Transcript Session-4 - jackson.com.np
Segmentation, Targeting, Positioning
Session-4
PowerPoint Presentation by Sixit Bhatta
Mass Market
Whom do you sell these products
Effective Targeting Requires
Identify and profile distinct groups of buyers who differ in their needs and preferences.
Select one or more market segments to enter.
Establish and communicate the distinctive benefits of the market offering.
Steps in Market Segmentation, Targeting and Positioning Market Segmentation 1. Identify bases for segmenting the market 2. Develop segment profiles Market Targeting 3. Develop measure of segment attractiveness 4. Select target segments Market positioning 5. Develop positioning for target segments 6. Develop a marketing mix for each segment
Four Levels of Micromarketing
Segments
Niches
Local Areas
Individuals
Segment Marketing
Targeting a group of customers who share a similar set of needs and wants.
Niche Marketing
Ready to pay premium.
Narrowly defined customer groups seeking distinctive mix of benefits.
Ignored by other marketers.
Local
Marketing programs tailored to the need of local customer groups.
HSBC worlds local bank
Mc Donald: Maharaja Mac, Veg. Burgers.
Individual Marketing
Segment of ‘one’
Customization
Segmenting Consumer Market
Geographic
– Nations, States, Zones, States, Countries.
Demographic
– Age, Life Stage, Gender, Income, Generation, Social Class
Psychographic
– Values, Attitudes, Beliefs, Lifestyle
Behavioral
– Occasions, Benefits, User Status, Loyalty Status, User Rage
Segmentation Criteria Measurable Accessible Substantial Differential Actionable Size, purchasing power, profiles of segments can be measured. Segments can be effectively reached and served.
Segments are large or profitable enough to serve.
Segments must respond differently to different marketing mix elements & programs.
Effective programs can be designed to attract and serve the segments.
Targeting- Evaluating Target Market Segment Size and Growth Analyze current sales, growth rates and expected profitability for various segments.
Segment Structural Attractiveness Consider effects of: competitors, availability of substitute products and, the power of buyers & suppliers.
Company Objectives and Resources Company skills & resources needed to succeed in that segment(s).
Look for Competitive Advantages.
Target Market Patterns
Target Market Patterns
Target Market Patterns
Market Coverage Strategies.
Company Marketing Mix Market Company Marketing Mix 1 Company Marketing Mix 2 Company Marketing Mix 3 A. Undifferentiated Marketing Segment 1 Segment 2 Segment 3 B. Differentiated Marketing Segment 1 Company Marketing Mix Segment 2 Segment 3 C. Concentrated Marketing
Trivia
Who Flew Solo across the Atlantic for the first time?
Who was the first to Land on the Moon?
Who was the first to scale Mt. Everest?
Which was the first small car produced in India?
Answers
Charles Lindberg.
Neil Armstrong.
Hillary/ Tenzing.
Maruti.
Name the Second???
First in Mind
IBM- Computers.
Coke- Cola.
KFC- Chicken
Bhatbhateni- Product breadth.
Lobsters- Sea Food
Brand Positioning
What comes to your mind
Positioning
Act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.
Brand Positioning
Pepsi Youngistan Ad
What position it created
Mind Games
How to Choose Brand Positioning Strategy
1. Identify Possible Competitive Advantage.
2. Select the right competitive advantage 3. Communicate and Deliver the chosen Competitive advantage.
Positioning Examples
• • • • Low-price vs. High quality Taste vs. Low calories Nutritious vs. Good tasting.
Low Cost Vs. Service • Powerful vs. Safe • • Strong vs. Refined Ubiquitous Exclusive vs.
Differentiation Strategies Product • Features.
• Quality.
• Durability • Style • Design Personnel • Competence • Courtesy • Credibility • Reliability • Responsiveness • Communication Services • Ordering Ease • Delivery • Installation • Customer Training • Customer Consulting • Maintenance & repair Channel • Coverage • Expertise Image : The way the public perceives the company or its products
Positioning Errors
Under positioning- This is a scenario in which the customer’s have a blurred and unclear idea of the brand.
– UTL
Over positioning- This is a scenario in which the customers have too limited a awareness of the brand
– Lobsters.
Confused positioning- This is a scenario in which the customers have a confused opinion of the brand.
– UML
Double Positioning- This is a scenario in which customers do not accept the claims of a brand.
– Maoists