Define a Market Strategy Part 3

Question 1

3 types of targeting offers

Answer 1

1. Undifferentiated: When the target = the market
2. Concentrated: Only one segment
3. Differentiated: A cluster of segments

Question 2

Undifferentiated

Answer 2

Aggregated Market
In the case of the 3 x 3 square all are highlighted

Mass production

Question 3

Concentrated target (Single segmentation, One product, one segment)

Answer 3

One square of the 3 x 3 is highlighted
concentrated on well defined segments, but risk of consumer behavior changes

Question 4

Concentrated Target (single segmentation, concentration on one segment)

Answer 4

1 segment column is highlighted over 3 products
can acquire a strong reputation, however client budgets can change

Question 5

Selective specialism

Answer 5

Concentration of different segments (Product 1 with segment 3, Product 2 with Segment 1, Product 3 with Segment 2) Great for diversifying risk

Question 6

Multi-segment targeting

Answer 6

Concentration on 1 product but all three segments

good for brand rep and financial success in med-long term, but high costs

Question 7

Multi-segment targeting (Concentration on all products and all segments

Answer 7

Full 3 x 3 is highlighted

good for brand rep and financial success, but very high costs

Question 8

6 Different Targets

Answer 8

1. Aggregated Target
2. Concentrated Target (1 Product, 1 Segment)
3. Concentrated Target (3 Products, 1 Segment)
4. Selective Specialism (Soduku style)
5. Multisegment Targeting (1 Product, 3 Segments)
6. Multisegment targeting (3 products, 3 Segments)

Question 9

Positioning

Answer 9

What your product means to the consumer i.e. volvos are safe

Question 10

2 Positioning Approaches

Answer 10

1. Direct competition with competitors on similar attributes in the same target market
2. Differentiated positioning, looking for a less competitive position in the market

Question 11

Positioning factors

Answer 11

Top quality, safety, reliability, attractiveness…

Question 12

4 Positioning steps

Answer 12

1. Identify the most important and relevant points of difference
2. Analyze the product competitors positioning
3. Identify the dimension of the positioning
4. Choose the most convenient market positioning