Segmentation, Targeting and Positioning (STP)RitikaSingh267
STP -
1. Segmentation - Market segmentation is the process of
dividing a target market into smaller, more
defined categories.
It segments customers and audiences into
groups that share similar characteristics
such as demographics, interests, needs, or
location.
2. basis of segmentation - a) Demographics b) Geographic c) Psychographic d) Behavioral e) Benefit segmentation.
3. Advantages of segmentation - Helps distinguish one customer group from another within a given market.
Facilitates proper choice of target market.
Facilitates effective tapping of the market.
Helps divide the markets and conquer them.
Helps crystallize the needs of the target buyers.
Makes the marketing effort more efficient and economic.
4. Examples -
5. Effective market segmentation - Measurability (In terms of size and purchasing power)
Accessibility (Reached and served through suitable means of distribution of promotion)
Substantiality (Large and profitable)
Differentiability (Clearly distinguishable)
Action ability (To be effective makers of segmentation should be compatible with the manpower, financial and managerial resources)
6. Targeting - Targeting is a strategy that breaks a large market into smaller
segments to concentrate on a specific group of customers
within that audience.
Instead to trying to reach an entire market, a brand uses target
marketing to put their energy into connecting within a
specific, defined group within that market.
7. Targeting strategy - Undifferentiated Strategy
Concentrated Strategy
Differentiated Strategy
Micro – marketing Strategy
8. Mckinsey matrix
9. Positioning - Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness.
10. Why positioning? - To create a distinct place of product & service or corporate in the minds of customer.
To provide a competitive edge to a product or an attempt to convey attractiveness of the product to the target market.
To give the target market reason of buying our product/service and then formulation of all strategies according to the customer perception.
11. Strategies of positioning
12. Final steps of framework - Symbolic positioning
Functional positioning
Experiential positioning
13. example of coca cola vs pepsi
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
Leveraging secondary brand associations to build brand equity
Content Extracted from “Strategic Brand Management” 3rd Edition
Authors: Kevin Lane Keller
M.G. Parameswaran
Issac Jacob
Presentation developed from SLIM Diploma In Brand Management Students
Presentation developed by Leroy J. Ebert (17th May 2014)
http://www.saharconsulting.com
What is #Marketing, Marketing Mix, and why care about it?
How to select customers to serve? What is #Branding & Positioning strategies? SWOT Analysis
What is your Vision/ Mission? Who is your audience? What is your Value Proposition - #USP? Elevator Pitch?
Segmentation, Targeting and Positioning (STP)RitikaSingh267
STP -
1. Segmentation - Market segmentation is the process of
dividing a target market into smaller, more
defined categories.
It segments customers and audiences into
groups that share similar characteristics
such as demographics, interests, needs, or
location.
2. basis of segmentation - a) Demographics b) Geographic c) Psychographic d) Behavioral e) Benefit segmentation.
3. Advantages of segmentation - Helps distinguish one customer group from another within a given market.
Facilitates proper choice of target market.
Facilitates effective tapping of the market.
Helps divide the markets and conquer them.
Helps crystallize the needs of the target buyers.
Makes the marketing effort more efficient and economic.
4. Examples -
5. Effective market segmentation - Measurability (In terms of size and purchasing power)
Accessibility (Reached and served through suitable means of distribution of promotion)
Substantiality (Large and profitable)
Differentiability (Clearly distinguishable)
Action ability (To be effective makers of segmentation should be compatible with the manpower, financial and managerial resources)
6. Targeting - Targeting is a strategy that breaks a large market into smaller
segments to concentrate on a specific group of customers
within that audience.
Instead to trying to reach an entire market, a brand uses target
marketing to put their energy into connecting within a
specific, defined group within that market.
7. Targeting strategy - Undifferentiated Strategy
Concentrated Strategy
Differentiated Strategy
Micro – marketing Strategy
8. Mckinsey matrix
9. Positioning - Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness.
10. Why positioning? - To create a distinct place of product & service or corporate in the minds of customer.
To provide a competitive edge to a product or an attempt to convey attractiveness of the product to the target market.
To give the target market reason of buying our product/service and then formulation of all strategies according to the customer perception.
11. Strategies of positioning
12. Final steps of framework - Symbolic positioning
Functional positioning
Experiential positioning
13. example of coca cola vs pepsi
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
Leveraging secondary brand associations to build brand equity
Content Extracted from “Strategic Brand Management” 3rd Edition
Authors: Kevin Lane Keller
M.G. Parameswaran
Issac Jacob
Presentation developed from SLIM Diploma In Brand Management Students
Presentation developed by Leroy J. Ebert (17th May 2014)
http://www.saharconsulting.com
What is #Marketing, Marketing Mix, and why care about it?
How to select customers to serve? What is #Branding & Positioning strategies? SWOT Analysis
What is your Vision/ Mission? Who is your audience? What is your Value Proposition - #USP? Elevator Pitch?
