Segmentation, Targeting and Positioning

1 Segmentation

1.1 Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mixes

1.2 Types

1.2.1 Geographical Segmentation

1.2.2 Demographic Segmentation

1.2.2.1 Age, gender

1.2.3 Psychographic Segmentation

1.2.3.1 Personality, Class

1.2.4 Behavioral Segmentation

1.2.4.1 Loyalty, Occasions

1.3 Requirements for Effective Segmentation

1.3.1 Measurable

1.3.1.1 Size, Purchasing Power

1.3.2 Accessible

1.3.2.1 Can your reach it?

1.3.3 Substantial

1.3.3.1 Worth your time?

1.3.4 Differentiable

1.3.4.1 Respond Differently

1.3.5 Actionable

1.3.5.1 Ability to work with segmentation

2 Targeting

2.1 Target Market

2.1.1 Consists of a set of buyers who share common needs or characteristics that the company decides to serve

2.1.2 Selecting

2.1.2.1 Undifferentiated (mass) marketing

2.1.2.2 Differentiated (segmented) marketing

2.1.2.3 Concentrated (niche) marketing

2.1.2.4 Micromarketing (local or individual)

2.2 1: Defining the abilities of the company and resources needed to enter a market

2.3 2: Analyzing competitors on their resources and skills

2.4 3. Considering the company’s abilities compared to the competitors' abilities

2.5 4. Deciding on the actual target markets.

3 Positioning

3.1 Tailoring a product or its marketing so that it stands out from the competition and people want to buy it.

3.2 Strategies

3.2.1 Brand Positioning Strategy

3.2.2 Product Positioning Strategy

3.2.3 Competitive Pricing Strategy

3.2.4 Competitive Positioning Strategy

Resource summary

	Created by Owen Monagan about 6 years ago