segmentation, targeting & positioning
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Segmentation, Targeting & Segmentation, Targeting & Positioning: Building the Right Positioning: Building the Right Relationships with The Right Relationships with The Right
CustomersCustomers
Market SegmentationMarket Segmentation
Dividing a market into smaller Dividing a market into smaller groups of buyers distinct needs, groups of buyers distinct needs, characteristics, or behavior who characteristics, or behavior who might require separate products or might require separate products or marketing mixesmarketing mixes
Target Marketing & PositioningTarget Marketing & Positioning
Target MarketingTarget Marketing– The process of evaluating each market The process of evaluating each market
segment’s attractiveness and selecting segment’s attractiveness and selecting one or more segments to enterone or more segments to enter
Market PositioningMarket Positioning– Arranging for a product to occupy a Arranging for a product to occupy a
clear, distinctive, and desirable place clear, distinctive, and desirable place relative to competing products in the relative to competing products in the minds of target customersminds of target customers
Steps in Market STPSteps in Market STP
Market Market SegmentationSegmentation
Identify Bases for Identify Bases for Segmenting the Segmenting the marketmarket
Develop segment Develop segment ProfilesProfiles
Target MarketingTarget Marketing
Develop measure Develop measure of segment of segment attractivenessattractiveness
Select target Select target segmentssegments
Market Market PositioningPositioning
Identify Bases for Identify Bases for Segmenting the Segmenting the marketmarket
Develop segment Develop segment ProfilesProfiles
Major Segmentation Variables for Major Segmentation Variables for Consumer MarketsConsumer Markets
Geographic:Geographic:– World region or countryWorld region or country– Country regionCountry region– City or metro sizeCity or metro size– DensityDensity– ClimateClimate
Major Segmentation Variables for Major Segmentation Variables for Consumer Markets…(cont’d)Consumer Markets…(cont’d)
Demographic:Demographic:– AgeAge– GenderGender– Family sizeFamily size– Family life cycleFamily life cycle– IncomeIncome– OccupationOccupation– EducationEducation– ReligionReligion– RaceRace– GenerationGeneration– NationalityNationality
Major Segmentation Variables for Major Segmentation Variables for Consumer Markets…(cont’d)Consumer Markets…(cont’d)
PsychographicPsychographic– Social classSocial class– LifestyleLifestyle– PersonalityPersonality
BehavioralBehavioral– OccasionsOccasions– BenefitsBenefits– User statusUser status– Loyalty statusLoyalty status– Readiness stageReadiness stage– Attitude towards productsAttitude towards products
Multiple segmentation Basis:
• Combination of variables
•Re-segmenting to narrower sub-segment
Segmenting Business MarketsSegmenting Business Markets
Consumer and business markets use Consumer and business markets use many of same variables to segment many of same variables to segment their markets: G-D-P-Btheir markets: G-D-P-B
Additional variables:Additional variables:– Operating characteristicsOperating characteristics– Purchasing approachesPurchasing approaches– Situational factorsSituational factors– Personal characteristicsPersonal characteristics
Requirements for Effective Requirements for Effective SegmentationSegmentation
Measurable:Measurable:– Size, purchasing power and profilesSize, purchasing power and profiles
Accessible:Accessible:– Can effectively meet and servedCan effectively meet and served
Substantial:Substantial:– Large and profitable enoughLarge and profitable enough
Differentiable:Differentiable:– Response differently to different marketing mixResponse differently to different marketing mix
Actionable:Actionable:– Effective programs can be design for attracting Effective programs can be design for attracting
and serving the segmentsand serving the segments
Target MarketingTarget Marketing
Target market:Target market:– A set of buyers sharing common needs or characteristics A set of buyers sharing common needs or characteristics
that the company decides to servethat the company decides to serve
UndifferentiUndifferentiated (mass) ated (mass) marketingmarketing
DifferentiatDifferentiated ed
(segmented)(segmented) marketingmarketing
ConcentratConcentrated (niche) ed (niche) marketingmarketing
Micro Micro marketing marketing (local or (local or
individual)individual)
Target marketing StrategiesTarget marketing Strategies
Positioning for Competitive Positioning for Competitive AdvantageAdvantage
The company must decide what The company must decide what position it wants to occupyposition it wants to occupy
Marketers wants to develop unique Marketers wants to develop unique market position for their products market position for their products (POP & POD)(POP & POD)– Positioning MapPositioning Map
Developing Positioning StatementDeveloping Positioning Statement
Positioning statement:Positioning statement:– A statement that summarizes company A statement that summarizes company
or brand positioningor brand positioningVolvo: the safest, most durable wagon your family Volvo: the safest, most durable wagon your family can drivecan driveVisa : It’s Everywhere You Want to BeVisa : It’s Everywhere You Want to BeAxe : The axe effectAxe : The axe effect
– Format: To (target segment and need) our Format: To (target segment and need) our (brand) is (concept) that (point of difference)(brand) is (concept) that (point of difference)
– Take strong steps to deliver and communicate Take strong steps to deliver and communicate the the desired positiondesired position to the target market to the target market (marketing mix)(marketing mix)
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