The document discusses various concepts related to market segmentation, targeting, positioning, and differentiation. It begins by defining market segmentation as the process of dividing the heterogeneous market into homogeneous subgroups. It then discusses the benefits and implementation of market segmentation. The document also covers topics like mass marketing vs micro marketing, levels of segmentation, bases for segmenting consumer and business markets, and market segmentation in various industries. It discusses the concepts of targeting, positioning, differentiation strategies and their application to products and services.
Identifying Market Segments and Targets
Effective Targeting Requires
Four levels of Micromarketing
What is a Market Segment?
Flexible Marketing Offerings
Preference Segments
Segmenting Consumer Markets
Behavioral Segmentation
The Brand Funnel Illustrates Variations in the Buyer-Readiness Stage
Loyalty Status
Segmenting for Business Markets
Steps in Segmentation Process
Effective Segmentation Criteria
POSITIONING
COMPONENTS OF POSITIONING
MARKET POSITIONING MAP
5 EASY STEPS FOR BRAND POSITIONING
REAL EXAMPLES OF MARKET POSITIONING MAP
TYPES OF MARKET POSITIONING
PRODUCT POSITIONING PROCESS
APPROCHAES TO POSITIONING STRATEGY
Marketing research, Role of Marketing Research and Marketing Research ProcessShashiPrabhat2
Hello, friends
This PPT includes the explanation of Marketing Research, Role of Marketing Research and Marketing Research Process or Steps of Marketing Research.
Here you will get the definition of Marketing Research according to American Marketing Association.
If you are getting any doubt, you email me at: shashiprabhat566@gmail.com
In this part, we define and classify marketing research and set out a six-step marketing research process. We discuss the nature and scope of marketing research and explain its role in decision support system.
Generate greater customer satisfaction
• Create savings
• To identify strategic opportunities and niches
• Increase marketing effectiveness
• Allocation of marketing budget
• Adjustment of product to the market need
• To estimate the level of sales in the market
• To overcome competition effectively
• To develop effective marketing programmers
• To contribute towards achieving company goals
• To develop marketing activities
Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
Product, Services, and Brands - Building Customer Value - MarketingFaHaD .H. NooR
What Is a Product?
Product and Services Decisions
Branding Strategy: Building Strong Brands
Services Marketing
A Product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want
Experiences represent what buying the product or service will do for the customer
This is a powerpoint presentation designed to be used in a Business Class. The focus of this presentation is on a Target Market and How to determine a Target Market. This presentation was desinged for educational purposes.
Identifying Market Segments and Targets
Effective Targeting Requires
Four levels of Micromarketing
What is a Market Segment?
Flexible Marketing Offerings
Preference Segments
Segmenting Consumer Markets
Behavioral Segmentation
The Brand Funnel Illustrates Variations in the Buyer-Readiness Stage
Loyalty Status
Segmenting for Business Markets
Steps in Segmentation Process
Effective Segmentation Criteria
POSITIONING
COMPONENTS OF POSITIONING
MARKET POSITIONING MAP
5 EASY STEPS FOR BRAND POSITIONING
REAL EXAMPLES OF MARKET POSITIONING MAP
TYPES OF MARKET POSITIONING
PRODUCT POSITIONING PROCESS
APPROCHAES TO POSITIONING STRATEGY
Marketing research, Role of Marketing Research and Marketing Research ProcessShashiPrabhat2
Hello, friends
This PPT includes the explanation of Marketing Research, Role of Marketing Research and Marketing Research Process or Steps of Marketing Research.
Here you will get the definition of Marketing Research according to American Marketing Association.
If you are getting any doubt, you email me at: shashiprabhat566@gmail.com
In this part, we define and classify marketing research and set out a six-step marketing research process. We discuss the nature and scope of marketing research and explain its role in decision support system.
Generate greater customer satisfaction
• Create savings
• To identify strategic opportunities and niches
• Increase marketing effectiveness
• Allocation of marketing budget
• Adjustment of product to the market need
• To estimate the level of sales in the market
• To overcome competition effectively
• To develop effective marketing programmers
• To contribute towards achieving company goals
• To develop marketing activities
Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
Product, Services, and Brands - Building Customer Value - MarketingFaHaD .H. NooR
What Is a Product?
