Market Segmentation, Targeting, and Positioning © Leonard Walletzký.
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Transcript of Market Segmentation, Targeting, and Positioning © Leonard Walletzký.
![Page 1: Market Segmentation, Targeting, and Positioning © Leonard Walletzký.](https://reader033.fdocuments.in/reader033/viewer/2022061510/5697bfd01a28abf838caa9b1/html5/thumbnails/1.jpg)
Market Segmentation, Targeting, and Positioning
© Leonard Walletzký
![Page 2: Market Segmentation, Targeting, and Positioning © Leonard Walletzký.](https://reader033.fdocuments.in/reader033/viewer/2022061510/5697bfd01a28abf838caa9b1/html5/thumbnails/2.jpg)
Marketing framework
5C Customer
CompanyContextCollaboratorsCompetitors
STP SegmentationTargetingPositioning
Mark
eti
ng
M
ix4P7P4C7C4S
Název prezentace v zápatí 2
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The STP Process
Segmentation is the process of classifying
customers into groups which share some
common characteristic
Targeting involves the process of evaluating
each segments attractiveness and selecting
one or more segments to enter
Positioning is arranging for a product to
occupy a clear, distinctive and desirable place
relative to competing products in the mind of
the consumer
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Target Market
A market is a set of all actual and potential
buyers
A target market is a group of people toward
whom a firm markets its goods, services, or
ideas with a strategy designed to satisfy their
specific needs and preferences.
Any marketing strategy must include a
detailed (specific) description of this.
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Advantages of Segmentation
1. The process of breaking up a homogeneous market into heterogeneous segments forces the marketer to analyse and consider both the needs of the market and the company’s ability to competently serve those needs – thereby making the company better informed about its customers
2. Competitor offerings and marketing positioning must also be analysed in this context so the company must consider what its competitive advantages and disadvantages are, helping it to clarify its own positioning strategy
3. Limited resources are used to best advantage, targeted at those segments that offer the best potential
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• Size, purchasing power, profiles of segments can be measured.
• Segments can be effectively reached and served.
• Segments are large or profitable enough to serve.
Measurable Measurable
AccessibleAccessible
SubstantialSubstantial
DifferentialDifferential
ActionableActionable
• Segments must respond differently to different marketing mix elements & programs.
• Effective programs can be designed to attract and serve
the segments.
Requirements for Effective Segmentation
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Steps in Segmentation, Targeting, and Positioning
1. Identify Basesfor Segmenting the Market
2. Develop Profilesof Resulting Segments
3. Develop Selection Criteria
4. Select TargetSegment(s)
5. Develop Positioningfor Each Target Segment
6. Develop MarketingMix for Each Target Segment Market
Positioning
MarketTargeting
Market Segmentation
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Step 1. Market Segmentation
Levels of Market Segmentation
Mass MarketingSame product to all consumers
(no segmentation)
Mass MarketingSame product to all consumers
(no segmentation)
Segment MarketingDifferent products to one or more segments
(some segmentation)
Segment MarketingDifferent products to one or more segments
(some segmentation)
MicromarketingProducts to suit the tastes of individuals and locations
(complete segmentation)
MicromarketingProducts to suit the tastes of individuals and locations
(complete segmentation)
Niche MarketingDifferent products to subgroups within segments
(more segmentation)
Niche MarketingDifferent products to subgroups within segments
(more segmentation)
Local Marketing
Tailoring brands/ promotions to local customer groups
Individual Marketing
Tailoring products/ programs to individual customers
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Step 1. Market SegmentationBases for Segmenting Consumer Markets
Geographic
DemographicAge, gender, family size and life cycle, or income
PsychographicSocial class, lifestyle, or personality
BehaviouralOccasions, benefits sought, user status, usage rate, loyalty
Nations, states, regions or cities
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Step 1. Market SegmentationBases for Segmenting Business Markets
Basesfor Segmenting
BusinessMarkets
Basesfor Segmenting
BusinessMarkets
DemographicsPersonalCharacteristics
SituationalFactors
OperatingCharacteristics
PurchasingApproaches
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Segmenting Business Markets
Segmentation by customer size or geographic
location
Four segments of business customers
Programmed buyers
Relationship buyers
Transaction buyers
Bargain hunters
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Step 1. Market SegmentationBases for Segmenting International Markets
Political/Legal
Political/Legal
Cultural Cultural IntermarketIntermarket
Economic EconomicGeographicGeographic
Industrial MarketsIndustrial Markets
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Step 2. Market TargetingEvaluating Market Segments (developing selection criteria)
Segment Size and GrowthAnalyze sales, growth rates and expected profitability for various segments.
Segment Structural AttractivenessConsider effects of: Competitors, Availability of Substitute Products and, the Power of Buyers & Suppliers.
Company Objectives and ResourcesCompany skills & resources relative to the segment(s).Look for Competitive Advantages.
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Segment 1Segment 1
Segment 2Segment 2
Segment 3Segment 3
Segment 1Segment 1
Segment 2Segment 2
Segment 3Segment 3
CompanyMarketing
Mix
CompanyMarketing
Mix
CompanyMarketing
Mix
CompanyMarketing
Mix
CompanyMarketing Mix 1
CompanyMarketing Mix 1
CompanyMarketing Mix 2
CompanyMarketing Mix 2
CompanyMarketing Mix 3
CompanyMarketing Mix 3
MarketMarket
A. Undifferentiated Marketing
B. Differentiated Marketing
C. Concentrated Marketing
Step 2. Market TargetingMarket Coverage Strategies
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Step 2. Market Targeting
Choosing a Market-Coverage Strategy
Company Resources
ProductVariability
Product’s Life-Cycle Stage
Market Variability
Competitors’Marketing Strategies
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Step 3. Positioning for Competitive Advantage
Product’s Position - the way the product is defined by consumers on important attributes - the place the product occupies in consumers’ minds relative to competing products.
Marketers must:Plan positions to give their products the greatest advantage in selected target markets,Design marketing mixes to create these planned positions.
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Step 3. Positioning for Competitive Advantage: Strategies
Against aCompetitor
Against aCompetitor
UsageOccasions
UsageOccasions
Away fromCompetitors
Away fromCompetitors
ProductAttributes
ProductAttributes
ProductClass
ProductClass
BenefitsOffered
BenefitsOffered
User ClassUser Class
BB
AA
EEDD
CCHHGG
FF
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Steps to Choosing and Implementing a Positioning Strategy
Step 1. Identifying Possible Competitive Advantages: Competitive Differentiation.
Step 2. Selecting the Right Competitive Advantage: Unique Selling Proposition (USP).
Step 3. Communicating and Delivering the Chosen Position.
Step 4. Support the positioning strategy with a unique marketing mix
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Developing Competitive Differentiation
ProductProduct ServiceService
ImageImage PeoplePeople
Areas for CompetitiveDifferentiation
Areas for CompetitiveDifferentiation
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Selecting the Right CompetitiveAdvantages
Criteriafor
DeterminingWhich
Differencesto
Promote
Criteriafor
DeterminingWhich
Differencesto
PromoteAffordableAffordable SuperiorSuperior
ProfitableProfitable
PreemptivePreemptive
DistinctiveDistinctive
ImportantImportant
CommunicableCommunicable
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Step 4 – Supporting the positioning strategy
At this stage the company has decided on its
positioning strategy and must now design a
marketing mix to support this strategy. The
next part of the course looks at ‘Developing
the Marketing Mix’