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).
Market segmentation is a marketing concept which divides the complete market set up into smaller subsets comprising of consumers with a similar taste, demand and preference.Market segmentation helps the marketers to understand the needs of the target audience and adopt specific marketing plans accordingly. Organizations can adopt a more focused approach as a result of market segmentation.
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).
Market segmentation is a marketing concept which divides the complete market set up into smaller subsets comprising of consumers with a similar taste, demand and preference.Market segmentation helps the marketers to understand the needs of the target audience and adopt specific marketing plans accordingly. Organizations can adopt a more focused approach as a result of market segmentation.
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.
Market segmentation is the practice of dividing your target market into approachable groups. Market segmentation creates subsets of a market based on demographics, needs, priorities, common interests, and other psychographic or behavioral criteria used to better understand the target audience. Splitting up an audience in this way allows for more precisely targeted marketing and personalized content.
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
New product dedisions provide a dear path to the business. New product development
astep by step process. A Complete idea is required behind new product.
1 1deal Generation: The development of a product starts with the concept and idea.
The remaining process is depending on that idea.
2 Screening of Idea: This step is cruial to ensure that unsuitable ideas, for whatever
reason, are rejected as soon as possible. Ideas need to be considered objectively,
ideally by a group or committee.
3. Concept Development and Testing: After having an idea, next is the sreening
stage. The idea should now convert into concept. It has depth information which can
be visualizing by the consumer.
4. Anaysis of business: After finalization of concept, a business case needs to be kept
algTStogether to consider whether the new service /product will be gainful.
2665.Product Development If the nev product is approved, it will be approved to the
2marketing and technical development step.
6. Test Marketing: Market testing (test marketing or) is different to consumer testing.
in that it introduces the product that follows proposed plan of marketing.
od7. Commercialization: When the concept has been tested and developed, final
0decisions are required to move the product to its introduction into the market.
8. Launch: A detailed plan of launch is required for this step. This is the important
stage for success of a product
New Drug Development
So In present business atmosphere, it is more important to take smart decisions for
business. Innovative approaches and new products can put an organization on proper
pathway and to make a big success if appropriately analyzed and executed. Make it simpler
(Fig.2.1).0
Following parameters should keep in mind for a better decision:
Analyzing existing service and product portfolio frequently.
Knowing the position of functions of business, projects of departments and
initiatives.
Understanding the distribution of funds and assessing efficiency.
Having understanding of market for new opportunities and possible competition.
2.B PRODUCT BRANDING, PACKAGING AND LABELLING DECİSIONs
2.8.1 Branding
Branding has its existence from ancient era. According to Nilson (2000), the first example
of branding is found in the oil lamps' manufacture on the Greek islands thousands of years
back. Brand elements are name, sign, term, symbol, design or distinguishing characteristics.
Brand is not only a graphical design or a logo; it is the unique identity of the product.
By American Marketing Association, Brand can be defined as name, term, sign, symbol
or design, or a combination of them intended to identijy the goods and services of one seller or
group of sellers and to diferentiate them from those of other sellersa54
Branding is a process, where a company generates loyalty among consumers in the
market. Brands are designed with a motive to communicate customers the reason for the
existence of their product. Brand should have a strong connection with customers;
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.
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.
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.
Market segmentation is the practice of dividing your target market into approachable groups. Market segmentation creates subsets of a market based on demographics, needs, priorities, common interests, and other psychographic or behavioral criteria used to better understand the target audience. Splitting up an audience in this way allows for more precisely targeted marketing and personalized content.
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
New product dedisions provide a dear path to the business. New product development
astep by step process. A Complete idea is required behind new product.
1 1deal Generation: The development of a product starts with the concept and idea.
The remaining process is depending on that idea.
2 Screening of Idea: This step is cruial to ensure that unsuitable ideas, for whatever
reason, are rejected as soon as possible. Ideas need to be considered objectively,
ideally by a group or committee.
3. Concept Development and Testing: After having an idea, next is the sreening
stage. The idea should now convert into concept. It has depth information which can
be visualizing by the consumer.
4. Anaysis of business: After finalization of concept, a business case needs to be kept
algTStogether to consider whether the new service /product will be gainful.
2665.Product Development If the nev product is approved, it will be approved to the
2marketing and technical development step.
