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The document discusses segmentation, targeting, and positioning (STP) as key marketing strategies. Segmentation involves dividing the total market into subsets based on characteristics like demographics, psychographics, or behaviors. Targeting refers to selecting specific market segments to focus marketing efforts on based on company objectives. Positioning creates a brand image in consumers' minds by associating products with benefits, price/quality, applications, users, or cultural symbols. The document provides examples of single segment, multi-segment, and undifferentiated targeting strategies as well as different positioning strategies used in advertising claims.
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Segmentation involves dividing a market into distinct groups based on characteristics. Targeting selects specific customer groups to market to. Positioning creates an image or identity for a product in customers' minds. Differentiation distinguishes a product from others to appeal to a target market. The presentation discusses these concepts and provides examples like Fast Track watches, Hero Honda Pleasure scooter, Amul probiotic drinks, and Mahindra Scorpio SUV.
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The document discusses key concepts in market segmentation, targeting, and positioning (STP). It defines the steps in STP as segmenting the market, deciding on target segments, and positioning products in the minds of consumers. It also discusses different market coverage strategies such as undifferentiated, differentiated, and concentrated strategies. Finally, it outlines steps in developing positioning strategies and communicating a company's position to target audiences.
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1. The document discusses different strategies for targeting markets, including undifferentiated marketing targeting the entire market, focusing on a single segment, or developing different products and marketing mixes for multiple segments.
2. It also covers factors that influence target market selection like segment size, growth, and competition as well as positioning products within segments to stand out from competitors.
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Here are positioning statements for the brands/companies/products:
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- Coca-Cola: Coca-Cola is positioned as the original cola brand, with a heritage of refreshing consumers around the world for over 100 years with its signature Coke taste.
- Apple: Apple is positioned as a innovative technology brand for creative professionals and enthusiasts that offers beautifully designed, user-friendly products like the iPhone and MacBook that "just work."
- Nike: Nike is positioned as the leader in high-performance athletic footwear
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The document discusses market segmentation, targeting, and positioning (STP). It defines segmentation as classifying customers into groups, targeting as selecting segments to enter, and positioning as arranging a product to occupy a clear place in customers' minds relative to competitors. The key steps are: 1) identifying segmentation bases; 2) developing segment profiles and selection criteria; 3) choosing target segments; 4) developing a position for each; and 5) creating a marketing mix for each. Effective segmentation requires segments be measurable, accessible, substantial, and differentially responsive to marketing activities. The document also discusses evaluating and choosing target segments and strategies for coverage, as well as developing competitive advantages and supporting a positioning strategy with a unique marketing mix.
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Marketers segment consumers into groups based on geographical, demographic, psychographic, and behavioral characteristics to better understand consumer needs. They then evaluate segment sizes, market attractiveness, and their own resources to select target markets. Positioning strategies involve identifying value differences, selecting a competitive advantage, choosing an overall strategy, and developing a positioning statement to communicate the brand's differentiated value proposition to consumers relative to competitors.
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This document discusses targeting and positioning in marketing. It defines targeting as identifying consumer groups likely to purchase specific goods and services. After market segmentation, companies must select target markets. The document outlines evaluating market segments based on size, growth, and firm objectives. It also describes limited and full market coverage targeting strategies. Positioning is designing a company's offering and image to occupy a distinctive place in customers' minds. The document discusses various positioning strategies and differentiating products through attributes, price, usage, channels, and image. It provides the procedure for positioning as identifying competitors, determining perceptions, analyzing customer preferences, and monitoring positions.
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The document discusses the steps involved in market segmentation, targeting, and positioning for competitive advantage. It covers identifying bases for segmenting the market, developing segment profiles, evaluating segment attractiveness, selecting target segments, developing positioning strategies for targets, and developing marketing mixes for each segment. Key aspects include segmenting based on geographic, demographic, psychographic and behavioral factors, choosing segmentation levels like mass, niche, or individual marketing, and selecting positioning strategies to communicate the right competitive advantages.
PA240_-_L3_-_Market_segmentation (1).pdf
1. The STP process involves segmenting customers into groups, targeting specific segments to enter, and positioning products in the consumer's mind relative to competitors.
2. Segmentation breaks up a market into subgroups with common needs. Targeting evaluates segment attractiveness and selects segments to target. Positioning arranges the product to occupy a clear place in the consumer's mind.
3. Effective segmentation bases groups on measurable, accessible, and substantial differences that allow for differential marketing strategies. The steps are to identify segmentation bases, profile segments, select targets, and develop positioning and marketing mixes for each target.
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Segmentation is the process of classifying customers into groups which share some common characteristic
Targeting involves the process of evaluating each segments attractiveness and selecting one or more segments to enter
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This document outlines the key components of corporate, business, and marketing strategy. It discusses corporate strategy including defining the scope and purpose of the business. It also discusses business and marketing strategy relationships. The marketing strategy process is outlined including situation analysis, market vision/structure analysis, segmenting markets, and continuous learning. The document provides an outline for a marketing plan including sections on strategic situation summary, market targets and objectives, positioning statements, market mix strategy, coordination with other business functions, sales forecasts and budgets, and contingency plans.