Product and Services Decisions
Branding Strategy: Building Strong Brands
Services Marketing
A Product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want
Experiences represent what buying the product or service will do for the customer
This is a powerpoint presentation designed to be used in a Business Class. The focus of this presentation is on a Target Market and How to determine a Target Market. This presentation was desinged for educational purposes.
Various aspects of service marketing in different service sector is focused in the slide. I have tried to inculcate features to help educators and students to understand the various aspects of service marketing.
This I.A was an investigation into a manufacturing company HEXAGON CHEMICALS in South Trinidad.
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Info e tips about pitching, some questions that could be used as a track.
How to find the right market, possibly segmenting it with demographics and psychographics, considering country specific constraint (and issues related to export).
SWOT analysis for target market. How to narrow a market.
Business to business versus business to consumer markets.
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2. Market Segmentation???
-It is the process of disaggregating
the total market for a given product
into a number of sub-markets.
-The heterogeneous market is
divided into a number of relatively
homogeneous units.
3. Need?
• The marketing concept calls for understanding
customers and satisfying their needs better
than the competitors . But different
consumers have different trends, and it rarely
is possible to satisfy all customer by treating
them alike.
4. Mass Marketing
Mass marketing refers to the
treatment of the market as a
homogeneous group and offering
the same marketing mix to all
customers. It allows economies of
scale to be realized through mass Drawback- Customer
needs and preferences
production, mass
differ and at the same
distribution, and mass offering is likely to be
communication. viewed as optimal by
all customers.
5. Micro Marketing
• Micro marketing recognizes the diversity of
customers and does not try to please all of them
with the same offering.
• Objectives:
-Understand the characteristics of the customers.
-Identify the value & profitability of different
segments.
-Identify the size and characteristics of the market in
which they operate.
6. Levels of Segmentation
Mass Marketing
Same product to all consumers
(no segmentation)
Segment Marketing
Different products to one or more segments
(some segmentation)
Niche Marketing
Different products to subgroups within segments
( more segmentation)
Micromarketing
Products to suit the tastes of individuals or locations
(complete segmentation)
7. Steps in Segmentation Process
Identify the target market.
Identify expectations of target audience.
Create Subgroups
Identify suitable marketing mix for each groups.
Find out which group to focus.
Select those segment which offer high potential.
8. Stages of Identifying Market Segments
• The researchers conduct explorative interviews to identify
customer motivations, attitude and behaviour.
Survey
• Researches applies factor analysis to the data to remove
highly correlated variables & then applies cluster analysis to
Analysis create a specified number of maximally different segments.
• Each cluster is profiled in terms of its distinguishing
attitudes, behaviour, demographics ,psychographics, and
Profiling media patterns.
10. Bases for Segmenting Consumer
Markets
Two major Approaches to Segmentation are:
Consumer responses
Consumer characteristics
(Behavioral segmentation)
Demographic
Geographic Psychographic Usage
- Age
- Region - Social Class User status
- Sex
- State Usage rate
- Income Occasions Benefits
- City types - Lifestyle Loyalty status Attitudes
- Occupation
- Density Buyer readiness
- Family size stage
- Personality
- FLC
12. Benefits of Market Segmentation
1. One customer group is distinguished from another within a
given market and this enables to decide which segment of
the market should form as target market.
2. Facilitates in-depth study of the characteristics of the buyers.
3. Help the marketing man to develop the marketing programme on
a predictable and reliable base.
4. More suitable ‘marketing offers’ for a particular segment is easily
developed.
5. Suitable marketing mix is achieved.
6. Due to concentrated efforts most productive and profitable
segments of markets are achieved.
7. Its helps to asses competitor’s stand in the market.
8. Customer and companies choose each other for mutual benefit
and satisfaction.
14. Market segmentation in
various industries
• SOAP INDUSTRY
LAUNDRY SOAP.
SPECIAL LAUNDRY SOAP.
LOW GRADE TOILET SOAP.
PREMIUM YOILET SOAP.
TOILET SOAPS FOR STORES, OFFICES AND RESTAURANTS.
INDUSTRIAL SOAP.
