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Market Targeting and Strategic Positioning. Ananda Sabil Hussein, Ph.D. Marketing is interesting. Marketing Strategy. Marketing Strategy = market driven To satisfy individual’s needs and wants Business organizations have limitations to serve market Segmentation. Marketing Targeting.
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Market Targeting and Strategic Positioning AnandaSabil Hussein, Ph.D
Marketing Strategy • Marketing Strategy = market driven • To satisfy individual’s needs and wants • Business organizations have limitations to serve market • Segmentation
Marketing Targeting • The Marketing Targeting Decision Identities the People or Organizations in a Product-Market Toward Which a Firm Directs Its Positioning Strategy Guided by an understanding of: •The product-market •Its buyers •Firm’s capabilities resources •Competition
Market Segmentation Strategies • Traditional Approaches to Market Segmentation • Mass Marketing • Differentiated Marketing • Multisegment Approach • Market Concentration Approach • Niche Marketing
Trivia • Can you think of a product that could be marketed effectively using a mass marketing approach? If so, explain and justify your answer. If not, what types of changes would have to be made to the product to make it appropriate for a mass marketing approach?
Emerging Approach to Segmentatiom • One-to-One Marketing • Mass Customization • Permission Marketing
Successful Segmentation • Identifiable and Measurable • Substantial • Accessible • Responsive • Viable
MARKET TARGETING STRATEGY • The Marketing Targeting Decision Identities the People or Organizations in a Product-Market Toward Which a Firm Directs Its Positioning Strategy Guided by an understanding of: •The product-market •Its buyers •Firm’s capabilities resources •Competition
MARKET TARGETING STRATEGY • Core dimensions of market-driven strategy: deciding which buyer’s to target and how to position the firm’s products • Effective targeting and positioning strategies are essential in gaining and sustaining superior performance
Factors Influencing Targeting Decisions • Stage of product – market maturity • Extent of diversity in preferences • Industry structure • Capabilities and resources • Opportunities to gain competitive advantage
Target Marketing Strategies • Five basic strategies for target market selection: • (1) Single Segment Targeting • (2) Selective Targeting • (3) Mass Market Targeting • (4) Product Specialization • (5) Market Specialization
TARGETING IN DIFFERENT MARKET ENVIRONMENTS • Emerging • Growing • Mature • Declining • Global
POSITIONING STRATEGY • Deciding the desired perception/ association of an organization/ brand by market target buyers…and designing the marketing program to meet (and exceed) buyers’ value requirements.
Positioning Strategy • Process of creating favorable relative position: • (1) Identification of target market • (2) Determination of needs, wants, preferences and benefits desired • (3) Examination of competitors’ characteristics and positioning • (4) Comparison of product offerings with competitors • (5) Identification of unique position • (6) Development of a marketing program • (7) Continual reassessment
Symbolic Functional Experiential The Perception or Association that Management Wants Buyers to Have Concerningthe Brand SELECTING THE POSITIONING CONCEPT
Positioning Error • Under-positioning – customers have only vague ideas about the company and do not perceive anything distinctive about it • Over-positioning – Customers have too narrow an understanding of the company, product, or brand • Confused positioning – Frequent changes and contradictory messages confuse customers • Doubtful positioning – claims made for the product or brand are not regarded as credible
Class Exercise • Pick out three brands from a particular industry. How are they segmented and positioned? Which is the best in your view? How would you evaluate each brand’s positioning strategy?
