What Is Marketing?

Marketing refers to activities a company undertakes

to promote the buying or selling of a product or
service. Marketing includes advertising, selling, and
delivering products to consumers or other
businesses.
 INDEX
Meaning of Segmentation

Importance of Segmentation

Types of Segmentation

Meaning of Targeting

Types of Targeting

Meaning of Positioning

Positioning Process
Segmentation:
Market segmentation divides the market
into subgroups of individuals who share
similar needs, wants, and characteristics.
Types Of Segmentation:
1. Demographic segmentation: In this we divides consumers into groups
based on characteristics such as:
Age, Sex, Income, Family size, Occupation, etc.

2. Geographic segmentation: In this we divides the market based

on geographical aspects. It includes:
Country, City, Neighborhood, Climate.

3. Psychographic segmentation: This looks at the intrinsic traits of the

target consumer. Such as:
Style, Values, Personality traits.

4. Behavioral segmentation: This breaks down the market into

subgroups based on consumers' behavior when making purchase
decisions. It can be based on:
Occasions, User status, Usage rate, Loyalty.
Importance of Segmentation:
• Segmentation is essential for firms as it allows them
to understand their market better.

• During segmentation, customers are divided into

smaller subsets based on shared characteristics,
which provides insight into the different types of
customers purchasing the firm's products or services.
Targeting:
Targeting involves deciding which customer segment
or market the firm should be aiming at.

Once a firm identifies all market segments, it must

determine which ones to target and how many. This
strategy aims to identify small, well-defined target
groups.
The different types of target markets to focus on
are:
1. Mass Market: Mass market refers to a large, diverse group of consumers with varied
demographics, interests, and needs.

2. Broad Market: A broad market focuses on a relatively large segment of the overall market
but is more narrowly defined than the mass market.

3. Niche Market: A niche market targets a small, specialized market segment with distinct
characteristics, needs, or preferences. It focuses on catering to a specific subset of customers.

4. Micromarketing: Micromarketing involves targeting an extremely narrow and specific

segment of the market, often based on hyper-local factors, individual preferences, or
personalized marketing efforts.

5. Specific Target Market: A specific target market is a segment precisely defined based on
specific characteristics, behaviors, or demographics. It focuses on a specific subset of
consumers that share common traits.
Positioning:
Positioning involves determining where your brand or
product stands affecting others in the market.

Positioning is a vital part of marketing strategy, as it

influences how customers perceive your product
offering. It is directly related to
your value proposition.

Value proposition is the value a business promises to

bring to its customer when buying a product or service.