Matching positioning with the targeting by following a template

Segmentation:

Characterstic 1: Age, gender, income

The WFCSB should segment its customer base by standard demographic characteristics such as age gender, and income.

Characteristic 2: Location

The WFCSB should segment potential clients based on location. Location is important to look at because of the proximity factor.

Assumption: Businesses in the San Fernando Valley as well as the rest of the greater Los Angeles area will have a much higher familiarity with CSUN, making them more inclined to use the services of the WFCSB

Characteristic 3: type of business, size of business, business pedigree, location of business

The wells Fargo Center should segment potential clients based of the type of business (i.e. service provider, product seller, manufacturer, etc.), the size of the business (big, small, entrepreneur?), and business pedigree (how established is the business?)

Characteristic 4: Community-centric Organizational Culture

The Wells Fargo Center for Small Business and Entrepreneurship should segment potential clients that foster a community-centric culture within its organization.

Assumption: Community-centric business will be more inclined to contribute to the positive development of the community and employ university students and utilize the services and products of other local businesses. Also, these types of businesses are more likely to support local causes for the betterment of the local community.

Characteristic 5: Socially Responsible Organizations

The WFCSB should segment potential clients based upon their socially responsible efforts (labor ethics, environmental policies, human rights, etc.)

Targeting Profile 1: Young (Age 20-35) small business owner/entrepreneur

The Wells Fargo Center for Business should target small business owners and entrepeneursin the Los Angeles area that arerelatively unestablished and have minimal resources in marketing. This can include startup companies or other relatively new businesses.

Assumption: Younger, less experienced business owners and entrepeneurs will be eager to take advantage of the free services being offered by the WFCSBE.

Profile 2: Older (Age 35+) business owner

An additional target should be older, wealthier small business owners of more established companies in the Los Angeles area who are looking for some youthful invigoration to ignite their respective businesses.

Assumption: This target will be interested in the services of the WFCSBE not necessarily because of the affordability, but instead because they are looking for fresh marketing concepts and are also concerned with giving back to the community.

Positioning:

The Wells Fargo Center for Business should position itself as a provider of quality and affordable consulting services for small business owners and entrepreneurs in the Los Angeles area.

Identifying the sequence of benefits for each target segment enabled the identification of the significance of each benefit. However, because the market is segmented into different customers, their interests, needs, and expectations are different from each other and as such, different positioning is necessary to satisfy each segment.

Age, gender, and income

For this segment, the organization would be aiming to appeal to the different ages of the people, genders, and the level of income. Therefore, its positioning strategy should offer invariable benefits to people of all different ages, genders, and income levels. Look at it this way, young people from either gender have low incomes and therefore the organizations need to position it as offering affordable services to the young people so that it can hit to them.

Location

For location purposes, positioning for the organization would focus on its physical accessibility to most of its customers. Well Fargo should position its service centers as readily accessible to all its customers. Accessibility is important to marketing because customers would always want to reduce the distance between them and their service provider. The benefit in this kind of positioning would be cutting accessibility cost and convenience to the customers.

Type of business

The organization should look at its customers in terms of the kind of businesses they do because different business operators will need he services at varied timings and frequency. Therefore, it would be easier to address each client unique needs when their line of business is well known.

Community centric-organizational culture

In this case, the organization will look at its clients in terms of how the organization is contributing to the organizational well-being. This parameter would be measured in terms social responsibility programs started by the organization. The organization might also look at the number of people employed by the organization directly and indirectly. Environmental protection as well forms an important indicator of the organization commitment to the community. The organization in this case would position itself as protector and promoter of economic well-being.

The transferred benefit to the Enthusiasts, Environmentalists, and Consumers bound by community regulations varies in terms of the intensity of each benefit transferred; however, the overall benefits remain the same.

Therefore each target segment will not be dealt with individually for the marketing campaign a concentrated marketing strategy will be used.

· The sequence for the marketing strategy is convenience, economic motives and finally environmental concerns.

· Each individual sequence of benefits was analyzed and the mean of these sequences was selected.