Consumer Market Segmentation: Baby Boomers

Displaying the location of products or brands in customers' minds, often on a graph.

Product feature, customer benefit, price, use or application, product user, product class, competitor, or emotion.

This strategy emphasizes that a high price signals high quality to consumers.

Focuses on communicating the specific uses or applications of a product to appeal to target customers.

This positioning base centers on the personality or type of consumer who typically uses the product.

High price can signal quality, exclusivity, or superior value to customers.

To understand how consumers perceive their brand relative to competitors.

Effectively positions a product by highlighting its various uses or applications to target consumers.

It stresses quality at a reasonable cost, appealing to value-conscious customers.

Concentrates on a specific type or profile of user, creating a connection.

To ensure marketing efforts are efficient by effectively reaching relevant consumer groups.

More variables allows for a more precise understanding of the consumer.

Creating segments that are large enough to be profitable and can be measured.

Less secondary data available, and can be more complex to implement.

The individual segments become smaller.

Relevant secondary data are often not available.

A strategy selecting two or more well-defined market segments and creating a specific marketing mix for each.

Compare costs/benefits vs. undifferentiated & concentrated targeting.

Higher sales, profits, market share, and scale economies.

The introduction of a new product reduces the sales of existing products.