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Segmentation, Targeting, Positioning

Segmentation, Targeting, Positioning. Session-4. Mass Market. Whom do you sell these products. Effective Targeting Requires. Identify and profile distinct groups of buyers who differ in their needs and preferences. Select one or more market segments to enter.

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Segmentation, Targeting, Positioning

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  1. Segmentation, Targeting, Positioning Session-4

  2. Mass Market

  3. Whom do you sell these products

  4. Effective Targeting Requires • Identify and profile distinct groups of buyers who differ in their needs and preferences. • Select one or more market segments to enter. • Establish and communicate the distinctive benefits of the market offering.

  5. Steps in Market Segmentation, Targeting and Positioning

  6. Four Levels of Micromarketing • Segments • Niches • Local Areas • Individuals

  7. Segment Marketing • Targeting a group of customers who share a similar set of needs and wants.

  8. Niche Marketing • Narrowly defined customer groups seeking distinctive mix of benefits. • Ready to pay premium. • Ignored by other marketers.

  9. Local • Marketing programs tailored to the need of local customer groups. • HSBC worlds local bank • Mc Donald: Maharaja Mac, Veg. Burgers.

  10. Individual Marketing • Segment of ‘one’ • Customization

  11. Segmenting Consumer Market • Geographic • Nations, States, Zones, States, Countries. • Demographic • Age, Life Stage, Gender, Income, Generation, Social Class • Psychographic • Values, Attitudes, Beliefs, Lifestyle • Behavioral • Occasions, Benefits, User Status, Loyalty Status, User Rage

  12. Measurable Accessible Substantial • Size, purchasing power, profiles • of segments can be measured. Differential • Segments can be effectively • reached and served. Actionable Segments are large or profitable enough to serve. Segments must respond differently to different marketing mix elements & programs. Effective programs can be designed to attract and serve the segments. Segmentation Criteria

  13. Targeting- Evaluating Target Market • Segment Size and Growth • Analyze current sales, growth rates and expected profitability for various segments. • Segment Structural Attractiveness • Consider effects of: competitors, availability of substitute products and, the power of buyers & suppliers. • Company Objectives and Resources • Company skills & resources needed to succeed in that segment(s). • Look for Competitive Advantages.

  14. Target Market Patterns

  15. Target Market Patterns

  16. Target Market Patterns

  17. Market Coverage Strategies. Market Company Marketing Mix Company Marketing Mix 1 Segment 1 Company Marketing Mix 2 Segment 2 A. Undifferentiated Marketing Segment 3 Company Marketing Mix 3 Segment 1 Company Marketing Mix Segment 2 B. Differentiated Marketing Segment 3 C. Concentrated Marketing

  18. Trivia • Who Flew Solo across the Atlantic for the first time? • Who was the first to Land on the Moon? • Who was the first to scale Mt. Everest? • Which was the first small car produced in India?

  19. Answers • Charles Lindberg. • Neil Armstrong. • Hillary/ Tenzing. • Maruti. Name the Second???

  20. First in Mind • IBM- Computers. • Coke- Cola. • KFC- Chicken • Bhatbhateni- Product breadth. • Lobsters- Sea Food

  21. Brand Positioning • What comes to your mind

  22. Positioning Act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.

  23. Brand Positioning • Pepsi Youngistan Ad • What position it created

  24. Mind Games

  25. How to Choose Brand Positioning Strategy 1. Identify Possible Competitive Advantage. 2. Select the right competitive advantage 3. Communicate and Deliver the chosen Competitive advantage.

  26. Positioning Examples • Low-price vs. High quality • Taste vs. Low calories • Nutritious vs. Good tasting. • Low Cost Vs. Service • Powerful vs. Safe • Strong vs. Refined • Ubiquitous vs. Exclusive

  27. Differentiation Strategies Image : The way the public perceives the company or its products

  28. Positioning Errors • Under positioning- This is a scenario in which the customer’s have a blurred and unclear idea of the brand. • UTL • Over positioning- This is a scenario in which the customers have too limited a awareness of the brand • Lobsters. • Confused positioning- This is a scenario in which the customers have a confused opinion of the brand. • UML • Double Positioning- This is a scenario in which customers do not accept the claims of a brand. • Maoists

  29. GAMSAHAMIDA

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