Developing and Implementing a Marketing Plan

Segmenting, Targeting, and Positi…

Transcript

A market segment includes customers who

share similar wants and needs. It is the

marketer's job to identify the segments of

the overall market that he or she wants to

target. Segmenting enables the company to

better design its offerings and to better

price and deliver them. Segmenting also

allows a marketer to fine-tune its marketing

program in comparison to its competitors'

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activities within the same segment.

However, the company still needs to be

flexible with its offering to individual

customers within a certain market segment.

Positioning is the design of the company's

image to occupy a distinct place in the

customers' minds. The company's goal is to

place the brand in its customers' minds to

maximize potential benefits. Solid brand

positioning helps guide the company's

marketing strategy by specifying what the

brand stands for and how the product or

service would satisfy the customers' needs.

In other words, what makes this brand

special? Positioning should clearly define

similarities and differences between brands

and communicate these similarities and

differences to customers (Kotler & Keller,

2015).

References

Kotler, P., & Keller, K. (2015). Marketing

management (15th ed.). Upper Saddle River,

NJ. Pearson

STP in Depth

Market Segmenting,

Targeting, and

Positioning

(https://leocontent.u

mgc.edu/content/sco

r/uncurated/mba/221

8-mba640/learning-

resourcelist/market-

segmentingtargetinga

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Segmenting

Strategic Market

Segmentation

Resources

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Performing Market

Segmentation: A

Performative

Perspective

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The Impacts of A3 on

4Ps

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This article discusses

how marketing

managers can track

and leverage

consumers’ changing

attitudes toward

products relevant to

psychographic

segmentation.

Targeting

Target Market

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Weidmüller, Inc.,

Breaks Away from the

Competition by

Creatively Targeting

Customers' Needs

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Positioning

Writing a Strong

Positioning Statement

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Marketing Mix

Standardization in

Multinational

Corporations: A

Review of the

Evidence

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