market segmentation and market positioning

16
Market segmentation, Market positioning and source, message and media effects of marketing communication

Transcript of market segmentation and market positioning

Page 1: market segmentation and market positioning

Market segmentation, Market positioning and source, message and

media effects of marketing communication

Page 2: market segmentation and market positioning
Page 3: market segmentation and market positioning

Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and priorities, and then designing and implementing strategies to target them.

Market segmentation strategies may be used to identify the target customers, and provide supporting data for positioning to achieve a marketing plan objective.

Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.

Page 4: market segmentation and market positioning

Geographic Segmentation:

In the geographic segmentation ,the market is subdivided on the basis of area. Marketers can segment according to geographic criteria—nations, states, regions, countries, languages, cities, neighborhoods, or postal codes.ie Regional, Urban/Rural, Locality.

Demographic Segmentation:

Demographic segmentation is a statistical study of population in favour of age,gender,education.The various demographic factors are Age,Gender,Income,Education etc.

Page 5: market segmentation and market positioning

Sociographic Segmentation:

The market can be segmented on the basis of sociological factors such as Cultural influence and influence of social class.

Psychographic Segmentation

It refers to individual aspects like life style and personality.

Behavioral Segmentation:

Behavior Segmentation divides consumer into groups according to their knowledge and attitudes towards usage rate to a product.

Page 6: market segmentation and market positioning
Page 7: market segmentation and market positioning

Positioning is identifying and attempting to occupy a market niche for a brand, product or service utilizing traditional marketing placement strategies.

Its objective is to occupy a clear, unique, and advantageous position in the consumer's mind.

Positioning is something happens in the minds of a target market.

Its aim is to make a brand occupy a distinct position, relative to competing brands, in the minds of customer.

Page 8: market segmentation and market positioning

Identifying the business's direct competition (could include players that offer your product/service amongst a larger portfolio of solutions)

Understanding how each competitor is positioning their business today .

Documenting the provider's own positioning as it exists today.

Comparing the company's positioning to its competitors' to identify viable areas for differentiation

Developing a distinctive, differentiating and value-based positioning concept

Creating a positioning statement with key messages and customer value propositions to be used for communications development across the organisation

Page 9: market segmentation and market positioning

Defining the market in which the product or brand will compete.

Identifying the attributes that define the product 'space‘.

Collecting information from a sample of customers about their perceptions of each product on the relevant attributes

Determine each product's share of mind

Determine each product's current location in the product space

Determine the target market's preferred combination of attributes.

Examine the fit between the product and the market.

Page 10: market segmentation and market positioning
Page 11: market segmentation and market positioning

Marketing communication (MarCom) is a fundamental and complex part of a company’s marketing efforts.

Marketing communications are messages and related media used to communicate with a market.

Marketing communications are messages and related media used to communicate with a market.

Those who practice advertising, branding, brand language, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales promotion and online marketing are termed marketing communicators.

Page 12: market segmentation and market positioning

In a marketing context, several sources can be employed in an attempt to reach consumers with persuasive communications.

Consumers perceive companies as sources of information, and some are been as highly credible but others are viewed wit suspicion.

Because of their face to face contacts with current customers’ sales representation themselves are viewed by consumers as information sources.

Media are actually channel links between companies’ and consumers people view them as sources.

At the local level, retailers often act as sources for marketing communications.

Page 13: market segmentation and market positioning

Social media has drastically changed how we communicate.

Not too long ago, we communicated through the mail, on a land-line telephone, and in person.

Today we send text message, leave voice messages, instant messenger, online video phone, and of course interact through internet.

Social commercials market share is rising, thanks to services like YouTube, Facebook .

According to a 2011 study, "88% of all companies that have conducted social media advertising are satisfied with it.

There is a large increase of businesses using video via YouTube for local business pages such as Google Local which was integrated as part of the Google Plus network in 2012.

Page 14: market segmentation and market positioning

Messaging is a popular medium for both social and work related communication.

message strategy consists of a positioning statement and three to four support points. The positioning statement addresses the target market’s most pressing problem by stating a benefit.

A message strategy can be extremely detailed and is like a recipe for all marketing communication.

message strategy makes it easier to deliver the same message in all your marketing communications.

Messages that Matter uses a formal, systematic business process that helps you develop a unique message strategy; one that communicates concrete benefits and sets you apart from the competition.

Page 15: market segmentation and market positioning

www.Wikipedia.com

www.solari.net

www.bussinessdictionart.com

www.investopedia.com

www.messagesthatmatter.com

www.google.com

Page 16: market segmentation and market positioning