Segmentation, Targeting & Positioning
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1.MARKET SEGMENTATION, TARGETING, & POSITIONING
a.Market Segmentation
i.Types
1.Mass marketing
2.Segment marketing
a.effectiveness
b.efficiency
3.Niche marketing
4.Micro marketing
a.local marketing
b.individual marketing
ii.segmenting consumer markets
1.geographic segmentation
2.demographic segmentation
a.age & life-cycle stage
b.gender
c.income
3.psychographic segmentation
4.behavioral segmentation
5.occasions
6.benefits sought
7.user status
8.usage rate
9.loyalty status
10.Multiple segmentation bases
iii.Segmenting business markets
1.same segmentations as consumer markets
2.additional segmentation
a.purchasing approaches
b.situational factors
c.personal characteristics
d.customer size
iv.Requirements of effective segmentation
1.measurable
2.accessible
3.substantial
4.differentiable
5.actionable
b.Market Targeting
i.Considerations
1.competitors
2.substitute products
3.power or buyers
4.power of suppliers
5.resources available
6.product variability
7.product’s life-cycle stage
8.market variability
9.competitor’s marketing strategies
ii.Selecting target markets
1.undifferentiated marketing (mass marketing)
2.differentiated marketing
3.concentrated marketing
4.socially responsible target marketing
c.Product Positioning
i.Strategy
1.identify potential competitive advantages
a.Perceptual (positioning) maps used to compare brands
b.product differentiation
i.consistency
ii.durability
iii.reliability
iv.repairability
c.service differentiation
i.installation
ii.customer training
iii.consulting services
d.channel differentiation
e.people differentiation
f.image differentiation
i.symbols
ii.colors
2.choose the right competitive advantage
a.how many differences to promote?
i.Underpositioning
ii.Overpositioning
iii.Confused positioning
b.Which differences to promote?
i.Importance
ii.Distinctiveness
iii.Superiority
iv.Communicability
v.Preemptiveness
vi.Affordable
vii.Profitability
3.Select an overall positioning strategy
a.Value proposition
i.More for more
ii.More for the same
iii.The same for less
iv.Less for much less
v.More for less
4.Communicate & deliver the strategy
a.Market Segmentation
i.Types
1.Mass marketing
2.Segment marketing
a.effectiveness
b.efficiency
3.Niche marketing
4.Micro marketing
a.local marketing
b.individual marketing
ii.segmenting consumer markets
1.geographic segmentation
2.demographic segmentation
a.age & life-cycle stage
b.gender
c.income
3.psychographic segmentation
4.behavioral segmentation
5.occasions
6.benefits sought
7.user status
8.usage rate
9.loyalty status
10.Multiple segmentation bases
iii.Segmenting business markets
1.same segmentations as consumer markets
2.additional segmentation
a.purchasing approaches
b.situational factors
c.personal characteristics
d.customer size
iv.Requirements of effective segmentation
1.measurable
2.accessible
3.substantial
4.differentiable
5.actionable
b.Market Targeting
i.Considerations
1.competitors
2.substitute products
3.power or buyers
4.power of suppliers
5.resources available
6.product variability
7.product’s life-cycle stage
8.market variability
9.competitor’s marketing strategies
ii.Selecting target markets
1.undifferentiated marketing (mass marketing)
2.differentiated marketing
3.concentrated marketing
4.socially responsible target marketing
c.Product Positioning
i.Strategy
1.identify potential competitive advantages
a.Perceptual (positioning) maps used to compare brands
b.product differentiation
i.consistency
ii.durability
iii.reliability
iv.repairability
c.service differentiation
i.installation
ii.customer training
iii.consulting services
d.channel differentiation
e.people differentiation
f.image differentiation
i.symbols
ii.colors
2.choose the right competitive advantage
a.how many differences to promote?
i.Underpositioning
ii.Overpositioning
iii.Confused positioning
b.Which differences to promote?
i.Importance
ii.Distinctiveness
iii.Superiority
iv.Communicability
v.Preemptiveness
vi.Affordable
vii.Profitability
3.Select an overall positioning strategy
a.Value proposition
i.More for more
ii.More for the same
iii.The same for less
iv.Less for much less
v.More for less
4.Communicate & deliver the strategy