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MARKET
TARGETIN
G
Market Segmentation???
-It is the process of
disaggregating the total
market for a given product
into a number of submarkets.
-The heterogeneous market
is divided into a number of
relatively homogeneous
units.
Need?
The marketing concept calls for
understanding customers and
satisfying their needs better than
the competitors . But different
consumers have different trends, and
it rarely is possible to satisfy all
customer by treating them alike.
Mass Marketing
Mass marketing refers to
the treatment of the
market as a homogeneous
group and offering the
same marketing mix to
all customers. It allows
economies of scale to be
realized through mass
production, mass
distribution, and mass
communication.
DrawbackCustomer needs
and preferences
differ and at the
same offering is
likely to be viewed
as optimal by all
customers.
Micro Marketing
Micro marketing recognizes the diversity of
customers and does not try to please all of
them with the same offering.
Objectives:
-Understand the characteristics of the
customers.
-Identify the value & profitability of different
segments.
-Identify the size and characteristics of the
market in which they operate.
Micromarketing
Micromarketing
Products
Products to
to suit
suit the
the tastes
tastes of
of individuals
individuals or
or locations
locations
(complete
(complete segmentation)
segmentation)
Niche
Niche Marketing
Marketing
Different
Different products
products to
to subgroups
subgroups within
within segments
segments
(( more
more segmentation)
segmentation)
Segment
Segment Marketing
Marketing
Different
Different products
products to
to one
one or
or more
more segments
segments
(some
(some segmentation)
segmentation)
Mass
Mass Marketing
Marketing
Same
Same product
product to
to all
all consumers
consumers
(no
(no segmentation)
segmentation)
Levels of Segmentation
Steps in Segmentation
Process
Identify the target market.
Identify expectations of target audience.
Create Subgroups
Identify suitable marketing mix for each
groups.
Find out which group to focus.
Select those segment which offer high
potential.
Profili
ng
Attitudes
Geographic
Geographic
Situational
Situational Factors
Factors
Benefits of Market
Segmentation
1. One customer group is distinguished from another within a
given market and this enables to decide which segment of
the market should form as target market.
2. Facilitates in-depth study of the characteristics of the buyers.
3. Help the marketing man to develop the marketing programme
on a predictable and reliable base.
4. More suitable marketing offers for a particular segment is
easily developed.
5. Suitable marketing mix is achieved.
6. Due to concentrated efforts most productive and profitable
segments of markets are achieved.
7. Its helps to asses competitors stand in the market.
8. Customer and companies choose each other for mutual benefit
and satisfaction.
LAUNDRY SOAP.
SPECIAL LAUNDRY SOAP.
LOW GRADE TOILET SOAP.
PREMIUM YOILET SOAP.
TOILET SOAPS FOR STORES, OFFICES AND RESTAURANTS.
INDUSTRIAL SOAP.
WATCH INDUSTRY
ECONOMY SEGMENT
MID-SIZED SEGMENT
LUXURY SEGMENT
SUPER LUXURY SEGMENT
DIFFERENT TYPES OF
SEGMENTATION
PURCHASE OCCASION SEGMENTATION
DIVIDE CUSTOMERS ON THE BASIS OF THE REASON BEHIND THEIR
PURCHASE.
LOYALTY SEGMENTATION
DIVIDES CUSTOMERS ON THE BASIS OF THEIR
LOYALTY TOWARDS A CERTAIN PRODUCT OR
SERVICE.
TECNOGRAPHIC SEGMENTATION
IDENTIFICATION OF SEGMENTS BASED ON THE
INTERACTION OF THREE VARIABLES.
THESE ARE ATTITUDE TOWARDS TECHNOLOGY,
APPLICATION OF TECHNOLOGY, AND THE
FINANCIAL POSITION OF THE CONSUMERS.
