Unit2 market segmentation
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The document discusses key concepts in market segmentation, targeting, and positioning. It defines markets and their requirements, and outlines the process companies use to segment markets, evaluate segments, select target markets, and develop positioning strategies. This includes identifying appropriate segmentation variables, developing market segment profiles, and selecting positioning bases to communicate a desired position to consumers. The document also discusses repositioning strategies when companies aim to change consumer perceptions of a brand.
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Unit2 market segmentation
- 1. Unit 2 Principles of Marketing Segments,targets and positioning Subhajit Sanyal 8 –
- 4. Target Market Selection Process 8 – FIGURE 7.1
- 5. Targeting Strategies 8 – FIGURE 7.2
- 6. Targeting Strategies 8 – FIGURE 7.2
- 7. Targeting Strategies 8 – FIGURE 7.2
- 12. Segmentation Variables for Consumer Markets 8 – FIGURE 7.3
- 24. Three Types of Targeting Strategies 8 –
- 25. Variables for Segmenting Business Markets 8 –
- 26. Positioning 8 – Developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general.
- 28. Position 8 – The place a product, brand, or group of products occupies in consumers’ minds relative to competing offerings.
- 29. Product Differentiation 8 – A positioning strategy that some firms use to distinguish their products from those of competitors.
- 31. Keys to successful positioning 8 – Consistency Clarity Credibility Competitiveness Successful positioning
- 32. Perceptual mapping to establish (product) position 8 – Perceptual mapping is a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers’ minds.
- 35. Perceptual Mapping – Levi’s 8 – Red Tab Basics High Price Low Price Classic Designer Old product New product Vintage Red Line Silver Tab Slates Dockers Premium Dockers Classics 501 Red Tab Dry Goods L2 Red Tab Elesco
- 39. Step 2: Identify positioning bases 8 – Attribute Price and Quality Use or Application Product User Product Class Competitor Positioning Bases
- 45. Repositioning 8 – Changing consumers’ perceptions of a brand in relation to competing brands. Q: How is repositioning accomplished?
- 47. Repositioning strategies 8 – PRODUCT Same Different TARGET MARKET Same Different Image repositioning Intangible repositioning Product repositioning Tangible repositioning
Editor's Notes
- It helps organize certain types of information in such a way that other strategies such as segmentation and differentiation can be combined into a more effective mktg prog. A pos. strategy can be applied to an individual consumer (eg buyer of a Rolls Royce); or to conventional market segments (eg the shampoo mkt); or to an entire country (eg M&M hawking its RTV and UVs in select African countries) ------ Before pdct position can be determined, the mktr must identify key attitudes and perceptions of the consumer towards the key attributes of a particular product type, class, or brand, relative to compttn.
- These meanings are not inherent in the object itself but are given to it by the culture, by society, by communicators such as advertisers, and by consumers.