Market segmentation, targeting, positioning, and differentiation are key elements of a customer-driven marketing strategy. Segmentation involves dividing the market into distinct groups with unique needs. Targeting evaluates segment attractiveness and selects which to enter. Differentiation creates superior customer value for the targeted segments. Positioning arranges the offering in customers' minds relative to competitors. Effective segmentation is measurable, accessible, differentiable, and allows for actionable programs for each segment. Common bases for consumer segmentation include geographic, demographic, psychographic, and behavioral factors. When targeting, companies evaluate segment size, growth, and attractiveness as well as their objectives and resources to select segments. Targeting can be undertaken through undifferentiated, differentiated, concentrated,
Segmentation, targeting, positioning and differentiation of servicesPROF.JITENDRA PATEL
This Presentation discusses critical issue of marketing which are segmentation, Targeting, Positioning and Differentiation of Services. The topic include
Marketing Segmentation Definition
1.1 Need for Segmentation
1.2 Quality of Good Segmentation
1.3 Basis of Segmentation
1.4 Service Attributes and Levels
1.5 Developing Right Service Concept for a Specific Segment
1.6 Important vs. Determinant Attributes
1.7 Establishing Service Levels
2. Target market strategies
3. Positioning and its example
3.1Elements of Positioning
3.2 Types of Positioning
3.3 Developing an Effective Positioning Strategy
3.4Using Positioning Maps to Analyze Competitive Strategy
4. Differentiation of Service
4.1 The 5 Market Differentiation Strategies
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
Segmentation, targeting, positioning and differentiation of servicesPROF.JITENDRA PATEL
This Presentation discusses critical issue of marketing which are segmentation, Targeting, Positioning and Differentiation of Services. The topic include
Marketing Segmentation Definition
1.1 Need for Segmentation
1.2 Quality of Good Segmentation
1.3 Basis of Segmentation
1.4 Service Attributes and Levels
1.5 Developing Right Service Concept for a Specific Segment
1.6 Important vs. Determinant Attributes
1.7 Establishing Service Levels
2. Target market strategies
3. Positioning and its example
3.1Elements of Positioning
3.2 Types of Positioning
3.3 Developing an Effective Positioning Strategy
3.4Using Positioning Maps to Analyze Competitive Strategy
4. Differentiation of Service
4.1 The 5 Market Differentiation Strategies
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like).
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.
Segmentation, Targeting, positioning, differentiation, bases of segmentation, advantages of segmentation, types of targeting, Steps in Segmentation, Targeting, and Positioning
Define conflict and conflict behavior in organizations
Distinguish between functional and dysfunctional conflict
Understand different levels and types of conflict in organizations
Analyze conflict episodes and the linkages among them
Explain why conflict arises, and identify the types and sources of conflict in organizations.
Describe conflict management strategies that managers can use to resolve conflict effectively.
Understand the nature of negotiation and why integrative bargaining is more effective than distributive negotiation.
,managing conflict ,politics ,and negotiation
,
capital budgeting
,
concept of capital budgeting
,
the capital budgeting process
,
significance of capital budgeting
,
classification of investment project proposals
,
techniques of capital budgeting
,
types of project
basic organization of computer
,
input unit
,
output unit
,
storage unit
,
arithmetic logic unit (alu)
,
computer codes
,
computer for organization
,
business communication
,
payroll system
,
management information system
operating system
,
os
,
what is an os?
,
types of os
,
logical architecture of a computer system
,
basic task perform by os
,
task switching
,
utility software
,
main functions of an os
,
ddata communications and computer networks
,
basic elements of a communication system
,
coaxial cable
,
star network
,
data transmission media
,
ring network
,
hybrid network
,
completely connected network
,
multi-access bus network
,
network linking devices
,
network interface card (nic)
International Business basic concept of international business
,
approaches to international business/ modes of ent
,
barriers to international business
,
absolute advantage and comparative advantage
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.
