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Segmentation, Targeting & Positioning

for Competitive Advantage

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Importance of
Segmentation and Targeting

• The focus of a successful marketing program is the


customer. Effectively marketing must fully understand the
needs.
• Customers with decent life and individualism have
Heterogeneous demands, This has given rise to need for
segmenting.
• The process of understanding the customer and choosing
a group of customer you can serve best is targeting.

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Identify the Total Market

Identify Total Market

Effective Segmentation

Bases for Segmentation

Select Target Segment

Positioning Strategy

Marketing Mix

Monitor, Evaluate and


ControlObjective 3 3
Identify the Total Market

• The first step in the target market


selection process is to specifically
define the total market of all potential
customers for a product category.

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Segmentation and Effectiveness

Identify Total Market

Effective
Segmentation

Bases for Segmentation

Select Target Segment

Positioning Strategy

Marketing Mix

Monitor, Evaluate and


ControlObjective 3 5
Segmentation

• Segmenting means dividing a heterogeneous


markets into homogenous groups based on
similar characteristics or traits
• Heterogeneous demand- different groups of
customers have differing needs from specific
products.
• Homogeneous segment- the separation of
markets into distinctive groups based on
homogeneous characteristics.

6
Criteria for
successful segmentation

Ac
i sti nc tive tio
D n ab
l le
t ia
tan
bs
Su
Me Acc
a
Ide sura ess
ible
ntif ble
iab
le

7
Criteria for
successful segmentation

tive
Distinc •Clear differences
in consumer
preferences for a
product must
exist.

8
Criteria for
successful segmentation

•Difference
Me
a preferences for a
Ide sura
ntif ble
iab
le
product must be
identifiable and
capable of being
related to
measurable
variables.
9
Criteria for
successful segmentation

l
•The proposed
ti a
b sta
n
market segment
Su
must have enough
size and
purchasing power
to be profitable.

10
Criteria for
successful segmentation

•Companies must
Act
io nab
le
be able to respond
to difference
preferences with
an appropriate
marketing mix.

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Criteria for
successful segmentation

Acc
•The proposed
ess
ible market segment
must be readily
accessible and
reachable with
market programs.

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Determine Bases for Segmentation

Identify Total Market

Effective Segmentation

Bases for Segmentation

Select Target Segment

Positioning Strategy

Marketing Mix

Monitor, Evaluate and


ControlObjective 3 13
Bases for Segmentation

• To divide a market into segments, firms


use segmenting criterion that describe
the characteristics of each part of the
market.

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Segmentation Base

Demographic Benefits-Sought
Segmentation Segmentation

Geographic Situation
Segmentation Segmentation

Psychographic Behavior/Usage
Segmentation Segmentation
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Segmentation Base

Life-cycle Income Level

Social class

Education Ethnic

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Demographic

• Age: under 6, 6-11, 12-19, 20-34, 35-49, 50-60 & 60+


• Family Size: single, married no children, married with
small kids
• Gender: male or female
• Occupation: Unskilled workers, skilled workers,
businessmen, self-employed professionals,
professionals private sector, public sector
• Income: low upto 40,000 pa, lower middle (40,000-
80,000), middle uptil 120,000, upper middle and high.

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Segmentation
Segmentation Base
Base

Demographic Benefits-Sought
Segmentation Segmentation

Geographic Situation
Segmentation Segmentation

Psychographic Behavior/Usage
Segmentation Segmentation
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Segmentation Base

• Localizes its marketing efforts to specific


geographic regions.
• Region: South, West, North, East
• City: Class I cities, Class II cities, Metros, Cities
with population between 0.5 to 1 million, cities with
population over 1 million
• Rural , semi urban and urban

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Segmentation
Segmentation Base
Base

Demographic Benefits-Sought
Segmentation Segmentation

Geographic Situation
Segmentation Segmentation

Psychographic Behavior/Usage
Segmentation Segmentation
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Segmentation Base

• Grouping customers together based


on social class, lifestyles and
psychological characteristics
(attitudes, interests and opinions)
• Lifestyle: culture oriented, sports oriented,
outdoor oriented
• Personality: Gregarious, Authoritarian,
Ambitious
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Segmentation
Segmentation Base
Base