After reading this chapter, students should:
Know how consumer characteristics influence buying behavior
Know what major psychological processes influence consumer responses to the marketing program
Know how consumers make purchasing decisions
Know how marketers analyze consumer decision making
This was a presentation I gave in my marketing class in Presidio Graduate School. It was on several chapter 10 concepts from Kottler and Keller's book, "Marketing Management". This presentation was created by Ian Bevan and it covers product differentiation and the product life cycle concept
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A marketing segment is a meaningful buyer group having similar wants. Market segment is the portion of the market defined on the basis of the shared characteristics of people it covers. It the process of grouping buyers into different categories having common desires or needs. It is the strategy that subdivides the target market into sub-groups of consumers with definable, distinct and homogeneous characteristics with a view to develop marketing programmes for each sub-group in order to enhance satisfaction to consumers and profit to the marketer.
Digital Money Maker Club – von Gunnar Kessler digital.focsh890
Title One is a comprehensive examination of the impact of digital technologies on
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How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
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Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
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5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
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Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
SEO as the Backbone of Digital MarketingFelipe Bazon
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
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Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
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Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
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Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Your Path to Profits - The Game-Changing Power of a Marketing OS for Your Bus...
Identifying market segments and targets
1. Chapter 8Chapter 8
Identifying Market Segments &Identifying Market Segments &
TargetsTargets
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1. Fedrian Eka Putra 82231453111. Fedrian Eka Putra 8223145311
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2. Identifying Market
Segments
The Company can not relate to all of its
customers in a large market, a broad and
diverse
Companies can divide the market into
consumer groups (segments) with different
needs and desires
Companies must identify which segments can
be served effectively and profitably
3. Mass Marketing
Mass marketing: one product for all buyers
mass marketing company doing the
production, distribution, mass promotion all
consumers.
Mass marketing is popular because: a large
potential market, low production costs, the price
to consumers cheap / affordable
4. Market Segments
• Market segments : a group of customers who have a similar set of
needs and wants
• Task marketers: not invent, but to identify and decide which
segments are targeted
• Advantages :
1. Designing, pricing, release and deliver products / services to better
2. Customize programs and marketing activities to beat competitors
Marketing flexible market :
1. Naked solution: contains the products / services that are appreciated
all member segments
2. Options Open: Appreciated several segments members
The determination of the character of market segments :
1. Preferences homogeneous: When all consumers have the same
preferences
2. Preferences diffused: Consumers have varying preferences
3. Preferences group: resulting from market segments of consumer
groups with similar preferences
5. Niche Marketing
A niche is a more narrowly
customers who are looking
for a mix of different benefits
A niche is subsegment
Interesting niche:
1. Customers are willing to
pay more
2. Size, earnings and growth
potential
3. Not pull the other
competitors
4. Certain economy through
specialization
6. Local Marketing
Local marketing: marketing
objectives that are tailored
specifically to the needs and
wishes of local customers
Grass roots marketing:
marketing activities to as
close as possible and relevant
as possible with individual
customers
7. Individual Marketing
• Now customers began to take a
more individual initiative in
determining what to buy and how.
They went into the Internet,
searching for information and
evaluation of product or service,
engage in dialogue with suppliers,
users, and critics of the product,
and in many cases, designing a
product they want
8. Basic Consumer Market
Segmentation
1. Geographical segmentation
2. Demographic segmentation (age
and stage of life cycle, life stage,
gender, income, generation, social
class)
3. Psychographic segmentation
(combined Psychological &
Demography)
4. Behavioral segmentation (based on
consumer behavior)
9. Geographical Segmentation
Geographical segmentation
requires the division of the
market into various
geographic units such as the
State, state, region, district,
city, or neighborhood.
10. Demographic segmentation
In demographic segmentation, it divide the market
into groups based on variables such as age, life stage,
gender, income, etc.
11. Psychographic segmentation
Psychographic is the
science of using
psychology and
demographics in order to
better understand the
consumer. In
psychographic
segmentation, buyers are
divided into various groups
based on the nature of
psychological /
personality, lifestyle, or
value
13. Behavourial Segmentation
In behavioral
segmentation,
marketers divide
into several groups
based on
knowledge,
attitude, use of, or
response to a
product.
14. Behavourial Segmentation
Many marketers believe
that behavioral variables:
1. The occurrence: can be
defined based on the
time of day, month and
year.
. The benefits: not everyone
who buys a product
wants the same benefits
of the product.
15. 3. User Status: all products
have non-users, ex-users,
potential users, users first, and
regular users.
4. The level of use: the market
can be segmented into user-
class products light, medium,
and heavy.
16. 5. Loyalty Status
a. loyalist weight:
consumers who only buy
one brand over time.
b. loyalists were divided:
consumers loyal to two or
three brands
17. c. loyalists shifting: the loyalty
of consumers who switch
from one brand to another
brand.
d. The people who like to
move: consumers who do
not show loyalty to any
brand.
18. 6. Attitudes
There are five attitudes in the product are: Enthusiastic,
positive, apathetic, negative and aggressive.
Model Conversion: measure the strength of consumer
psychological commitment to the brand and their openness
to change.
19. Basic Market
Segmentation Business
We can segment the business market with some of the
same variables that we use in the consumer market,
such as geography, benefits sought, and the level of
use, but business marketers are also using other
variables.
21. Determination of the
target market
After the company identifies opportunities its market
segment, the company must decide how many and
which segments should be targeted.
There are two additional considerations in evaluating
and selecting segments, namely:
1. The invasion plan segment-by-segment.
2. The ethical choice target market