6. Test Marketing: Market testing (test marketing or) is different to consumer testing.
in that it introduces the product that follows proposed plan of marketing.
od7. Commercialization: When the concept has been tested and developed, final
0decisions are required to move the product to its introduction into the market.
8. Launch: A detailed plan of launch is required for this step. This is the important
stage for success of a product
New Drug Development
So In present business atmosphere, it is more important to take smart decisions for
business. Innovative approaches and new products can put an organization on proper
pathway and to make a big success if appropriately analyzed and executed. Make it simpler
(Fig.2.1).0
Following parameters should keep in mind for a better decision:
Analyzing existing service and product portfolio frequently.
Knowing the position of functions of business, projects of departments and
initiatives.
Understanding the distribution of funds and assessing efficiency.
Having understanding of market for new opportunities and possible competition.
2.B PRODUCT BRANDING, PACKAGING AND LABELLING DECİSIONs
2.8.1 Branding
Branding has its existence from ancient era. According to Nilson (2000), the first example
of branding is found in the oil lamps' manufacture on the Greek islands thousands of years
back. Brand elements are name, sign, term, symbol, design or distinguishing characteristics.
Brand is not only a graphical design or a logo; it is the unique identity of the product.
By American Marketing Association, Brand can be defined as name, term, sign, symbol
or design, or a combination of them intended to identijy the goods and services of one seller or
group of sellers and to diferentiate them from those of other sellersa54
Branding is a process, where a company generates loyalty among consumers in the
market. Brands are designed with a motive to communicate customers the reason for the
existence of their product. Brand should have a strong connection with customers;
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.
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.
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.
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
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
[Google March 2024 Update] How To Thrive: Content, Link Building & SEOSearch Engine Journal
March 2024 disrupted the SEO industry. Websites were deindexed, and manual penalties were delivered—all to produce more helpful, more trustworthy search results.
How did your website fare?
Watch us as we delve into the seismic shifts brought about by Google's March 2024 updates and explore strategies to not just survive, but thrive in this dynamic digital landscape.
You’ll learn:
- How to create content that is valuable to users (not just search engines) using E-E-A-T.
- How to build links that can boost rankings and withstand algorithm updates.
- Best practices for content creation and link building so you can thrive during algorithm updates.
With Vince Ramos, we'll examine the implications of the latest algorithm changes on content creation, link building, and SEO practices, and offer actionable insights from businesses like yours that have remained steadfast amidst the volatility.
Using real-life case studies, we’ll also show you the effectiveness of manual link building techniques and person-first content strategies.
Whether you're a seasoned SEO professional, a budding content creator, or anyone in between, this webinar will help you weather the changes in Google's algorithms and capitalize on them for sustained success.
Check out this webinar and unlock the secrets to thriving in the new Google era.
Influencer marketing isn't just for big brands or consumer products anymore. In 2024, marketers face hurdles like escalating paid channel costs, diminishing organic reach, and building trust in their ideal customer accounts. This session offers practical ways to bring influencer marketing into your organization, to provide cost-effective access to niche audiences, countering budget constraints and rising CPMs. We'll discuss the impact of social algorithms on reach, the trust deficit in traditional advertising and how influencer partnerships offer genuine connections with audiences. Attendees will gain actionable insights to integrate influencer marketing into their strategies, leveraging influencers for impactful campaigns in both B2B and B2C environments. Join us to unlock the potential of influencers in navigating the evolving marketing landscape of 2024 and driving meaningful business growth.
Key Takeaways:
- Educate on the various types of influence we can use as marketers
- Establish the problems that make influencers a priority
- Walk through some practical tactics on HOW to run a program leveraging several of these influence channels
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.
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
First Things First: Building and Effective Marketing Strategy
Too many companies (and marketers) jump straight into activation planning without formalizing a marketing strategy. It may seem tedious, but analyzing the mindset of your targeted audiences and identifying the messaging points most likely to resonate with them is time well spent. That process is also a great opportunity for marketers to collaborate with sales leaders and account managers on a galvanized go-to-market approach. I’ll walk you through the methods and tools we use with our clients to ensure campaign success.
Key Takeaways:
-Recognize the critical role of strategy in marketing
-Learn our approach for building an actionable, effective marketing strategy
-Receive templates and guides for developing a marketing strategy
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
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
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.
