segmentation, targeting & positioning of market products
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SEGMENTATION, TARGETING & POSITIONING-
MARKET ANALYSIS
PRESENTED TO : MR. VIJAY REGO PRESENTED BY : FAIZA MOHSIN
MBA 2ND SEMST’HOPKINS COLLEGE
STEPS IN MARKET SEGMENTATION,TARGETING & POSITIONING
Market segmentation: dividing market into distinct groups which will require separate marketing mixes
Target marketing: choosing which group(s) to appeal to
Market positioning: creating a clear, distinctive position in the consumer’s mind relative to competition.
SEGMENTATION
Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target their needs and desires using media channels and other touch-points that best allow to reach them.
DEMOGRAPHIC SEGMENTATION
High Income Group Medium Income Group Low Income Group Age Gender Occupation & Religion
TARGETING
Targeting is the actual selection of the segment you want to serve the customers. The target market is the group of people or the organizations whose products are specifically designed to satisfy.
EVALUATING MARKET SEGMENTS
Size. Expected Growth. Competitive Position. Cost to Reach. Compatibility.
TARGET STRATEGIES
Undifferentiated Mass Marketing. Differentiated Segmented Marketing. Concentrated Niche Marketing. Micromarketing (Local or Individual).
POSITIONING A product positioning is a way a product is defined by the
consumers on important attributes- the place the product occupies in consumers mind relative to competing products.
Positioning Maps In planning their differentiation and positioning
strategies, marketers often prepare perceptual positioning maps, which show consumer perceptions of their brands versus competing products on important buying dimensions.
Positioning Statement A statement that summarizes company or brand
positioning
CONCLUSION
A company has to choose among those market segments and build products suitable for the chosen segments. Customers have to be aware that the products recognize their needs, so positioning is important for the success of such strategic decision.
Kotler on Marketing “ Segment the market but more focus on targeting and positioning.”
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