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    Market segmentation involves dividing a market into subgroups with distinct needs, characteristics, or behaviors. There are four main types of segmentation: geographic, demographic, psychographic, and behavioral. When targeting segments, companies can choose between undifferentiated, differentiated, concentrated, or micromarketing strategies. Firms then select points of differentiation such as product, image, services, people, or channels. Positioning maps show brand perceptions on important dimensions like price and benefits. An effective positioning statement identifies the target segment, frames the brand concept, and highlights the point of difference. Communicating the positioning requires using marketing mix elements consistently over time.

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    Market segmentation involves dividing a market into subgroups with distinct needs, characteristics, or behaviors. There are four main types of segmentation: geographic, demographic, psychographic, and behavioral. When targeting segments, companies can choose between undifferentiated, differentiated, concentrated, or micromarketing strategies. Firms then select points of differentiation such as product, image, services, people, or channels. Positioning maps show brand perceptions on important dimensions like price and benefits. An effective positioning statement identifies the target segment, frames the brand concept, and highlights the point of difference. Communicating the positioning requires using marketing mix elements consistently over time.

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    6 views7 pages

    Chap 7 - Sum

    Uploaded by

    phamvankhoi281005
    Market segmentation involves dividing a market into subgroups with distinct needs, characteristics, or behaviors. There are four main types of segmentation: geographic, demographic, psychographic, and behavioral. When targeting segments, companies can choose between undifferentiated, differentiated, concentrated, or micromarketing strategies. Firms then select points of differentiation such as product, image, services, people, or channels. Positioning maps show brand perceptions on important dimensions like price and benefits. An effective positioning statement identifies the target segment, frames the brand concept, and highlights the point of difference. Communicating the positioning requires using marketing mix elements consistently over time.

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    of 7

    2/26/2024

    Chapter 7

    S Segmentation

    Session 5 T Selecting target segments (Targeting)

    D P Choosing Differentiation and Positioning Strategy

    Market segmentation requires dividing a


    market into smaller segments with distinct
    needs, characteristics, or behaviors that might
    require separate marketing strategies or mixes.

    https://www.menti.com/9eoxu859qc

    1
    2/26/2024

    Segmentation by

    Geographic Demographic Psychographic Behavioral

    Requirements for Effective Segmentation

    2
    2/26/2024

    Market Targeting

    Undifferentiated Differentiated Concentrated Micromarketing

    Targeting Targeting
    Broadly Narrowly

    The Company decides which and how many segments it will target.

    Sources: Adapted from Figure 7.2 Market Targeting Strategies, Chap 7, Text book.

    Examples

    3
    2/26/2024

    Choosing points of Differentiation

    Product

    Image Services

    People Channels

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

    4
    2/26/2024

    Luxury

    Price - Low Price - High


    C

    Economy
    9

    Price

    More More More


    More
    For for the for
    More same less
    Benefits

    The same The same


    for
    less

    Less Less for


    much
    less

    Sources: Figure 7.4 Possible Value Propositions, Chap 7, Text book.

    5
    2/26/2024

    Positioning Statement

    To (target segment and need) …………………………………………………………………………………………………


    our (brand) is (concept) ……………………………………………………………………………………………………

    that (point of difference) ………………………………………………………………………………………………………

    11

    Positioning Statement

    To (target segment and need) our (brand) is (concept) that (point of difference)

    Examples:

    To Busy multitaskers who need help remembering things

    Brand: Evernote

    Is a digital content management application

    That makes it easy to capture and remember moments and ideas from your everyday life
    using your computer, phone, tablet, and the Web.

    6
    2/26/2024

    Communicating and Delivering


    the Chosen Position

    • Positioning strategy should be delivered


    through the Marketing Mix (4Ps).
    • Establishing a position or changing one
    usually takes a long time.
    • Maintaining the position requires
    consistent performance and
    communication.

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