As the call for for skilled experts continues to develop, investing in quality education and education from a reputable https://www.safalta.com/online-digital-marketing/best-digital-marketing-institute-in-noida Digital advertising institute in Noida can lead to a a success career on this eve
2. After this session, you will be able to:
• Understand how marketers use the
concept of Divide & Conquer
(Segmentation) to create value.
• Decide which bases of segmentation to
be used for segmenting the market for
different kind of products.
• Understand how companies decide which
segments to target for marketing efforts.
Learning Outcomes
3. Learning Outcomes
Analyzing the concept of consumer market
segmentation
Evaluate the process of segmenting the market
and requirements for effective segmentation.
Evaluating the concept of market targeting and
positioning
Analyzing the aspects of differentiation for
effective product positioning.
4. 7/18/2017 4
What is Market?
• In narrow view, market is the place where buying and selling for
needs and wants for getting satisfaction is performed.
• According to American Marketing Association “A market is the
aggregate demand of the potential and existing buyers of a
product.”
• In broad sense market is a group of customers with need to
satisfy, money to spend and willingness or desire to spend
money to create exchange relationship.
• Market is the number of people who have some need and
want, have resources, and are also willing to participate in
a mutually satisfying transaction.
5. Background
• Companies cannot connect with all customers in large,
broad, or diverse markets.
• But they can divide such markets into groups of
consumers or segments with distinct needs and wants.
• This decision requires a keen understanding of
consumer behavior and careful strategic thinking.
• To compete more effectively, many companies are now
embracing target marketing.
• Instead of scattering their marketing efforts, they’re
focusing on those consumers they have the greatest
chance of satisfying.
6. • Effective target marketing requires that
marketers:
1. Identify and profile distinct groups of buyers
who differ in their needs and wants (market
segmentation).
2. Select one or more market segments to enter
(market targeting).
3. For each target segment, establish and
communicate the distinctive benefit(s) of the
company’s market offering (market positioning).
8. MARKET SEGMENTATION
➢Market segmentation is based on fact that
markets are heterogeneous & not homogeneous.
➢Homogeneous market refer to a market
situation where the prospective buyers of any
product are found to be uniform in their needs,
habits, choices, nature, etc.
➢Heterogeneous market refer to a market
situation where the prospective buyers of any
product are not found homogeneous in their
needs, habits, choices, nature, etc.
9. DEFINITION
Acc to William J. Stanton
➢“ Market Segmentation consist of taking the
total heterogeneous market for a product &
dividing it into several sub markets or segments
each of which tends to be homogeneous in all
significant aspects.
Acc to Philip Kotler
➢Market segmentation is the sub-dividing of a
market into homogeneous subset of consumers ,
where any subset may conceivably be selected
as a market target to be reached with a distinct
marketing mix.
10. OBJECTIVES OF M.S
➢To make grouping of customers on the basis
of their homogeneous characteristics.
➢To identify the needs, tastes, buying-motives
of target customers.
➢To determine marketing strategies, targets &
goals of the firm.
➢To make the activities of the firm
consumer oriented.
➢To identify the areas where the customers may be
created and market area can be expanded.
The main aim of market segmentation is to prepare
separate marketing programmes or strategies for each
segment so that maximum satisfaction to consumers
of different segments may be provided.
12. • Above figure shows three major steps in target
marketing. The first is market segmentation- dividing
a market into smaller groups of buyers with distinct
needs, characteristics, or behaviors who might require
separate products or marketing mixes.
• Second step is target marketing- evaluation each
market segments' attractiveness and selecting on or
more of the segments to serve on.
• The last on is market positioning- setting the
competitive positioning for the product and creating a
detailed marketing mix.
Market
Segmentation
Identify bases for
segmenting market.
Develop segment
profiles.
Market Targeting
Developmeasure of
segment
attractiveness.
Select target segments.
Market Positioning
Developpositioningfor
target segments.
Developa marketing mix
for each segment
7/18/2017 12
14. 7/18/2017 14
Objectives Of market segmentation
• Market segmentation divides a big heterogeneous
market. It helps to collect a detailed information of
every set of customer.
• Firm can do the comparative analysis of market
segment and decides which segment is more profitable
and effective.
• Firm can leave unprofitable market
market segment helps to marketing
segment. So
manager to
identify the possible market opportunities.
