SEGMENTING, TARGETING &

POSITIONING OF EVENTS & CONCEPT OF Module 2

PRODUCT IN EVENT
FEATURES OF EVENT MARKETING
1. wide range of events:
2. goal oriented
3. effective promotion & communication
4. proper evaluation
5. feedback from clients
6. location
IMPORTANCE OF EVENT MARKETING
1. it helps in brand building
2. to highlight the added features of product/services
3. helps in rejuvenating brands during the different stage of product life.
4. repositioning a brand
5. creating & maintaining brand identity.
SEGMENTING & TARGETING OF EVENTS
 segments must be measurable, reachable, profitable & accessible
Market segmentation is the process of dividing the broad consumer or business
market, normally consisting of existing & potential customers into subgroups of
consumers based on some type of characteristics
1. geography
2. demographics
3. firmographics
Segmenting on the basis of what industry they work for, or segmenting on the basis of
job they do.
4. psychographics: psychography is a study of personality, values, attitudes, interests
& lifestyle
5. behaviour
TARGETING
Meaning: targeting is the process of identifying the most attractive segments, usually
the ones that are most profitable.
 successful marketing is about targeting the right person, at the right time with the
right message.
 there are three ways which could help in the marketer in discovering opportunity
audience & shape campaign themes, messaging content & media buys.
1. Consumer interests
2. Consumer emotions
3. Emotional drivers
POSITIONING
 positioning helps to create a distinct image of the brand & the product or service in
the mind of the consumers in comparison with other products or brands.
 positioning is broadly classified into three
1. Functional positioning: provides solution to problems & benefits to customer
2. Symbolic positioning: creating a brand image.
3. Experiential positioning: a sensory & cognitive simulation in the minds of the
customer.
Key considerations while repositioning
1. location
2. attention span
3. competitive costs
4. program
5. keep it simple
CLASSIFICATION OF EVENTS
A. size B. type
1 mega events 1. sporting
2. regional events 2. entertainment, arts & culture
3. major events 3. commercial marketing & promotional
events
4. minor events
4. meeting & exhibitions
- board & committee meetings
5. festivals
- seminar/ workshops
6. families
- professional/ technical
7. fund raising events
-state & regional conventions
8. others
- annual conventions
CATEGORIES OF EVENTS
1. competitive events 2. cultural events
- stock market games 3. exhibition events
- financial consulting - an exhibition is a market place where
one or more sellers display their goods
- entrepreneurship series and services to a group of buyers.
- public relations project - trade exhibitions
- consumer exhibitions
4. special business events 5. charitable events
- seminars & conferences - charity fitness events
- trade show - charity auctions
- executive retreats & incentive program 6. artistic expressions
- appreciation event - art festivals
- company or organization milestone - art fair
- team building - theatre festival
- product launch events 7. retail events
- board meetings & shareholder meetings
7. retail events
BENEFIT LEVELS – CORE, GENERIC, EXPECTED &
AUGMENTED
 Customers will choose a product based on their perceived value of it.
 satisfaction is the degree to which the actual use of a product matches the
perceived value at the time of the purchase.
 a customer is satisfied only if the actual value is the same or exceeds the perceived
value.
 Philip Kotler, an economist, devised a model that recognizes customers have five
levels of need, ranging from functional or core needs to emotional needs.
5 LEVELS OF A PRODUCT
1. core benefit
The fundamental need or want that consumers satisfy by consuming the product or
service.
2. generic product
A version of the product containing only those attributes or characteristics absolutely
necessary for it to function.
3. Expected product:
The set of attributes or characteristics that buyers normally expect and agree to
when they purchase a product.
4. Augmented product:
The inclusion of additional features, benefits, attributes or related services that serve
to differentiate the product from its competitors.
5. Potential product:
This includes all the augmentations and transformations a product might undergo in
the future. To ensure future customer loyalty, a business must aim to surprise and
delight customers in the future by continuing to augment products.