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Segmentation Essay

630 words - 3 pages

MKW1120
Marketing Theory and Practice

Lecture 7A: Market Targeting and Positioning

Objectives

▪Objective 3: Explain how companies identify
attractive market segments and choose a markettargeting strategy.
▪Objective 4: Discuss how companies
differentiate and position their products for
maximum competitive advantage.

Market Targeting

© Commonwealth of Australia, reproduced by permission

Evaluating Market Segments
Three factors to be looked at:

Market Targeting
Selecting Target Market Segments

A target market is a set of buyers who share
common needs or characteristics that the
company decides to serve.

Four Basic Market Targeting Strategies
...view middle of the document...

• Also known as:
• One-to-one marketing
• Mass customization

Market Targeting
Selecting Target Market Segments
Choosing a targeting strategy depends on
• Company resources
• Product variability
• Product life-cycle stage
• Market variability
• Competitor’s marketing strategies

Positioning
Product position is the way the product is defined
by consumers on important attributes.
The place a product, brand or group of products
occupies in consumers’ minds relative to
competing offerings.

Positioning Map

▪A means of
displaying or
graphing, in two
or more
dimensions, the
location of
products, brands
or groups of
products in
customers’
minds.

Positioning maps
show consumer
perceptions of
marketer’s brands
versus competing
products on
important buying
dimensions.

Positioning Map for Automobiles

Positioning mapping – Levi’s
High price

Vintage
Red Line

Slates

Classic

Red Tab
Dry Goods

Silver Tab

501

Dockers
Classics

L2

Designer

Dockers
Premium

Red Tab
Elesco

Red Tab
Basics

Low price

Old product

New product

Product Differentiation
• A positioning strategy that some firms use to
distinguish their products from those of competitors.

Choosing a Differentiation and Positioning
Strategy
Marketers can follow several positioning strategies:

Identifying Possible
Competitive Advantages
Competitive
advantage is an
advantage over
competitors gained by
offering consumers
greater value, either
through lower prices or
by providing more...

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