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MARKET SEGMENTATION, TARGETING & POSITIONING - By arihant aski goswami

MARKET SEGMENTATION, TARGETING & POSITIONING - By arihant aski goswami

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Presentation on titan watches regarding it's segmentation,targeting and positioning process.
Presentation on titan watches regarding it's segmentation,targeting and positioning process.

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Categories:Types, Research
Published by: Arihant Aski Goswami on Sep 28, 2010
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04/28/2013

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Of Watches

-BY Arihant Aski Goswami, Sonyog Goswami Priyanka Hazarika, Jessimuddin Ahmad, Pradyut

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Segmentation, targeting, and positioning together comprise a three stage process.

determine which kinds of customers exist, then select which ones we are best off trying to serve and, finally, implement our segmentation by optimizing our products/services for that segment and communicating that we have made the choice to distinguish ourselves that way

Step 1 :Segmentation- the Titan Perspective
The levels of market segmentation are:

ƒ ƒ ƒ ƒ
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· Segment Marketing · Individual Marketing · Niche Marketing · Local Marketing

Marketers target more than one segment when it is not economically feasible to design products and services for individual segments. TITAN PERSPECTIVE Titan has segmented its business into three main categories:  Mass  Mid-premium  luxury
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Individual Marketing is the extreme level of segmentation in which marketers focus on individual customers. TITAN PERSPECTIVE

Titan has not applied this for its marketing !!

A niche is more narrowly defined group, typically a small market whose
needs are not well served. Marketers usually identify niches by dividing a segment into sub segments or defining a group seeking a distinctive mix of benefits

TITAN PRESPECTIVE
Serving the youth since they form the majority of customer base.

introducing FAST TRACK · price offering from Rs 500(affordable) · watches with style statements

Marketing programs being tailored to the needs and wants of local customer groups. The prominence of local marketing has also become very dominant. TITAN PERSPECTIVE All the products of TITAN are addressed to all the customers as a whole. Localized products are not available. But some products which are available in UK have some pictures of eminent personalities on their Dial like M.K. Gandhi, Mr. Jawaharlal Nehru,etc. so that the customers can identify the product with those dignitaries.

B low Rs 500

Income

B tw Rs (5001500) B tw Rs (15003000) B tw Rs (30005000) B tw Rs (500010000) Abov Rs 10000
¡    ¡    ¡           

AGE AND LIFE CYCLE STAGE
12--20 18--30 30--35

¡   

   

GENDER

ts Ladi s Marri d coupl s
Fashion Statement

Social class

Fashion Statement but price sensitive

Utility

Lifestyle:
Luxury Mid Premium Mass

Personality

economy category luxury category sports & casual category, fashion category,

Occasions

Benefits
SERVICE CENTRE uge product ra ge good life cycle

Formal Dress wear Fas io

Four main activities in this stage Defining the abilities of the company and resources needed to enter a market Analyzing competitors on their resources and skills Considering the company s abilities compared to the competitors Deciding on the actual target markets.

Segment 1 single segment with a single product SUPPLIER Segment 2 Segment 3 The first is the single segment with a single product. For example, Titan s sub brand, Raga is targeting the upwardly mobile ladies in the upperpremium segment.

Segment 1 One product for all segments Segment 2 Supplier Segment 3

Secondly, the marketer could ignore the differences in the segments, and choose to aim a single product at all segments i.e. the whole market. SONATA FAST TRACK

Supplier

Brand A Brand B Brand C Brand D

SEGEMENT 1 SEGEMENT 2 SEGEMENT 3

Finally, there is a multi-segment approach. Here a marketer will target a variety of different segments with a series of differentiated products. For example, Titan itself provides with the number of different brands/products which are targeting different segments in the market

Positioning is statement that shows how you are different, better or more special than your competition. TITAN PERSPECTIVE Titan initially pioneered the concept of "Gifting watches Titan pushed the concept of "Matching Watches to Clothes Earlier Fastrack was targeted at 20-25 year olds and positioned along the line "Cool watches from Titan".The company re launched the brand lowering the target segment to 18-30 year olds with the baseline How many you have?".

GREAT TEAMS MAKE GREAT PRESENTATIONS

Criteria Demographic

Segment INCOME

Basis of distribution Between Rs (5001500) Between Rs (15003000) Between Rs (500010000) Above Rs 10000

Example TITAN Fast Track

TITAN REGALIA,FAST TRACK,RAGA TITAN EDGE

TITAN NEBULA

Criteria

Segment

Basis of distribution GENTS

Example

Demographic

GENDER

TITAN FLIP

LADIES

TITAN RAGA

MARRIED COUPLES

TITAN BANDHAN

Criteria

Segment

Basis of distribution 12-20

Example

Demographic

Age and life cycle

TIMEX, Sonata, etc

18-30

FAST TRACK, TECHNOLOGY, SONATA, etc. SONATA, NEBULA, RAGA, STEEL, REGALIA, BANDHAN, etc.

30-55

Criteria

Segment

Basis of distribution Example

Demographic

SOCIAL CLASS

FASHION STATEMENT

ROYALE, AURUM, and NEBULA RAGA, TECHNOLOGY , FAST TRACK etc

FASHION STATEMENT BUT PRICE SENSITIVE

UTILITY WATCHES

TIMEX, SONATA, KARISHMA, etc

Criteria

Segment

Basis of distribution LUXURY

Example

Psychographic

Life style

NEBULA, AURUM

Mid premium

RAGA, GOLD-STEEL, TECHNOLOGY SONATA,TIMEX and KARISHMA

Mass

Criteria

Segment

Basis of distribution ECONOMY

Example

Psychographic

Personality

TITAN KARISHMA

LUXURY

TITAN RAGA

SPORTS AND CASUAL FASHION STATEMENT

TITAN FASTRACK

RAGA,NEBULA

Criteria

Segment

Basis of distribution Example

BEHAVIORAL

OCCASIONS

FORMAL

NEBULLA, STEEL, RAGA, GOLD&STEEL REGALIA, RAGA, GOLD&STEEL, ROYALE

DRESS WARE

FASHION

TECHNOLOGY, STEEL, RAGA, GOLD&STEEL, FAST TRACK

Criteria

Segment

Basis of distribution

Example

BEHAVIORAL

benefits

WIDE SERVICE

SERVICE CENTRE in 174 towns

HUGE RANGE

FASTRACK,RAGA, NEBULA,KARISHMA ETC FASTRACK FOR YOUTH TO BANDHAN FOR MARRIED PEOPLE

GOOD LIFE CYCLE

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