• WATCH INDUSTRY
GEOGRAPHIC LOCATION OF CUSTOMERS.
LIFE STYLE PATTERN.
BASED ON AGE.
BASED ON GENDER.
BASED ON INCOME.
15. • INDIAN CAR INDUSTRY
ECONOMY SEGMENT
MID-SIZED SEGMENT
LUXURY SEGMENT
SUPER LUXURY SEGMENT
16. DIFFERENT TYPES OF
SEGMENTATION
• PURCHASE OCCASION SEGMENTATION
• DIVIDE CUSTOMERS ON THE BASIS OF THE REASON BEHIND THEIR PURCHASE.
• USER STATUS SEGMENTATION
DIVIDE CUSTOMER BASED ON THEIR USAGE OF A PRODUCT OR SERVICE AND THE
PATTERN OF USAGE.
USAGE RATE SEGMENTATION
DIVIDE CUSTOMERS BASED ON THE FREQUENCY OF USAGE OF A PRODUCTOR SERVICE.
IT DIVIDES THE USER MARKET INTO LIGHT, HEAVY,AND MEDIUM USER GROUPS
17. .
• LOYALTY SEGMENTATION
DIVIDES CUSTOMERS ON THE BASIS OF THEIR LOYALTY
TOWARDS A CERTAIN PRODUCT OR SERVICE.
• TECNOGRAPHIC SEGMENTATION
IDENTIFICATION OF SEGMENTS BASED ON THE INTERACTION
OF THREE VARIABLES.
THESE ARE ATTITUDE TOWARDS TECHNOLOGY, APPLICATION
OF TECHNOLOGY, AND THE FINANCIAL POSITION OF THE
CONSUMERS.
18. POSITIONING
• POSITIONING IS THE ART OF DESIGNING COMPANY’S OFFERING
AND IMAGE TO OCCUPY A DISTINCTIVE PLACE IN THE TARGET
MARKET’S MIND…
• THE POSTION OF BRAND IS THE PERCEPTION IT BRINGS ABOUT
IN THE MIND OF THE TARGET CUSTOMER.
PRINCIPLES OF POSITIONING
• IT IS BETTER TO BE FIRST THAN TO BE LATE.
• IN CASE, IT IS NOT THE FIRST, THEN THE COMPANY SHOULD BE
ABLE TO CREATE A NEW CATEGORY BY MAKING AT LEAST A
SMALL CHANGE IN THE MARKETING MIX ELEMENTS.
• IT IS IMPORTANT TO UNDERSTAND THE POSITION AND
STRATEGIES OF THE COMPETITORS.
• POSITIONING USING AN EASY NAME. EG:L G.
19. POSITIONING ERRORS
• UNDER POSITIONING.
• OVER POSITIONING.
• CONFUSED POSITIONING.
• DOUBTFUL POSITIONING
POSITIONING STRATEGIES
• ATTRIBUTE POSITIONING.
• BENEFIT POSITIONING.
• USE OR APPLICATION POSITIONING.
• USER POSITIONING.
• COMPETITOR POSITIONING.
• PRODUCT CATEGORY POSITIONING.
• QUALITY OR PRICE POSITIONING.
• POSITIONING IN RTELATION TO A TARGET MARKET.
20. HOW TO POSITION THE BRAND
Perceptual Mapping
This technique involves studying the consumer’s perception of the product
and competitor’s brands and based on it identifying the vacant slots.
This involves
1. Studying the ideal product perception –studying both tangible and
intangible attributes that a customer look while buying a product.
2. Get the customers to rank these attributes in the order of importance to
them.
3. Customer’s knowledge of the competitors brands.
4. Based on these assessment of competitor brands on the ideal product
map ,identify the vacant slots&build the position strategy to filling these
up.
21. COMMON POSITIONING STRATEGIES
IN THE CONSUMER DURABLE SECTOR
• 1. Benefit or use positioning:-The positioning strategies adopted by
consumer durable companies depend a lot on ‘usage’ , ‘economy’ and
‘corporate identity’ of which a well established brand surely projects
the identity of the product in terms of which corporate house the
product is form.
