Segment, Target & Positioning
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Transcript of Segment, Target & Positioning
Identifying Market Segments and
Selecting Target Markets
BY- LAZARUS CHETTIAR
DEVANAND.S.MENONPRATHAMESH PARAB
RONALD PATRICK
MARKET• Market is a physical place where buyers & sellers
gathered to buy and sell goods. Or Collection of buyers and sellers who transact over a particular product.
E.g 1. Consumer Market- Soft Drinks, cosmetics, air travel
2. Business Markets- Infosys, Huwai, BPO’s
3. Global markets- Import & Export companies, MNC;s
4. Nonprofit & Govt Markets-Temples, Universities, govt companies
10-3
1. Identify Basesfor Segmenting the Market
2. Develop Profilesof Resulting Segments
3. Develop Measuresof Segment Attractiveness
4. Select TargetSegment(s)
5. Develop Positioningfor Each Target Segment
6. Develop MarketingMix for Each Target Segment Market
Positioning
MarketTargeting
Market Segmentation
STEPS IN SEGMENTING-TARGETING-POSITIONING
10-4
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 or locations
(complete segmentation)
MicromarketingProducts to suit the tastes of individuals or locations
(complete segmentation)
Niche MarketingDifferent products to subgroups within segments
( more segmentation)
Niche MarketingDifferent products to subgroups within segments
( more segmentation)
LEVELS OF MARKET SEGMENTATION
SEGMENTATION-PRODUCT EXAMPLESSEGMENT MARKETING:Example: Automobile industry – basic model is same but for A.C , power steering, power window buyer has to extra priceNICHE MARKETING :- Group of customers seeking a distinctive mix of benefits who are ready to pay extra premium. Egs :- detergents :- surf excel on tough stains ,Ezee godrej for delicate clothes . Sanskar ,Shankara T.V ,TTD(Tiruapti tirumala Devasthanam) – focus on religion & spiritualismLOCAL MARKETING:Ex. – Spiderman 3 was released in 5 different language in India including bhojpuri.INDIVISUAL MARKETING:Ex. Paint companies have started doing this- Asian Paint , Nerolac , Berger PaintsArvind mills launched Ruff’n Tuff Jeans, branded ready to sitch
SEGMENTATION-PRODUCT EXAMPLES
HYNDAI EON-SEGMENT
ROLLS ROYCE-INCOME NICH-HIMALAYA
LOCAL
NICH-SPORTS CHANNEL
LOCAL
10-7
Geographic
DemographicAge, gender, family size and life cycle, income
PsychographicSocial class, lifestyle, or personality
BehavioralOccasions, benefits, uses, or responses
Nations, states, regions or cities
The Classic Segmentation Variables for Consumer Markets & Customer
Population
GEOGRAPHICAL SEGMENTATION:• Ex.- Mcdonalds globally, sell burgers aimed at local markets, • for example, burgers are made from lamb in India rather then
beef because of religious issues. DEMOGRAPHIC SEGEMENTATION:
• Needs and wants change as people ages . Egs :- Nappies for babies, Toys for children , Clothes for teenagers, Gender segmentation is used within the cosmetics, clothing and magazine industry.
INCOME SEGMENTATION:• Stores like Big Bazar, Woodland are predominantly aimed at
the affluent market. • TATA aim their vehicles at price sensitive buyers who require a
bundle of benefits for the price. • Products and services are also aimed at different lifecycle.• Holidays are developed for families, the 18-30's singles, and for
those in their 50's. (Kesari Or Mahindra Club)
SEGMENTATION-PRODUCT EXAMPLES
PSYCHOGRAPHIC:• Lifestyle groups Yuppie Associations• Mobile, High valued house/flat, Good Salary, Young
branded car.• 50's , Retired early from profession, Time to spare,
Adventure Seekers
OCCASIONS - Archies and Hallmark, cards, Monaco at tea time.
• BENEFITS – Shampoo for hair conditioning, cleaning , hair fall defence dandruff control
• USER STATUS- light – medium – heavy user• LOYALTY STATUS- hardcore loyal , split loyal-
loyal to 2-3 brand ,shifting loyal, switcher
SEGMENTATION-PRODUCT EXAMPLES
SEGMENTATION-PRODUCT EXAMPLES
Demographic-AGEGender
PsychographicsOccasion- Behavioral
LOCAL
ANALYZE OF CUSTOMER BEHAVIOUR
10-12
• Size, purchasing power, profiles of segments can be measured.
• Segments must be effectively reached and served.
• Segments must be large or profitable enough to serve.
Measurable Measurable
AccessibleAccessible
SubstantialSubstantial
DifferentialDifferential
ActionableActionable
• Segments must respond differently to different marketing mix elements & actions.
effective programs can be designed for attracting
and serving the segments.
MARKET TARGETINGEffective Segmentation Criteria
Patterns of Target Market Selection Product x Market Matrices
POSITIONING
• Positioning:– The place the product occupies in consumers’
minds relative to competing products.– Typically defined by consumers on the basis of
important attributes.– Involves implanting the brand’s unique
benefits and differentiation in the customer’s mind.– Positioning maps that plot perceptions of
brands are commonly used.
Goal 4: Realize how companies position their products
THANK YOU
10-15