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
Key Takeaways:
How to use the Video Matrix
How to use additional "Lenses"
Where to source original video ideas
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.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
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.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
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.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
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
2. Find ways to show EEAT
3. Repurpose across all platforms
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
1. Market Segmentation, Targeting and Positioning
The elements of customer driven marketing strategy
The elements of customer driven marketing strategy are given by the following
figure-
Market segmentation: Market segmentation involves dividing a market
into smaller groups of buyers with distinct needs, characteristics, or
behaviors who might require separate products or marketing mixes.
Market targeting: Market targeting (or targeting) consists of evaluating
each market segment’s attractiveness and select one or more market
segments to enter.
Differentiation: Differentiation involves actually differentiating the firm’s
market offering to create superior customer value.
Positioning: Positioning consists of arranging for a market offering to
occupy a clear, distinctive, and desirable place relative to competing
products in the minds of target consumers.
Select customers to serve
Segmentation
Divide the total market
into smaller segments
Targeting
Select the segment or
segments to enter
Create value of
targeted customers
Decide on a value proposition
Differentiation
Differentiation the market offering
to create superior customer value
Positioning
Position the market offering in the
minds of target customers
2. Requirements for Effective Segmentation/ What are the criteria used for
effective market segmentation
Requirementsfor Effective Segmentation: Clearly, there are many for segment a
market, but not all segmentations are effective. For example, buyers of table salt
could be divided into blond and brunette customers. But hair color obviously does
not affect the purchase of salt. To be useful market segment must be;
1. Measurable: The size, purchasing power and profiles of the segments
can be measured. Certain segmentation variables are difficult to
measure. For example, there are 32.5 million left-handed people in
United States—almost equaling the entire population of Canada. Yet
few products are targeted toward this left-handed segment.
2. Accessible: The market segment can be effectively reached and served.
Suppose a fragrance company finds that heavy users of its brand are
single men and women who stay out late and socialize a lot.
3. Differentiable: The segments are conceptually distinguishable and
respond differently to different marketing mix elements and programs.
If married and unmarried women respond similarly to a sale on
perfume, they do not constitute separate segments.
4. Actionable: Effective programs can be designed for attracting and
serving the segments. For example, although one small airline identified
seven market segments, its staff was too small to develop separate
marketing programs for each segment.
3. The bases/ basis of segmenting consumer market
Market consists of buyers, and buyers differ in one or more ways. They may differ
in their wants, resources, locations, buying attitudes, and buying practices.
1. Segmenting consumer markets: There is no single way to segment a
market. A marketer has to try different segmentation variables, alone and
in combination, to find the best way to view the market structure. The
major variable which is used in segmenting consumer markets is given
below;
a. Geographic segmentation: Geographic segmentation calls for dividing the
market into different geographical units such as nations, regions, states,
countries, cities, or even neighborhoods. A company may decide to operate
in one or a few geographical areas, or to operate in all areas but pay
attention to geographical differences in needs and wants.
Nations,
Regions,
States,
Countries,
Cities or even neighborhoods
b. Demographic segmentation: Demographic segmentation divides the
market into groups based on variables such as age, gender, family, size,
family life cycle, income, occupation, education, religion, race, generation
and nationality. Demographic factors are the most popular bases for
segmenting customer groups. It includes—
Age and life-cycle stage: Consumer needs and wants change with
age. Some companies use age and life-cycle segmentation, offering
4. different products or using different marketing approaches for
different age and life-cycle groups.
Gender Segmentation: Gender segmentation has long been used in
clothing, cosmetics, toiletries, and magazines. For example, Proctor
&Gamble was among the first with Secret, a brand specially
formulated for a woman’s chemistry, packaged and advertised to
reinforce the female image.
Income Segmentation: Income segmentation has long been used by
the marketers of products and services such as automobiles,
cosmetics, financial services and travel. Many companies target
affluent consumers with luxury goods and convenience services.