1. Identification of market opportunities
15. 7/18/2017 15
Objectives Of market segmentation
• Targeting the market provides details of the customers and
their needs. It helps marketers in production.
• To serve profitable market segment firms should utilize
resource properly. If market is segmented, marketers can
produce the product according to the desire of consumers.
• So the product will meet the demand of the consumers and
there will not be the waste of resource.
2. Optimum utilization of resources
16. 7/18/2017 16
Objectives Of market segmentation
• The objective of market segmentation is to reduce
negative effect of such competition.
• Firm can easily evaluate the market strategies of
competitors if it is segmented.
• Marketers can make better marketing strategies than
competitors in segmented market.
3. Evaluation of competitors
17. APPROACHES OF Market Segmentation
The marketeers adopt several app. To segment a
market.
App. To market segmentation
Mass
Marketing
Product
Differentiation
Marketing
Target
Marketing
18. MASS MARKETING
➢In this total market is considered as one
segment.
➢Under mass marketing only one product is
produced & sold in the market for all customers
with help of common marketing programme.
➢It assumes that there is no significant
difference amongst Consumers in terms of their
need & wants
e.g. coca-cola
19. PRODUCT DIFFERENTIATION
MARKETING
➢In this marketing, marketeers uses product
differentiation app.
➢Once marketeers learnt that consumers would
not accept one quality product, the marketeers
try to provide different size, colours, shapes,
features & qualities in his product for the
public.
➢It provide different product to different
segment
➢E.g. maruti udyog ltd.
20. TARGET MARKETING
➢It defined as a set of actual potential buyers of
a product, service or idea .
➢Target marketing help the marketeer to correctly
identify the market- the groups of consumers for
whom the product is designed.
➢It has 3 steps :-
1.Market segmentation
2.Market targeting
3.Product positioning
25. Bases for Market Segmentation
On the basis of consumer’s
descriptive characteristics (non-
behavioral correlates)
On the basis of consumer responses
(behavioral correlates)
Geographic
Demographic
Psychographic
Socio-economic
Loyal
status
Usage
based
Benefits
Bases of Market Segmentation
26. There is no single way to segment a market.
Marketers has try different segmentation
variables, alone and in combination, to find the
best way to view market structure
Some of the segmentation variable are:
Geographic
Demographic
Psychographi
Behavioralist
c
ic
7/18/2017 26
27. 1. Geographic Segmentation
7/18/2017 27
Geographic segmentation calls for dividing the market
into different geographical units. A company may
decide to operate in one or few geographical areas, or
operate in all areas but pay attention to geographical
differences in needs and wants.
The following are some examples of geographic
variables often used in segmentation.
• Region: by continent, country, state, or even neighborhood
• Size of metropolitan area: segmented according to size of
population
• Population density: often classified as urban, suburban,
or rural
• Climate: according to weather patterns common to certain
geographic regions
28. 7/18/2017 28
2. Demographic Segmentation
• It divides the market in to groups based on variables
such as age, gender, family size and lifecycle, income,
occupation, education religion race generation and
nationality.
• Demographic segmentation is mots popular base for
segmenting customer market groups. Because-
Consumer needs, wants and usage rates often vary closely
with demographic variables.
Demographic variables are easier to measure then most
other types of variables.
Even when marketers first define segments using other
bases, such as benefits sought or behavior, they must know
segment demographic characteristics in order to assess the
size of the target market and to reach it efficiently.
29. • Use Differences in age, gender,
family size, family life cycle, income,
occupation, education, race, and
religion
• Most frequently used segmentation
variable because of ease of
measurement.
• Pampers divides its market into
prenatal, newborn (0-1 month),
infant (2-5 months), cruiser (6-12
months), toddler (13-18 months),
explorer (19-23 months), and
preschooler (24 months +).
2. Demographic Segmentation
30. Demographic Segmentation
Some demographic segmentation variables include:
• Age
• Gender
• Family size
• Family lifecycle
• Generation: baby-boomers, Generation X, etc.
• Income
• Occupation
• Education
• Ethnicity
• Nationality
• Religion
• Social class
7/18/2017 30
34. 3. Psychographic Segmentation
Psychographic segmentation of market consist of following
variables:
•Social class:- lower lowers,
upper lowers, working class,
middle class,
•Lifestyle: achievers, strivers,
strugglers.
