SEGMENTATION,TARGETING, AND POSITIONING

STPSEGMENTATION,TARGETING,AND POSITIONING

BUILDING THE RIGHT RELATIONSHIP WITHRIGHT CUSTOMERS

MARKETA market refers to a set up where two or more parties are involved in transaction of goods and services in exchange of money. The two parties here are known as sellers and buyers.SEGMENTATIONDividing market into distinct groups with distinct needs , characteristics or behavior who might require separate products or marketing mix.

SEGMENTING CONSUMER MARKET

DIFFRENTIABLEACTIONABLEACCESSABLESUBSTENTIALMEASURABLE

TARGET MARKETINGOnce the marketer creates different segments within the market, he then devises various marketing strategies and promotional schemes according to the tastes of the individuals of particular segment. This process is called targeting. Once market segments are created, organization then targets them.

TARGET MARKETINGEVALUATING MARKET SEGMENTS SEGMENT SIZE AND GROWTH SEGMENT STRUCTUAL ATTRACTIVENESS-LEVEL OF COMPETION-SUBSTITUTE PRODUCT-POWER OF BUYERS-POWER OF SUPPLIERS COMPANY OBJECTIVES AND RESOURCES

TARGET MARKETINGTARGET MARKETING STRATEGIES

UNDIFFERENTIATED (mass) MARKETINGMass marketing is a market coverage strategy in which a firm decides to ignore market segment differences and appeal the whole market with one offer or one strategyDIFFERENTIATED (SEGMENTATED) MARKETINGCONCENTRATED (NICHE) MARKETINGMICROMARKETING (LOCAL OR INDIVIDUAL) MARKETING.

TARGET MARKETINGCHOOSING A TARGET MARKETING STRATEGRY REQURIES CONSIDERATION OF :

-COMPANY RESOURCES

-THE DEGREE OF PRODUCT VARIABILITY-PRODUCTS LIFE CYCLE STAGE-MARKET VARIABILITY-COMPETITORS MARKET STRAGEIES

TARGET MARKETSocially responsible targetingSome segments are at special risk-children-inner city minority consumers-internet shoppersControversy occurs when the method used are questionable.

positioningOnce the organization decides on its target market, it strives hard to create an image of its product in the minds of the consumers. The marketers create a first impression of the product in the minds of consumers through positioning.

positioning strategies

There are seven approaches to positioning strategies:Using Product characteristics or CustomerBenefitsas a positioning strategyPricingas a positioning strategyPositioning strategy based on Use or ApplicationPositioning strategy based on Product ProcessPositioning strategy based on Product Class

Positioning strategy Positioning strategy based on Cultural Symbols

Positioning strategy based on CompetitorsCONCLUSION