Age
Gender
Family size
Family life cycle
Income
Occupation
Education
Religion
Race
Generation
Nationality
c. Psychographic segmentation: Psychographic segmentation divides into
different groups based on social class, lifestyle, or personally
characteristics. People in the same demographic group can have very
different psychographics makeup.
Social class,
Lifestyle,
5. Personality
d. Behavioral Segmentation: Behavioral segmentation divides buyers into
groups based on their knowledge, attitudes, uses or responses to a
product. Many marketers believe that behavior variables are the best
starting point for building market segments.
Occasion Segmentation: Occasion segmentation divides a market into
groups according to occasions when buyers get the idea to buy, actually
make their purchase, or use the purchased item. For example, eggs are
most often consumed at breakfast. But he American Egg Board, with its
“incredible, edible egg” theme, promotes eating at all times of the day.
Benefit Segmentation: BenefitSegmentation divides a market into groups
according to the different benefits that consumers seek from the product.
Benefit segmentation requires finding the major benefits people who look
for in the product class, he kinds of people who look for each benefit, and
the major brands that deliver each benefit.
user status
usage rate and
Loyalty status. Etc.
The bases/ basis of segmenting consumer market
Segmenting business markets: Consumer and business marketers use many of
the same variables to segment their markets. Business buyers can be segmented
geographically, demographically (industry, company size), or by benefits sought,
user status, usage rate and loyalty status. Yet, business marketers also use some
6. additional variables, such as customer operating characteristics, purchasing
approaches, situational factors, and personal characteristics. By going segments
instead of the whole market, companies can deliver just the right value
proposition to each segment served and capture more value in return.
Market targeting, criteria of evaluating target market
How you will evaluate and select a target market segment? / Criteria of
assessing each market segment attractiveness.
Market targeting: Market targeting (or targeting) consists of evaluating each
market segment’s attractiveness and select one or more market segments to
enter.
Market segmentation reveals the firm’s market segment opportunities. The firm
now must evaluate the various segments and decide how many and which
segments it can serve best. We now look at how companies evaluate and select
market segments.
Evaluate Market Segments: In evaluating different market segments, a
firm must look at three factors;
Segment size and growth.
Segment structural attractiveness.
Company objectives and resources.
The company must first collect and analyze data on current segment
sales, growth rates, and expected profitability for various segments. It will be
interested in segments that have the right size and growth characteristics.
7. Target market coverage strategies/Market targeting can be carried out at
several different levels. (what are the levels)
After evaluating different segments, the company must now decide which and
how many segments it will target.
Target market: A target market consists of a set of buyers who share common
needs or characteristicsthat the company decides toserve. Markettargeting can
be carried out at several different levels.
a) Undifferentiated marketing: Undifferentiated (mass marketing) is a
market-coverage strategy in which a firm decides to ignore market
segment differences and go after the whole market with one offer. This
mass marketing strategy focuses on what is common in the needs of
consumers rather than on what is different. The company designs a
product and a marketing program that will appeal to the largest number
of buyers.
b) Differentiated Marketing: Differentiated marketing (segment
marketing) is a market-coverage strategy in which a firm decides to
target several market segments and designs separate offers for each.
General motors try to produce a car for every “purse, purpose, and
personality.”
c) ConcentratedMarketing: Concentrated marketing is a market-coverage
strategy in which a firm goes after a large share of one or a few
segments or niches. It is especially appealing when company resources
are limited. Instead of going after a small share of a large market, the
firm goes after a large share of one or a few smaller segments or niches.
8. Micro marketing: Micro marketing is the practice of tailoring products
and marketing programs to suit the tastes of specific individuals and
locations. Rather than seeing a customer in every individual, micro
marketers see the individual in every customer. Micro marketing
includes local marketing and individual marketing.
Local marketing: Local marketing involves tailoring brands and
promotions to the needs and wants of local customer groups—cities,
neighborhoods, and even specific stores.
Individual marketing: Individual marketing—tailoring products and
marketing programs to the needs and preferences of individual
customers. Individual marketing has also been labeled one-to-one
marketing, mass customization, and markets-of-one marketing.