Segmentation, Targeting & Positioning

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1 Segmentation, Targeting & Positioning

2 Resource Person MATHISHA HEWAVITHARANA MBA (Col),BBA Sp.Mktng (Col), PPG DIP. In Mktng (UK), MCIM (UK), Chartered Marketer (UK), Practicing Marketer (SL), ACMA, CGMA CIMA (UK), DBF (IBSL), AIB (IBSL), MSLIM(SL), Head of Marketing - Siyapatha Finance PLC

3 Chapter Contents Segmentation & Segmentation Variables Targeting Strategy Positioning Strategy 1-3

4 Chapter Contents Segmentation & Segmentation Variables Targeting Strategy Positioning Strategy 1-4

5 What is Segmentation? A market segment consists of a group of customers who share a similar set of needs and wants. Segmentation is. 1-5

6 Segmenting Consumer Markets Geographic Demographic Psychographic Behavioral 1-6

7 Segmentation variables in Consumer Markets o Geographic Segmentation Geographic segmentation divides the market into geographical units such as nations, states, regions, counties, cities, or neighbourhoods. Refer : Page ( Marketing Management 14 th edition) 1-7

8 Segmentation variables in Consumer Markets o Demographic Segmentation Demographic segmentation divides the market based on a number of demographical factors. Refer : Page ( Marketing Management 14 th edition) 1-8

9 Demographic Segmentation Age and life cycle Life stage Gender Income Generation Social class Race and Culture 1-9

10 Segmentation variables in Consumer Markets o Psychographic Segmentation Psychographic segmentation divides the market based on psychological factors such as Personality, Lifestyle or Values & people with in the same demographic group can exhibit different psychographic profiles. Refer : Page ( Marketing Management 14 th edition) 1-10

11 Segmentation variables in Consumer Markets o Behavioral Segmentation In behavioral segmentation, marketers divide buyers into groups on the basis of their knowledge of, attitude toward, use of, or response to a product. Following three aspects are used in assessing behavioral segmentation. Needs and Benefits Decision Roles Initiator / Influencer / Decider / Buyer / User User and Usage Occasions / user status / User rate / User readiness Refer : Page ( Marketing Management 14 th edition) 1-11

12 Loyalty Status Hard-core loyals Split loyals Shifting loyals Switchers 1-12

13 Behavioral Segmentation Breakdown Refer : Page 201( Marketing Management 14 th edition) 1-13

14 Segmenting for Business Markets Demographic (Industry / Company size / Location) Operating variable (Technology / Capacity) Purchasing approaches (Purchasing Policies / Criteria) Situational factors (Urgency / Size of order) Personal characteristics (Risk Appetite / Loyalty) Refer : Page 202 ( Marketing Management 14 th edition) 1-14

15 Steps in Segmentation Process Need-based segmentation Segment identification Segment attractiveness Segment profitability Segment positioning Segment acid test Market mix strategy 1-15

16 Effective Segmentation Criteria Measurable Substantial Accessible Differentiable Actionable 1-16

17 Chapter Contents Segmentation & Segmentation Variables Targeting Strategy Positioning Strategy 1-17

18 What is Targeting? Targeting is 1-18

19 Targeting Targeting includes following; Ranking the market segments according to the market potential Selecting the target segments accordingly Targeting decision will be basically taken after considering the following two dimensions. Market attractiveness profitability, market growth rate, entry costs, economies of scale, price competition etc. Business strength relative market share, company image, learning curve effect, product quality, R&D, financial strength, patent rights etc. 1-19

20 Targeting Strategies Undifferentiated Targeting (One product to the Entire market) Concentrated Targeting (One product to One segment) Differentiated Targeting (Different products to Different segments) 1-20

21 Chapter Contents Segmentation & Segmentation Variables Targeting Strategy Positioning Strategy 1-21

22 What is Positioning? Positioning is 1-22

23 Positioning process o o Identifying Competitors Analyzing Competitors o Defining POP & POD Refer : Page ( Marketing Management 14 th edition) 1-23

24 Defining Associations Points-of-difference Attributes or benefits consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand Points-of-parity Associations that are not necessarily unique to the brand but may be shared with other brands 1-24

25 Re-positioning Re-positioning is 1-25

26 Positioning Maps High service quality Bank E Bank A Diverse product Bank C Limited number of Offers offers Bank B Bank D Poor service quality 1-26

27 Chapter Contents Segmentation & Segmentation Variables Targeting Strategy Positioning Strategy 1-27

28 Thank You!

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