Demographic Benefits-Sought
Segmentation Segmentation

Geographic Situation
Segmentation Segmentation

Psychographic Behavior/Usage
Segmentation Segmentation
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Segmentation Base

• Markets can be segmented


based on the benefits that
consumers desire from using a
specific product.
• Quality, service, economy, speed
• Silky hair, long hair, anti-dandruff
hair,
• White teeth, fresh breath, cavity
free
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Segmentation
Segmentation Base
Base

Demographic Benefits-Sought
Segmentation Segmentation

Geographic Situation
Segmentation Segmentation

Psychographic Behavior/Usage
Segmentation Segmentation
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Segmentation Base

• Purchase situation or occasion


Regular or special
As a rakhi gift or wedding gift

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Segmentation
Segmentation Base
Base

Demographic Benefits-Sought
Segmentation Segmentation

Geographic Situation
Segmentation Segmentation

Psychographic Behavior/Usage
Segmentation Segmentation
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Segmentation Base

• Markets can be segmented by how often or how


heavily consumers use a specific product
– Pareto’s Principle or 80/20 Principle - 80% of revenue
generated by 20% of customers

Light
Light Users
Users
80%
80%
Heavy
Heavy Users
Users
20%
20%

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Select Segments for Targeting

Identify Total Market

Determine Need for


Segmentation

Determine Bases for


Segmentation

Select Target Segment

Positioning Strategy

Marketing Mix

Monitor, Evaluate and


ControlObjective 3 28
Targeting

• Targeting: choose the specific segment toward


which a firm directs its market efforts.
• Niche Marketing: the process of targeting a small
market segment with a specific, specialized
marketing mix.
• Micromarketing- the process of targeting smaller,
more narrowly defined market segments.
• On the individual consumer end of the continuum,
a firm may decide to target individual consumers
and personalize marketing efforts toward each.
29
Target the Mass Market versus the
Individual Consumer

Mass
Market
Niche Micro-
marketing The
Individual

e n ta ti o n S ize
Mar ke t Se gm
f
Continuum o Personal-
Micro- ization
Standardized Niche marketing
Marketing
Mix 30
Advantage of Targeting Efforts

• Cannot effectively serve all the segments,


must target marketing efforts to a segment or
segments.
• Marketing mix more delicately blended to
meet potential customer’s needs
• Offer the greatest potential to achieve profit or
relationship goals

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Targeting Strategy

1.Undifferentiated marketing
2.Differentiated marketing
3.Concentrated marketing

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Targeting Strategy
• Companies might
Undifferentiated targeting
strategy develop one marketing
mix strategy that is
Concentrated strategy appropriate for all
members of the total
Differentiated strategy market. Henry Ford
epitomised this strategy
when he offered the
Model T in only black
colour.

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Targeting Strategy

Undifferentiated targeting
strategy
• Only one marketing
mix is developed
Concentrated strategy
and directed
toward a few, or
Differentiated strategy
perhaps one,
profitable market
segments.

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Targeting Strategy

Undifferentiated targeting
strategy • Exists when a firm
develops different
Concentrated strategy
marketing mix
plans specially
Differentiated strategy
tailored for each of
two or more market
segments.

35
Select Positioning Strategy

Identify Total Market

Effective
Segmentation

Determine Bases for


Segmentation

Targeting Segment

Positioning Strategy

Marketing Mix

Monitor, Evaluate and


ControlObjective 3 36
Positioning

Positioning

• Kotler defined: “designing an


offer so that it occupies a
distinct and valued place in the
minds of the target customer.”

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Positioning

Positioning
Image that customers have about
a product in relation to the
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product’s competitors
Select Positioning Strategy

• Effective positioning
– What consumers currently think about
the product, especially in relation to
competing products
– What the marketer wants consumers to
think about the product
– Which positioning strategy will elevate
the consumers’ current product image to
the desired product image.
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Performance

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Consistency

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Reliability & Luxury

42
Durability

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User friendly

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Looks

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