•Personality: authoritarian,
ambitious, gregarious
7/18/2017 34
35. Titan
Titan studied the lifestyle of outdoor loving
urban youth.
Titan felt there was an opportunity for a casual
watch thus Titan created a sub-brand Fastrack.
Titan went in for new positioning: Fastrack – cool
watches by Titan.
Advertising, packaging and merchandising were
all different- Young, vibrant and cool- reflecting the
lifestyle based segmentation.
36. 2c. Income
Same income consumer
may own different brands
depending upon lifestyle,
attitude and values.
37. 4. Behavioral Segmentation
7/18/2017 37
Behavioral segmentation is based on actual
customer behavior toward products. The
behavioral variables include:
Occasion: regular, occasion, special
occasion.
Benefits: quality, service, economy, convenience.
User status: nonuser, ex-user, potential user, first time user,
regular user.
User rate: light user, medium user, heavy user.
Loyalty status: none, medium, strong, absolute.
Attitude towards product: enthusiastic, positive, indifferent,
negative, hostile.
38. Segmentation, targeting, positioning in the Market
ing strategy of Adidas
Biggest sportswear manufacturer of Europe and one of the Biggest in
the world.
Adidas is segmented based on demographic, psychographic, behavioural factors.
The Adidas group has four brands in its strong portfolio Reebok, Adidas, Rockport
and taylor made meant for different segment customer groups.
Adidas uses differentiated targeting strategy to target young adults, adults as well
as children who have passion for fitness / sports.
Although it targets customers in the age group of 13-40 years but majority
of its customers are of 15-30 years of age who hail from upper middle class or
the luxury class of customers.
User and benefit based positioning are the strategies Adidas uses to create
distinctive image in the mind of the prospective consumer. By emphasizing
the value of quality products from a trusted brand Adidas is able to maintain its
brand essence. The portfolio is divided as follows:
They have Adidas performance in Competitive sports
Reebok and Reebok classics in Active sports & casual sports
Adidas originals, Adidas fun, Rockport in Sports fashion
39.
40. Step 1. Market Segmentation
Requirements for Effective Segmentation
• Size, purchasing power, profiles
of segments can be measured.
• Segments must be effectively
reached and served.
• Segments must be large or
profitable enough to serve.
Measurable
Accessible
Substantial
Differential
Actionable
• Segments must respond
differently to different marketing
mix elements & actions.
• Must be able to attract and serve
the segments.
41. Step 2. Market Targeting
Evaluating Market Segments
Segment attractiveness (Size, Growth, Profitability,
economies scale, low risk)
Company Objectives and Resources
Company skills & resources relative to the segment(s).
Look for Competitive Advantages.
Possible levels of Segmentation
42. Targeting
A target market consist of a set of buyers who share common needs
or characteristics that the company decides to serve.
43. Which type of target market evaluation?
Coke’s freestyle vending machine allows users to choose
more than 100 coke brands or custom flavours or to
create their own.?
Porsche concentrates on sports car segment and volks
wagon on sports car segment ?
44. Hallmark’s personal expression products are sold in more than 41,500 retail
outlets nationwide and account for almost one of every two greeting cards
purchased in the United States. Each year Hallmark produces 19,000 new and
redesigned greeting cards and related products including party goods, gift wrap,
and ornaments. Its success is due in part to its vigorous segmentation of the
greeting card business. In addition to popular sub-branded card lines such as the
humorous Shoebox Greetings, Hallmark has introduced lines targeting specific
market segments. Fresh Ink targets 18- to 39-year-old women. Hallmark Warm
Wishes offers hundreds of 99-cent cards. Hallmark’s three ethnic lines—
Mahogany, Sinceramente Hallmark, and Tree of Life—target African American,
Hispanic, and Jewish consumers, respectively. Hallmark’s newer Journeys line of
encouragement cards focused on such challenges as fighting cancer, coming out,
and battling depression. Specific greeting cards also benefit charities such as
(PRODUCT) RED™, UNICEF, and the Susan G. Komen Race for the Cure. Hallmark
has also embraced technology. Musical greeting cards incorporate sound clips
from popular movies, TV shows, and songs. Online, Hallmark offers e-cards as well
as personalized printed greeting cards that it mails for consumers. For business
needs, Hallmark Business Expressions offers personalized corporate holiday cards
and greeting cards for all occasions and event
Case Discussion (Differentiated marketing)
45.
