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    Chapter 3 - Target Marketing

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    evanaann
    This document discusses market segmentation, targeting, and positioning. It begins by defining segmentation as dividing a market into distinct groups based on needs, characteristics, or behaviors. Targeting involves evaluating each segment's attractiveness and selecting segments to enter. Positioning sets the competitive positioning for a product and develops the marketing mix for each target segment. The document then provides details on segmenting based on geographic, demographic, psychographic, and behavioral factors for both consumer and business markets. It discusses evaluating and selecting target segments and choosing a market coverage strategy. Finally, it defines positioning, discusses positioning strategies, and outlines the process for identifying, selecting, communicating, and adapting a competitive positioning.

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    Chapter 3 - Target Marketing

    Uploaded by

    evanaann
    147 views11 pages
    This document discusses market segmentation, targeting, and positioning. It begins by defining segmentation as dividing a market into distinct groups based on needs, characteristics, or behaviors. Targeting involves evaluating each segment's attractiveness and selecting segments to enter. Positioning sets the competitive positioning for a product and develops the marketing mix for each target segment. The document then provides details on segmenting based on geographic, demographic, psychographic, and behavioral factors for both consumer and business markets. It discusses evaluating and selecting target segments and choosing a market coverage strategy. Finally, it defines positioning, discusses positioning strategies, and outlines the process for identifying, selecting, communicating, and adapting a competitive positioning.

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    Marketing Segmentation. Targeting and Positioning

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    This document discusses market segmentation, targeting, and positioning. It begins by defining segmentation as dividing a market into distinct groups based on needs, characteristics, or behaviors. Targeting involves evaluating each segment's attractiveness and selecting segments to enter. Positioning sets the competitive positioning for a product and develops the marketing mix for each target segment. The document then provides details on segmenting based on geographic, demographic, psychographic, and behavioral factors for both consumer and business markets. It discusses evaluating and selecting target segments and choosing a market coverage strategy. Finally, it defines positioning, discusses positioning strategies, and outlines the process for identifying, selecting, communicating, and adapting a competitive positioning.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    147 views11 pages

    Chapter 3 - Target Marketing

    Uploaded by

    evanaann
    This document discusses market segmentation, targeting, and positioning. It begins by defining segmentation as dividing a market into distinct groups based on needs, characteristics, or behaviors. Targeting involves evaluating each segment's attractiveness and selecting segments to enter. Positioning sets the competitive positioning for a product and develops the marketing mix for each target segment. The document then provides details on segmenting based on geographic, demographic, psychographic, and behavioral factors for both consumer and business markets. It discusses evaluating and selecting target segments and choosing a market coverage strategy. Finally, it defines positioning, discusses positioning strategies, and outlines the process for identifying, selecting, communicating, and adapting a competitive positioning.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    Chapter 3:

    Segmentation,
    Targeting, Positioning

    Segmentation, Targeting, &


    Positioning:
    Market Segmentation
    Divide a mkt into distinct groups with different
    needs, characteristics, or behviours.

    Market Targeting
    Evaluate each mkt segments attractiveness
    select one or more of the segments to enter.

    Market Positioning
    Set the competitive positioning for the product
    Develop mktg mix for each target segment.

    1.0 Market Segmentation:


    Bases for Segmenting Consumer
    Markets
    Geographic:
    Nations, states, regions or cities.
    Demographic:
    Age, gender, family size & life cycle, or income
    Psychographic:
    Social class, lifestyle, or personality.
    Behavioural:
    Occasions, benefits, status, usage, or loyalty.

    1.0 Market Segmentation:


    Segmenting Business Markets
    Demographics:
    Industry, Company Size, & location
    Operating Characteristics:
    Technology, User/nonuser status
    Purchasing Approaches:
    Power structure, relationship, criteria
    Situational Factors:
    Urgency, Specific application, size of order
    Personal Characteristics:
    Buyer-seller similarity, Risk-taking, loyalty

    1.0 Market Segmentation:


    Segmenting International Markets
    Geographic :
    Regions, Pacific Rim (Differ cuturally & economically)
    Economic:
    Group by population income levels or econ. developmt.
    Legal :
    Stability of governmt, monetary policy, & bureaucracy
    Cultural :
    Languages, religions, attitudes, & customs.
    Intermarket:
    Form segments with similar needs & buying behaviour

    1.0 Market Segmentation:


    Requirements for Effective Segmentation
    Measurable :
    Size, purchasing power, profiles of segments.
    Accessible:
    Must be effectively reached & served.
    Substantial:
    Must be large or profitable enough to serve
    Differential:
    Must respond differently to different mktg mix
    elements
    Actionable:
    Must be able to attract & serve the segments.

    2.0 Market Targeting:


    Evaluating Market Segments
    Size & Growth:
    Analyse sales, growth rates &profitability
    Structural Attractiveness
    Competitors, substitute, power of buyer
    Comps Objs & Resources :
    Skills & resources, competitive Advantage

    2.0 Market Targeting:


    Selecting Market Segments
    Undifferentiatied Marketing
    Go after the whole mkt, ignore mkt segment
    differences
    Cost economies, BUT heavy competition
    Differentiated Marketing
    Target several mkt segments & designs
    separate offers for each...
    Cost more: R&D, forecasting, analysis,
    promotion, channel

    2.0 Market Targeting:


    Selecting Market Segments (cont):
    Concentrated Marketing (Specialise in..)
    Goes after a large share of one or a few submkts
    (Niche)
    High risk; larger competitor; technology urges mass
    mkters
    Choosing a Market-Coverage Strategy
    Company resources
    Degree of Product Variability
    Products stage of life cycle
    Market Variability
    Competitors marketing strategy

    3.0 Positioning for Competitive


    Advantage
    What is Market Positioning?
    Defined by consumers on important attributes.
    Perceptions, impressions, & feelings that one holds for
    things
    Positioning Strategies
    Product Attributes (BMW - Performance; Benz-Luxury)
    Usage Occasions
    Classes of Users (J&J baby shampoo - Children & Adults)
    Against a Competitors (Citibank card VS. American
    Express)
    Away from Competitors (7-Up positions itslef as UnCola)
    Product Classes (Margarines VS. Butter, Cooking Oils)

    3.0 Positioning
    A. Identify Possible
    Competitive Advantage

    B. Select the Right


    Competitive Advantage

    Product Differentiation

    Unique Selling Proposition

    Services Differentiation
    Personnel Differentiation
    Image Differentiation

    Underpositioning
    Overpositioning
    Confused Positioning

    D. Communicating the
    Chosen Position

    C. Differences
    to Promote

    Deliver the Position


    Design Mktg Mix
    Monitor & Adapt over the time
    Avoid Abrupt change

    Preemptive
    Important
    Affordable
    Distinctive
    Profitable
    Superior
    Communicable

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