Topic:

Market segmentation and product positioning

Name: Mirza Ihsan Ullah Roll No: 7879

Market Segmentation

The breaking down or sub dividing of

market into distinct sub sets of customers

according to needs & habits is called

Market Segmentation

Bases for Segmentation

Geographic

Demographic

Psychographic

Bahavioural

(Region, City Size, Climate) ( Age,education,income, gender)

(Social class, personality)

(usage status, benefitssought, readiness stage )

If an organization want to use market penetration, development strategy

Identify right segment

Effective allocation of marketing resources

Why Market Segmentation

1. Measurable

2. Accessible

3. Differentiable

4. Profitable

5. Durable

Requirements for Effective Segmentation

1. Identify the market

2. Identify expectations of Target Audience

3. Create Subgroups

4. Review the behavior

5. Size of the Target Market

6. Name your market Segment

Steps in Market Segmentation

Product positioning

The process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization

To identify & focus on customer's perception

To make competitive advantage

To make customers loyal

Purpose of product positioning

Clarity

Consistency

Meaningful

Differentiating

Sustainable

Competitiveness

Criteria for successful positioning

1. Understand your target market

2. Identifying the Competitors 

3. Understand your competition

4. Analyze the gaps

5. Making the positioning Decision

6. Monitoring the position 

How to do positioning