46. Step 2. Market Targeting
Choosing a Market-Coverage Strategy
Company
Resources
Product
Variability
Product’s Stage
in the Product Life Cycle
Market
Variability
Competitors’
Marketing Strategies
47. Bank Marketing
Statistics about the identity of bank depositors
Questions:
1.Who do you think the banks should be targeting and why?
2.What can the banks do to appeal to their chosen market or
markets? How do the segments differ in their needs?
Age Group Percent of Households Percent of Deposits
15-24 6 Less than 1
25-34 23 6
35-44 21 14
45-54 15 14
55 and over 35 66
49. Learning Outcomes
In this lecture, we will evaluate the process by
which marketers can uncover the most powerful
brand positioning
Create suitable differentiation strategies.
50. Background
• No company can win if its products and services
resemble every other product and offering.
• A company can reap the benefits of carving out a unique
position in the marketplace.
• Creating a compelling, well-differentiated brand position
requires a keen understanding of consumer needs and
wants, company capabilities, and competitive actions.
51. Step 3. Positioning for Competitive
Advantage
Product’s Position - the place the product occupies
in consumers’ minds relative to competing
products; i.e. Volvo positions on “safety”.
Marketers must:
Plan positions to give products the greatest advantage
Develop marketing mixes to create planned positions
52. Steps to Choosing and Implementing
a Positioning Strategy
All marketing strategy is built on
segmentation, targeting, and positioning
(STP).
A company discovers different needs and
groups in the marketplace, targets those it
can satisfy in a superior way, and then
positions its offerings so the target market
recognizes the company’s distinctive
offerings and images.
53. Positioning Connects Product Offering
with Target Market
• Positioning is the act of designing a company’s offering and image to occupy
a distinctive place in the minds of the target market.
• The goal is to locate the brand in the minds of consumers to maximize the
potential benefit to the firm
• Positioning is the act of fixing the locus of the product in the minds of the
target consumers.
‘Positioning is what you do to the mind of the prospect; you position the
product in the prospect’s mind’ —Al Ries and Jack Trout
Scorpio, Horlicks, Maggi, Asian Paints Colour World
Differentiation and positioning are related. Differentiation is the prelude to
positioning.
54. Steps to Choosing and Implementing
a Positioning Strategy
Positioning requires that marketers define and
communicate similarities and differences between their
brand and its competitors. Specifically, deciding on a
positioning requires:
(1) determining a frame of reference by
identifying the target market and relevant
competition
(2) identifying the optimal points of parity and
points of difference brand associations given that
frame of reference
(3) creating a brand mantra to summarize the
positioning and essence of the brand.
55. Positioning Connects Product Offering
with Target Market
• Positioning is the act of designing a company’s offering and image to occupy
a distinctive place in the minds of the target market.
• The goal is to locate the brand in the minds of consumers to maximize the
potential benefit to the firm
• Positioning is the act of fixing the locus of the product in the minds of the
target consumers.
‘Positioning is what you do to the mind of the prospect; you position the
product in the prospect’s mind’ —Al Ries and Jack Trout
Scorpio, Horlicks, Maggi, Asian Paints Colour World
Differentiation and positioning are related. Differentiation is the prelude to
positioning.
‘Differentiation and Positioning: Google Cloud
56. What Is Differentiation?
• It simply means making the product offer ‘different’ from the rest.
• It is about defining your difference from the rest.
• It builds distinction to the product offering by adding value to it.
There are only two basic routes to marketing strategy: the price
route and the differentiation route.
Differentiation remains the more versatile route.
• It helps the firm fight on a non-price plank.
57. Gaining Distinction Is the Purpose of
Differentiation
Gaining distinction through value addition: The purpose
• Competitive battle is decided by the distinction of an offer.
• Distinction comes from the value provided in the offer.
• Differentiation is a major strategic route for gaining distinction
through value addition.
‘Differentiation and Positioning: Patanjali Walks into India’s FMCG Den’
58. Firms Need Strong Brands;
Differentiation Builds Them
• The fight in the marketplace is between brand and brand.
• Continuous differentiation and value addition create strong brands.
• In the long term, these brands become major assets of companies.
• A brand is the outcome of all the differentiators infused into the basic
offer.
