assignment
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Chapter6-SegmentingTargetingandPositioning.pptxSegmenting, Targeting and Positioning
What’s this chapter about?
Important aspects of STP marketing
STP Marketing
Segmenting
Dividing a market based on demographics, lifestyles, behavioral measures etc.
Targeting
Selecting the most appropriate market(s)
Positioning
Target marketing messages using the 4Ps
Market Segmentation
Market segmentation is the division of consumer markets into meaningful and distinct groups.
Why is Market Segmentation important?
Marketers can better define consumer needs.
Decision makers can define objectives and allocate resources accurately.
Competitive advantage.
Segmentation Base …
is a group of characteristics that is used to assign segment members.
Demographics
Psychographics
Needs
Behavioral
Demographic Segmentation
By 2030, 20% of Americans will be over 65
Half of Japan’s population will be age 50 or older by 2025
Psychographic Segmentation
Needs Segmentation
is the process of grouping customers into market segments according to the benefits they seek from the product.
Behavioral Segmentation
is the process of dividing the market by the amount of product bought or consumed.
80 / 20 principle
20% of all customers generate 80% of the demand
Light Users Heavy Users 0.2 0.8
Targeting
Targeting is the process of evaluating the various segments and then selecting the most viable segment or segments for your product.
Four Targeting Strategies
Undifferentiated
Differentiated
Niche
Micro
Undifferentiated
This approach views the market as one big market with no individual segments and thus requires a single marketing mix.
In class discussion!
Differentiated
This approach chooses two or more well-defined market segments and develops a distinct marketing mix for each.
Niche
This approach selects one small segment of a market for targeting its marketing efforts.
Micro
This approach uses one-to-one marketing which is individualized, information sensitive, with a long-term perspective and goal of increasing customer loyalty.
Can you think of examples?
Positioning
Positioning is the placement of a product or service offering in the minds of a selected target market.
Perceptual Mapping
is the means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in consumers’ minds.
Perceptual Mapping cont…
Repositioning
Repositioning is changing consumers’ perceptions of a brand in relation to competing brands.
Starbucks Repositioning
URL: https://www.youtube.com/watch?v=LnA7n9qSB7E
On Wednesday
Segmenting, Targeting and Positioning (Part 2)