• 2. Competitor related positioning:-This is the strategy of placing a
firm’s brand next to the leader in the market and trying to uproot it on a
specific tangible variable.
• 3. Lifestyle positioning:-A firm could even position the brand as a
lifestyle contemporary or futuristic.
• 4. Positioning by corporate identity:-This type of positing is seen very
much with consumer durables when a tried and trusted corporate
identity .
• 5. Surrogate positioning:- Here the product can’t be positioned
differently on the basis of attributes but differentiated by positioning
them on the surrogates for the attributes.
22. POSITIONING PARADIGMS
Monopolistic competition prevails in the contemporary markets. Product
differentiation and price differentiation are the main features of
monopolistic competition. The marketer must reinterpret the product
differentiation as a meaningful consumer benefit.
Competitive Company Competitor Importance Affordability Competitors Recom-
advantage standing standing of imprvg & speed ability to mended
std imprv action
standing
Technology 8 8 L L M Hold
Cost 6 8 H M M Monitor
Quality 8 6 L L H Monitor
Service 4 3 H H L Invest
23. Advantages
1.It helps to focus the product on a specific target customer.
2.It offers the product a new appeal in the market.
3.A distinctive place could be occupied in the target market.
4.Successful creation of the market.
Disadvantages
1.It is not possible to offer a product wholly for a specific type of customer.
2.The wrong positioning affects a number of products.
24. POSITIONING OF SERVICES
• Because of intangibility and other features associated with the
services, consumers find that differentiation of services is more difficult and
complex.
• Positioning involves giving the target market segment the reason for buying
the services and thus underpins the whole marketing strategy.
Some specific strategies are:-
1. Attribute positioning:-A service provider positions itself based on an attribute or a feature.
2. Benefit positioning:-Most service providers resort to benefit positioning as the general
psyche of the customer is to analyze the benefit that he derives by using a particular
service.
25. Contd…
3.Use or application positioning:-The service is positioned as the best
for a certain application.
4.User positioning:-The service is positioned for a specific target group
of users.
5.Competitor positioning:-The service is positioned by the provider
against a competitor’s service offering.
6.Catogory positioning:-The service provider positions itself as the
category leader and becomes synonymous with the service.
7.Quality or price positioning:-A service is positioned in the market as
possessing a certain quality standard at a particular price.
26.
27. DIFFERENTIATION IS
THE ACT OF DESIGNING
A SET OF MEANINGFUL
DIFFERENCE TO
DISTINGUISH THE
COMPANY’S OFFERING
FROM COMPETITOR’S
OFFERINGS….
28. DIFFERENTIATION VARIABLES
FORM
FEATURES
PERFORMANCE QUALITY
CONFORMANCE QUALITY
DURABILITY
RELIABILITY
REPAIRABILITY
STYLE
DESIGN
30. DIFFERENTIATION IN SERVICES
IT MEANS PROVIDING
MEANINGFUL CHANGES IN
SERVICE OFFER THAT ADD
VALUE TO THE CUSTOMER AND
ARE CAPABLE OF GENERATING
QUALITY PERCEPTIONS THAT
DISTINCT FROM COMPETITIVE
OFFERS….
32. BASIC SERVICE PACKAGE(BSP)
QUALITY AND COMPOSITION OF FACILITATING SERVICES
.QUALITY AND COMPOSITION OF SUPPORTING SERVICES
ACCESSIBILITY
THE NUMBER OF CONTACT PERSONNEL
OFFICEC HOURS
TIME TAKEN TO PERFORM TASKS
LOCATION OF THE OUTLETS
EXTERIOR AND INTERIOR OF SERVICE OUTLETS
TOOLS,EQUIPMENT AND DOCUMENTS
CO-CUSTOMERS
INTERACTION
PHYSICAL AND TECHNICAL RESOUCES
SYSTEMS
EMPLOYEES
OTHER CUSTOMERS
34. SERVICE IMAGE
CORPORATE IMAGE
LOCAL IMAGE
SERVICE RECOVERY
TIME
EMPATHY
SERVICE PERSONNEL
COMPETENCE
COURTESY
CREDIBILITY
RELIABILITY
RESPONSIVENESS
COMMUNICATION
EMPATHY