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Segmentation, Positioning Segmentation, Positioning and and TargetingTargeting
Sudheer ReddySudheer Reddy
overviewoverview What is marketingWhat is marketing Marketing ConceptsMarketing Concepts SegmentationSegmentation TargetingTargeting PositioningPositioning conclusionconclusion
What is marketing?What is marketing?
Process by which individuals and groups Process by which individuals and groups obtain what they need and want through obtain what they need and want through creating and exchanging products and value creating and exchanging products and value with others.with others.
Core Marketing Core Marketing ConceptsConcepts
Products and
Services
Value, satisfaction,and quality
Needs, wants,and demands
Exchange, transactions,and relationships
Markets
CoreMarketingConcepts
What is Market Segmentation?What is Market Segmentation? Process of dividing a potential market into Process of dividing a potential market into
distinct subsets of consumers with common distinct subsets of consumers with common needs or characteristics.needs or characteristics.
Important Elements of Market Important Elements of Market SegmentationSegmentation
Each market segment has unique Each market segment has unique needs and wants and will have a needs and wants and will have a unique demand curve.unique demand curve.
Each market segment requires its Each market segment requires its own marketing strategy and own marketing strategy and marketing plan.marketing plan.
Market SegmentationMarket Segmentation Geographic SegmentationGeographic Segmentation
Demographic SegmentationDemographic Segmentation
Psychographic SegmentationPsychographic Segmentation
Behavior SegmentationBehavior Segmentation
Segmentation StrategySegmentation Strategy SingleSingle NicheNiche MassMass
Target MarketingTarget Marketing Target MarketTarget Market
– Consists of a set of buyers who share Consists of a set of buyers who share common needs or characteristics that common needs or characteristics that the company decides to servethe company decides to serve
Goal 3: Know how companies identify and target attractive [email protected][email protected]
Target MarketingTarget Marketing Evaluating Market SegmentsEvaluating Market Segments
– Segment size and growthSegment size and growth– Segment structural attractivenessSegment structural attractiveness
Level of competitionLevel of competition Substitute productsSubstitute products Power of buyersPower of buyers Powerful suppliersPowerful suppliers
– Company objectives and resourcesCompany objectives and resources
Goal 3: Know how companies identify and target attractive [email protected][email protected]
Market TargetingMarket Targeting
Evaluating Market SegmentsEvaluating Market Segments
Selecting Market SegmentsSelecting Market Segments
Choosing a Market-Coverage Choosing a Market-Coverage StrategyStrategy
Choosing a Target Marketing Choosing a Target Marketing StrategyStrategy
Considerations include:Considerations include:– Company resourcesCompany resources– The degree of product variabilityThe degree of product variability– Product’s life-cycle stageProduct’s life-cycle stage– Market variabilityMarket variability– Competitors’ marketing strategiesCompetitors’ marketing strategies
Goal 3: Know how companies identify and target attractive [email protected][email protected]
Target MarketingTarget Marketing Socially Responsible Targeting Socially Responsible Targeting
– Some segments, especially children, are Some segments, especially children, are at special riskat special risk
– Many potential abuses on the Internet, Many potential abuses on the Internet, including fraud Internet shoppersincluding fraud Internet shoppers
– Controversy occurs when the methods Controversy occurs when the methods used are questionableused are questionable
Goal 3: Know how companies identify and target attractive [email protected][email protected]
PositioningPositioning The place a product occupies in The place a product occupies in
consumers’ minds relative to consumers’ minds relative to competing products.competing products.
Identifying possible Identifying possible competitive competitive advantagesadvantages
Choosing the right Choosing the right competitive competitive advantageadvantage
Choosing a Choosing a positioning strategypositioning strategy
Differentiation can be Differentiation can be based on based on – ProductsProducts– ServicesServices– ChannelsChannels– People People – ImageImage
Topics Topics
Choosing a Positioning StrategyChoosing a Positioning Strategy
Goal 4: Realize how companies position their [email protected][email protected]
Competitive advantagesCompetitive advantages Points of ParityPoints of Parity Points of Difference => Differentiation Points of Difference => Differentiation
Positioning results from differentiation Positioning results from differentiation and competitive advantages.and competitive advantages.
Positioning may change over timePositioning may change over time..
Positioning StrategyPositioning Strategy
Communicating the PositioningCommunicating the Positioning Companies must be certain to Companies must be certain to
DELIVER their value propositions.DELIVER their value propositions. Positions must be monitored and Positions must be monitored and
adapted over time.adapted over time.
Goal 4: Realize how companies position their [email protected][email protected]
Which is more important: Which is more important: ProductProduct or or PositioningPositioning??
ConclusionConclusion
Building the right relationship with the Building the right relationship with the right customers.right customers.
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