³Positioning is not what you do to a product; it iswhat you do to the mind of a prospect´ (Ries and Trout, 1972)
Describe the principles of market segmentation andthe STP process.Explain the characteristics and differences betweenmarket segmentation and product differentiation.Explain how market segmentation can be undertakenin both consumer and business to business markets.Describe different targeting strategies.Explain the concept of positioning.Illustrate how the use of perceptual maps can assistthe positioning process.
Not all buyers are alikeSub-groups can be identified
±With similar behaviour, background, valuesand needs ±Smaller & more homogeneous
Easier to satisfy a small group than larger (Zikmund & D¶Amico, 1995)