• Elevating the product from generic to higher levels means adding
differentiation.
59. 2. Analyzing Competitors
Conduct a SWOT analysis that includes a competitive
analysis.
A company needs to gather information about each
competitor’s real and perceived strengths and
weaknesses
Finally, based on all this analysis, marketers must
formally define the competitive frame of reference to
guide positioning.
60. POINTS-OF-DIFFERENCE
Points-of-difference (PODs) are attributes or benefits that
consumers strongly associate with a brand, positively evaluate,
and believe they could not find to the same extent with a
competitive brand.
Associations that make up points-of-difference may be based on
virtually any type of attribute or benefit. Strong brands may have
multiple points-of difference.
Some examples are Apple (design, ease-of-use, and irreverent
attitude), Nike (performance, innovative technology, and
winning), and Southwest Airlines (value, reliability, and fun
personality).
61. POINTS-OF-DIFFERENCE
Points-of-difference (PODs) are attributes or benefits that
consumers strongly associate with a brand, positively evaluate,
and believe they could not find to the same extent with a
competitive brand.
Associations that make up points-of-difference may be based on
virtually any type of attribute or benefit. Strong brands may have
multiple points-of difference.
Some examples are Apple (design, ease-of-use, and irreverent
attitude), Nike (performance, innovative technology, and
winning), and Southwest Airlines (value, reliability, and fun
personality).
62. POINTS-OF-PARITY
Points-of-parity (POPs), on the other hand, are attribute or
benefit associations that are not necessarily unique to the brand
but may in fact be shared with other brands.
63. Brand Mantras
” Brand mantras are short, three- to five-word phrases that
capture the irrefutable essence or spirit of the brand positioning.
Their purpose is to ensure that all employees within the
organization and all external marketing partners understand what
the brand is most fundamentally to represent with consumers so
they can adjust their actions accordingly
McDonald’s brand philosophy of “Food, Folks, and Fun” captures
its brand essence and core brand promise. Two high-profile and
successful examples—Nike and Disney—show the power and
utility of a well-designed brand mantra.
64. Successful implementation of Brand Mantras
Nike has a rich set of associations with consumers, based on its innovative
product designs, its sponsorships of top athletes, its award-winning
advertising, its competitive drive, and its irreverent attitude. Internally, Nike
marketers adopted the three-word brand mantra, “authentic athletic
performance,” to guide their marketing efforts. Thus, in Nike’s eyes, its entire
marketing program—its products and how they are sold—must reflect those
key brand values. Over the years, Nike has expanded its brand meaning from
“running shoes” to “athletic shoes” to “athletic shoes and apparel” to “all
things associated with athletics (including equipment).” Each step of the way,
however, it has been guided by its “authentic athletic performance” brand
mantra. For example, as Nike rolled out its successful apparel line, one
important hurdle for the products was that they could be made innovative
enough through material, cut, or design to truly benefit top athletes. At the
same time, the company has been careful to avoid using the Nike name to
brand products that do not fit with the brand mantra (like casual “brown”
shoes).
67. Attributes on Which Marketers
Differentiate Products
Attributes on Which Marketers Differentiate Their Market
Offerings
Product-related
• Ingredients/formula/process: Red Label Natural Care Tea
• Functional features: Nokia, Gillette
• Design/styling/variety: Titan/Tanishq and Apple
• Customer experience associated with the product
Continued…
68. Attributes on Which Marketers
Differentiate Products
• Quality/technology: LG
• Packaging: Sunfeast Dark Fantasy
• Prestige/status: BMW
• Sentiments/beliefs: MacDonald’s vegetarian
Distribution as Differentiator
• Exclusive showrooms: Raymond Shops, World of Titan and Asian Paints
• Customer service: Dell computers
The task is to locate and provide attributes that will render the product
distinct
…Continued
69. The Conditions for Differentiation to
Succeed
Conditions Necessary for Differentiation to Become Effective
Commitment to building the brand, avoiding easy alternative of sales
promotion deals
The differentiation must be perceived by the customers as intended
The differentiation should add value relevant to the user
The promise must be delivered
The differentiation should be rooted in the firm’s competitive advantage
The differentiation must have the backup of innovation
Check and contain the cost of creating the differentiation
‘Amazon Takes Home Appliances, ACs and TVs to Rural Markets’