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Transcript of Marketing For BANK PO/ MBA/BBA & other Competitive Exams Bajaj Coaching Center, Rohtak Visit...
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Marketing For BANK PO/ MBA/BBA & other Competitive Exams
Bajaj Coaching Center, Rohtak
Visit bcc2000.com for more Information
![Page 2: Marketing For BANK PO/ MBA/BBA & other Competitive Exams Bajaj Coaching Center, Rohtak Visit bcc2000.com for more Information.](https://reader037.fdocuments.net/reader037/viewer/2022110116/5519c58b550346443e8b4656/html5/thumbnails/2.jpg)
Segmentation, Targeting & Positioning
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Overview: Segmentation, Targeting & Positioning
Why do this?
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Market Segmentation - Principles• Segmentation Variables– Geographic– Demographic– Psychographic– Behavioral – Other (anything!)
• No single best way to segment a market.• Often best to combine variables and identify smaller,
better-defined target groups.
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Geographic Segmentation
• Divide markets into different geographic units.
• Examples:– World Region or Country: North America, Western
Europe, European Union, Pacific Rim, Mexico, etc.– Country Region: Pacific, Mountain, East Coast, etc. – City or Metro Size: New York, San Francisco– Population Density: rural, suburban, urban– Climate: northern, southern, tropical, semi-tropical
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Demographic Segmentation
• Use Differences in:– age, gender, family size, family life cycle, income,
occupation, education, race, and religion
– Most frequently used segmentation variable• Ease of measurement and high availability.
– Usually the worst variable to use.
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Psychographic Segmentation
Psychographic segmentation divides a market into different groups based on social class, lifestyle,or personality characteristics.
People in the same demographic classification often have very different lifestyles and personalities.
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Behavioral Segmentation
• Occasion– Special promotions &
labels for holidays.– Special products for
special occasions.
• Benefits Sought– Different segments
desire different benefits from the same products.
• Loyalty Status – Nonusers, ex-users,
potential users, first-time users, regular users.
• Usage Rate – Light, medium, heavy.
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Requirements for Effective Segmentation
Segments must be
– Measurable– Accessible– Substantial– Differentiable– Actionable
“Lefties” are hard to identify and measure, so few firms target this segment.
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Targeting Segments - Overview
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Niche Marketing
– Targets one or a couple small segments– Niches have very specialized interests
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Micromarketing• Tailoring products and marketing programs to suit
the tastes of specific individuals and/or locations.
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Positioning
The place a product occupies in consumers’ minds relative to competing products.
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eBay’s positioning: No matter what “it” is, you can find “it” on eBay!
Positioning Example
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To (target segment and need) our (brand) is a (concept) that (point-of-difference).
Positioning Example
“To busy mobile professionals who need to always be in the loop, Blackberry is a wireless connectivity solution that allows you to stay connected to people and resources while on the go more easily and reliably than the competing technologies.”
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Sources of Differentiation
– Product Design– Quality– Additional Services – Image– People (Staff)– Price– Other