Lecture6 : Market Segmentation, Targeting & Positioning Flashcards
3 Steps of Target Marketing
- Market Segmentation
- Market Targeting
- Market Positioning
Steps in positioning, targeting, segmentation
Identifying Bases for Segmenting the Market
Developing profiles of Resulting Segments
Develop Measures of Segment Attractiveness
Select Target Segments
Develop Positioning for each Target Segment
Develop Marketing Mix for each Target Segment
Levels of Market Segmentation
Mass Marketing
Segment Marketing
Niche Marketing
Micro Marketing: Local/Individual Marketing
Bases for segmenting consumer markets
Geographic, Demographic, Physchographic, Behavioural
Bases for segementing business markets
Demographics
Operating Characteristics
Purchasing Approaches
Situational Factors
Personal Characteristics
Market Targeting
Size and growth
Structual Attractiveness
Company Objective and Resources
Size and growth
Analyse sales, growth rates and expected profitability for various segment
Structual Attractiveness
Consider effects of Competitors, Availability of substitute Products, and Power of buyer and suppliers
Company Objectives and Resources
Company skills and resources relative to the segments
look for competitive advantage
Undifferentiated Marketing
All= All
Differentiated Marketing
1=1, 2=2, 3=3
Concentrated Marketing (Niche)
1=1
focuses on sub-groups within a market segment
distinctive traits that may seek a special combination of benefits
smaller and attract only one or a few competitors
understand their niches’ need so well that their customers willingly pay a price premium
opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger competitors.
Marketing Positioning
Product Attributes
Benefits Offered
Usage occasions
User Class
Product Class
Against a competitor
Away from competitors
Product Attributes
– low price of China cars vs performance of German cars
Benefits Offered
reduction of cavities vs good taste of toothpaste