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Digital Marketing Services | Techvolt Software :
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Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
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5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
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2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
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With Regards
Janani Digital Marketer
Coimbatore,Tamilnadu.
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Stp
- 2. SEGMENTATIONSEGMENTATION Process of subdividing a total market intoProcess of subdividing a total market into different subsets or groups.different subsets or groups. Where the marketer may select one orWhere the marketer may select one or more segments.more segments. To be reached with an appropriateTo be reached with an appropriate marketing mix.marketing mix.
- 3. Basis for market segmentation On the basis of consumer’s personal characteristics (non-behavioral correlates) On the basis of consumer responses (behavioral correlates) Geographic Demographic Psychographic Socio-economic Loyal status Usage based Benefits
- 4. TargetingTargeting Once the firm has segmented the totalOnce the firm has segmented the total market ,it should select the target marketmarket ,it should select the target market segment or segments for marketing.segment or segments for marketing. Investing in a particular segment shouldInvesting in a particular segment should be sensible in terms of company’sbe sensible in terms of company’s mission, objectives, skills and resources.mission, objectives, skills and resources.
- 5. Targeting StrategiesTargeting Strategies Single segment concentration strategy Multi segment strategy or differentiated marketing strategy Undifferentiated marketing strategy
- 6. Single segment concentrationSingle segment concentration strategystrategy The firm selects a single segment or market and fullyThe firm selects a single segment or market and fully concentrate its marketing efforts to try and seekconcentrate its marketing efforts to try and seek maximum advantage.maximum advantage. Car maker Single marketing mix Semi-luxury segment (Expensive) Small car segment (affordable, less expensive) Luxury car segment (very expensive)
- 7. Multi-segments strategyMulti-segments strategy Here the firm may select two or more than two or may beHere the firm may select two or more than two or may be all the segments and approach each segment with anall the segments and approach each segment with an appropriate marketing mix programme.appropriate marketing mix programme. Car maker Small car segment Semi-luxury segment Luxury segment Marketing Mix Marketing Mix Marketing Mix
- 8. Undifferentiated Marketing StrategyUndifferentiated Marketing Strategy The firm ignores the market segment differences andThe firm ignores the market segment differences and goes ahead with 1 single product offer for all segments.goes ahead with 1 single product offer for all segments. Essential commodity manufacturer. consumer Single marketing mix
- 9. Market PositioningMarket Positioning Positioning of a product or service isPositioning of a product or service is creating an “image” in the consumers’creating an “image” in the consumers’ mind.mind. Consumers generally buy “images” ratherConsumers generally buy “images” rather than actual product.than actual product. Marketers mostly use advertising as a toolMarketers mostly use advertising as a tool to build up brand or corporate “image”.to build up brand or corporate “image”.
- 10. Positioning strategiesPositioning strategies Sl.Sl. no.no. PositioningPositioning strategiesstrategies DefinitionDefinition Advertising claimsAdvertising claims 1.1. CustomerCustomer benefitsbenefits Associate a brand or product withAssociate a brand or product with customer benefitscustomer benefits Benefit(s)Benefit(s) 2.2. Price and qualityPrice and quality A product is highlighted in termsA product is highlighted in terms of service features orof service features or performance. Manufacturerperformance. Manufacturer charges high pricecharges high price Value for moneyValue for money 3.3. ApplicationApplication Associating a product or serviceAssociating a product or service with a use or applicationwith a use or application Use or applicationUse or application of a product orof a product or services.services. 4.4. Product userProduct user Associating a product or serviceAssociating a product or service with a user or class of users.with a user or class of users. Cine stars orCine stars or sports heroessports heroes using the productusing the product
- 11. Positioning strategies Sl.Sl. no.no. PositioningPositioning strategystrategy DefinitionDefinition Advertising claimsAdvertising claims 55 Product classProduct class Associating a product orAssociating a product or service in a particularservice in a particular product classproduct class World class productsWorld class products 66 CulturalCultural symbolssymbols Associating culturalAssociating cultural symbols with a product orsymbols with a product or service to differentiateservice to differentiate from competitors productfrom competitors product RoyalRoyal 77 CompetitorsCompetitors Associating withAssociating with competitor’s product orcompetitor’s product or service by comparisonservice by comparison Compares withCompares with competitors brandcompetitors brand
- 12. Competing brands in the health drinks market Advertising claims Health drink market Complan Horlicks Bournvita Boost “complete planned food” for growing children. Contains 23 vital nutrition “The great nourisher-with extra calcium” “Health strength and energy”.contains protiens,vitamins, menerals and carbohydrates. “boost is the secret of my energy” Health Drink Market
- 13. Thank you