Market Segmentation and Positioning

Description

Undergraduate Degree Marketing Mind Map on Market Segmentation and Positioning, created by sheree4queen13 on 15/01/2014.
sheree4queen13
Mind Map by sheree4queen13, updated more than 1 year ago
sheree4queen13
Created by sheree4queen13 about 10 years ago
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Resource summary

Market Segmentation and Positioning

Annotations:

  • Identifying individuals or organisations with similar characteristics that have significant implications for the determination of marketing strategy.
  1. Benefits of Market Segmentation
    1. Target market selection

      Annotations:

      • A single marketing mix strategy can be developed to match the similar requirements of those in the target market.
      1. Tailored marketing mix

        Annotations:

        • Allows the grouping of customers based upon similarities that are important when designing marketing strategies.
        1. Differentiation

          Annotations:

          • Target several market segments and develop separate marketing mixes for each.
          1. Opportunities and threats

            Annotations:

            • The company that first spots a new under-served market segment and meets its needs better than the competition can find itself on a sales and profit growth trajectory.
          2. The Process
            1. 1. Characteristics of individuals customers are understood
              1. 2. Customers grouped into segments on the basis of having similar characteristics
                1. 3. One or more segments are chosen for targeting and a marketing mix strategy is designed for that target market(s)
            2. Segmenting Consumer Markets
              1. Behavioural
                1. Benefits sought

                  Annotations:

                  • Convenience Status Performance Price
                  1. Purchase occasion

                    Annotations:

                    • Self-buy Gift Special occasions Eating occasions
                    1. Purchase behaviour

                      Annotations:

                      • Brand loyalty Innovators Solus buying
                      1. Usage

                        Annotations:

                        • Heavy users Light users Non-users
                        1. Perceptions, beliefs and values

                          Annotations:

                          • Favourable Unfavourable
                        2. Psychographic
                          1. Lifestyle
                            1. Personality
                            2. Profile
                              1. Demographic

                                Annotations:

                                • Age Gender Life cycle
                                1. Socio-economic

                                  Annotations:

                                  • Social class Terminal education age Income
                                  1. Geographic

                                    Annotations:

                                    • Geodemographic
                                2. Segmenting Organisational Markets
                                  1. Macrosegmentation
                                    1. Organisational size

                                      Annotations:

                                      • Large Medium Small
                                      1. Industry

                                        Annotations:

                                        • Engineering Textiles Banking
                                        1. Geographic location

                                          Annotations:

                                          • Local National European Global
                                        2. Microsegmentation
                                          1. Choice criteria

                                            Annotations:

                                            • Economic value Delivery Price Service
                                            1. Decision-making unit structure

                                              Annotations:

                                              • Complex Simple
                                              1. Decision-making process

                                                Annotations:

                                                • Long Short
                                                1. Buy class

                                                  Annotations:

                                                  • Straight rebuy Modified rebuy New task
                                                  1. Purchasing organisation

                                                    Annotations:

                                                    • Centralised Decentralised
                                                    1. Organisational innovativeness

                                                      Annotations:

                                                      • Innovator Follower Laggard
                                                  2. Target Marketing
                                                    1. Market Awareness
                                                      1. Market factors

                                                        Annotations:

                                                        • Segment size Segment growth rate Segment profitability Price sensitivity Bargaining power of customers Bargaining power of suppliers Barriers to market segment entry Barriers to market segment exit
                                                        1. Competitive factors

                                                          Annotations:

                                                          • Nature of competition New entrants Competitive differentiation
                                                          1. Political, social and environmental factors

                                                            Annotations:

                                                            • Political issues Social trends Environmental issues
                                                          2. Strategies
                                                            1. Undifferentiated marketing
                                                              1. Customised marketing
                                                                1. Focussed marketing
                                                                  1. Differentiated marketing
                                                                2. Positioning
                                                                  1. 3. Differential advantage
                                                                    1. 2. Target market
                                                                      1. 1. Market segmentation
                                                                        1. Successful Positioning
                                                                          1. Clarity
                                                                            1. Consistency
                                                                              1. Credibility
                                                                                1. Competitiveness
                                                                                2. Repositioning
                                                                                  1. Image repositioning
                                                                                    1. Product repositioning
                                                                                      1. Intangible repositioning
                                                                                        1. Tangible repositioning
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