POSITIONING
POSITIONING IS THE ART OF DESIGNING COMPANYS
OFFERING AND IMAGE TO OCCUPY A DISTINCTIVE
PLACE IN THE TARGET MARKETS MIND
THE POSTION OF BRAND IS THE PERCEPTION IT BRINGS
ABOUT IN THE MIND OF THE TARGET CUSTOMER.
PRINCIPLES OF POSITIONING
IT IS BETTER TO BE FIRST THAN TO BE LATE.
IN CASE, IT IS NOT THE FIRST, THEN THE COMPANY
SHOULD BE ABLE TO CREATE A NEW CATEGORY BY
MAKING AT LEAST A SMALL CHANGE IN THE MARKETING
MIX ELEMENTS.
IT IS IMPORTANT TO UNDERSTAND THE POSITION AND
STRATEGIES OF THE COMPETITORS.
POSITIONING USING AN EASY NAME. EG:L G.
POSITIONING ERRORS
UNDER POSITIONING.
OVER POSITIONING.
CONFUSED POSITIONING.
DOUBTFUL POSITIONING
POSITIONING STRATEGIES
ATTRIBUTE POSITIONING.
BENEFIT POSITIONING.
USE OR APPLICATION POSITIONING.
USER POSITIONING.
COMPETITOR POSITIONING.
PRODUCT CATEGORY POSITIONING.
QUALITY OR PRICE POSITIONING.
POSITIONING IN RTELATION TO A TARGET MARKET.
POSITIONING PARADIGMS
Monopolistic competition prevails in the contemporary markets. Product
differentiation and price differentiation are the main features of
monopolistic competition. The marketer must reinterpret the product
differentiation as a meaningful consumer benefit.
Competiti
ve
advantag
e
Compa Competit
ny
or
standin standing
g
Importan
ce of
imprvg
std
Technolog 8
y
Hold
Cost
Monitor
Quality
Monitor
Service
Invest
POSITIONING OF SERVICES
Because of intangibility and other features associated with the services,
consumers find that differentiation of services is more difficult and complex.
Positioning involves giving the target market segment the reason for buying
the services and thus underpins the whole marketing strategy.
Contd
3.Use or application positioning:-The service is positioned
as the best for a certain application.
4.User positioning:-The service is positioned for a specific
target group of users.
5.Competitor positioning:-The service is positioned by the
provider against a competitors service offering.
6.Catogory positioning:-The service provider positions
itself as the category leader and becomes synonymous
with the service.
7.Quality or price positioning:-A service is positioned in
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DIFFERENTIATION
VARIABLES
CHARACTERSTICS OF
DIFFERENTIATION STRATEGIES
DIFFERENTIATION IN
SERVICES
SERVICES
DIFFERENTIATING
VARIABLES..
ACCESSIBILITY
THE NUMBER OF CONTACT PERSONNEL
OFFICEC HOURS
TIME TAKEN TO PERFORM TASKS
LOCATION OF THE OUTLETS
EXTERIOR AND INTERIOR OF SERVICE OUTLETS
TOOLS,EQUIPMENT AND DOCUMENTS
CO-CUSTOMERS
INTERACTION
PHYSICAL AND TECHNICAL RESOUCES
SYSTEMS
EMPLOYEES
OTHER CUSTOMERS
CUSTOMER PARTICIPATION
CUSTOMER
KNOWLEDGE
ABILITY
WILLINGNESS
INFORMATION SUPPORT
TANGIBLES
INTERIOR
EXTERIOR
TOOLS
EQUIPMENT
FURNITURE
SEVICE CHANNEL
EXPERTISE
PERFORMANCE
CHOICE
COVERAGE
SERVICE IMAGE
CORPORATE IMAGE
LOCAL IMAGE
SERVICE RECOVERY
TIME
EMPATHY
SERVICE PERSONNEL
COMPETENCE
COURTESY
CREDIBILITY
RELIABILITY
RESPONSIVENESS
COMMUNICATION
EMPATHY