow range of
product uses
D. Broad range of (related) technologies and uses
E. Broad vs. narrow range of quality/price levels
II. Types of Customers
A. Single customer segment
B. Multiple customer segments
1. Undifferentiated treatment
2. Differentiated treatment
III. Geographic Scope
A. Local or regional
B. National
C. Multinational
IV. Level of Production/Distribution
A. Raw or semi-finished materials or components
B. Finished products
C. Wholesale or retail distribution
220 CHAPTER 5: Focusing on the Customer
5-11
DEFINING SERVED MARKET: AN EXAMPLE
Consumer
Market
Industrial
Military
Gas-driven
Snowmobiles
Technology
Diesel-driven
Snowmobiles
Electric-driven
snowmobiles
(a) Technology / Market Matrix
Consumer
Customer Use
Industrial
Military
Large
Customer Size
Medium
Small
(b) Customer Use / Customer Size Matrix
Source: Philip Kotler, “Strategic Planning and the Marketing Process,” Business, May-June 1980,
pp. 6-7. Reprinted by permission of the author.
CHAPTER 5: Focusing on the Customer 221
5-12
SERVED MARKET ALTERNATIVES
• Product/market concentration
• Product specialization
• Market specialization
• Selective specialization
• Full coverage
222 CHAPTER 5: Focusing on the Customer
5-13
BASES FOR CUSTOMER
SEGMENTATION
A. Consumer Markets
1.
2.
3.
4.
5.
6.
7.
Demographic factors (age, income, sex, etc.)
Socioeconomic factors (social class, stage
in the family life cycle)
Geographic factors
Psychological factors (lifestyle,
personality traits)
Consumption patterns (heavy, moderate, and
light users)
Perceptual factors (benefit segmentation,
perceptual mapping)
Brand-loyalty patterns
B. Industrial Markets
1.
2.
3.
4.
5.
End-use segments (identified by SIC code)
Product segments (based on
technological differences or production
economics)
Geographic segments (defined by boundaries between countries or by regional
differences within them)
Common buying factor segments (cut across
product/market and geographic segments)
Customer size segments
CHAPTER 5: Focusing on the Customer 223
5-14
CHOOSING SEGMENTATION CRITERION
• Identify potential customers and the nature of their
needs.
• Segment all customers into groups having:
– Common requirements.
– The same value system with respect to the
importance of these requirements.
• Determine the theoretically most efficient means of
serving each market segment, making sure that the
distribution system selected will differ-entiate each
segment from all others with respect to cost and
price.
• Adjust this ideal system to the constraints of the real
world: existing commitments, legal restric-tions,
practicality, and so forth.
224 CHAPTER 5: Focusing on the Customer
5-15
CONDITIONS FOR JUDGING
SELECTED SEGMENT
• Should be one in which the maximum differential in
competitive strategy can be developed.
• Must be capable of being isolated so that the
competitive advantage can be preserved.
• Must be valid, even though imitated.
CHAPTER 5: Focusing on the Customer 225
5-16
MICROMARKETING
Micromarketing or segment-of-one marketing refers
to trimming down the segment to smaller subsegments, even to an individual. Micromarketing
combines information retrieval and service delivery.
It requires:
• Knowing the customers.
• Making what they want.
• Using targeted and new media.
• Using non-media.
• Reaching customers in the store.
• Sharpening promotions.
• Working with retailers.
