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Segmentation, Targeting & Positioning

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by

Hs Wong

on 22 September 2014

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Transcript of Segmentation, Targeting & Positioning

GOAL
Targeting
Target Market
Segmentation

To
divide a market
into distinct group of buyers who have
different needs, characteristics or behaviors
and who might require separate marketing strategies or mixes.
Segment Name – Banking
Positioning
Product position is the way the product is
defined by consumers
on
important attributes
--the place the product occupies in
consumers' minds relative to competing products.
Segmentation, Targeting & Positioning
Tutorial 4
Prepared by: Nichole Pun, Wong Houy Shyan
Learning Outcome
A set of customers the company
wants to sell its goods and services to
, and
to whom it directs its marketing efforts
.
Levels of Market Targeting
Undifferentiated (mass) Marketing
A situation where the company choose to
ignore market segment differences
and go after the market with one offer.

Differentiated (segmented) Marketing
A market-coverage strategy in which a firm decides to target
several different market segments
and
designs separate offers for each
.



Concentrated (niche) Marketing
A market coverage strategy in which a firm goes after a
large share
of
one or a few segments or niches
.
Micromarketing
A practice of tailoring products and marketing programs to the
needs and wants
of
specific individuals
and
local customer segments
.
Example:

Example:
Understand
how
organizations segment markets

Understand
how
different variables are used to create and describe market segments

Understand
how
marketers can select and target market segments

Understand
the concept
of positioning
Big Boss
New Pair
Segment Name - Franchised Restaurants
Hectic Mums
Differentiation
&
Positioning
Identifying a set
of possible
competitive advantages
to build a position
Choosing the right
competitive advantages
Selecting an
overall positioning strategy
Communicating and delivering
the chosen position to the market
Examples:
Segmenting Consumer Markets
Age and life-cycle stage
Geographic Segmentation
nation, regions, states, countries, cities or even neighbourhoods.
Psychographic Segmentation
social class, lifestyle, personality traits
Demographic Segmentation
Behavioral Segmentation
Occasions
Benefits sought
User status
Usage status
Loyalty status
vs
based on their
knowledge, attitudes, uses / responses
to a product.
Gender
Income
Cool Dudes
Hungry Mate
SUMMARY
Create value for targeted customer
Segmentation
Targeting
Differentiation
Positioning
select customer to serve
Decide on a value proposition
VS
Local Marketing
Tailoring brands and promotion to the needs and wants of
local
customer groups
Individual Marketing
Tailoring
products and marketing programs
to the
needs
and
preferences
of
individual customers
.
CUSTOMIZATION
Value Proposition
A set of
benefits
and
values
a company promises to deliver to their customers to
satisfy their needs
.
Product differentiation
Service differentiation
Channels differentiation
People differentiation
Image differentiation
Important
Distinctive
Superior
Communicable
Preemptive
Affordable
Profitable
Golden oldies
select the segment or segments to enter
position the market offering in the minds of target customers
University students
who work
part-time
and
live away
from home.
Couples w/ young children
who are
buying
their own
home
.
Owners of a small business
, both male and female.

Eg:
Eg:
Eg:
Males
aged 18 -25 who have
busy social lives.

Working mother
s with
young children
.
Retired couples
with
limited income
.
T4 Question :
What type of products (bank product or foods)
would suit the given segments the best?
Full transcript