MARKET SEGMENTS
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MARKET
SEGMENTS
Buyers – want, resources, location, buying
Businesses –
ability to serve all the customers![]()
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Target marketing
Broadly (Mass) Narrowly Individual (local)
STP
Customer is the
segmentation market into smaller segment, Target is the segments to enter,
Position in the mind of target customers. The uncover the segment, market different
consumer need, sustained profit growth and compelling customer experiences
SEGMENTATION:
Measurable is size,
power and segments. Must to the large or profitable to serve, Accessible can be
effective reached and served, Differential marketing mix element to action to
able to attract and serve the segment
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Customer |
Business |
|
Geographic is region and rural |
Firmographics – Industry and global |
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Demographics is age & income |
Buying approach is centralized & decentralized |
|
Psychographics is lifestyle personality |
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Behavioural is knowledge, occasion and stage and
benefits value and status |
Volume, attitude and locality and benefits is price,
produce and quality relationships |
TARGETING
Each market
segment’s attractive and selecting one or more market segments to enter and
designers. Factor is selective of segments of various with fast, growing and
profitable.
Resources by less
profits to learn and develop. Current and potential to attraction of large and
powerful competitors. evaluate and customer lifecycle target
Criteria size: The
market must be large enough to justify segmenting. If the market is small, it
may make it smaller.
Difference:
Measurable differences must exist between segments.
Money: Anticipated
profits must exceed the costs of additional marketing plans and other changes.
Accessible: Each
segment must be accessible to your team and the segment must be able to receive
your marketing messages
Focus on different
benefits: Different segments must need different benefits.
POSITIONING:
Is the identify proposition
for each segment. it is core brand, online value proposition after the
marketing mix and lifecycle brand development and the proposition messaging.
how the position the product to appeal to each customer segment
Positioning refers
to the place you want your brand or product to have within a particular target
market. More specifically, the process of market positioning and brand
positioning involves how you market your brand or product to consumers
1. Comparative: This
positioning strategy works by comparing multiple products or brands to create a
competitive edge and highlight their individual value.
2. Differentiation:
By focusing on any unique features which ideally can’t be duplicated, a
differentiation positioning strategy ensures a brand’s products will stand out
from the competition.
3. Segmentation: In
situations where there are multiple target audiences, a segmentation
positioning strategy focuses on the different specific needs of each group
Thanks for reading…
Stay tuned!
SM
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