Relationship among market segmentation target marketing and positioning

RELATIONSHIP BETWEEN MARKET SEGMENTATION, TARGETING AND POSITIONING »

relationship among market segmentation target marketing and positioning

TARGETING = SELECTING and FOCUSING on the most appropriate market segment or segments POSITIONING = Developing a SPECIFIC MARKETING MIX . of target marketing, including; market segmentation (ii) market targeting .. elasticity can be defined as the relationship between changes in. by doing so one can target the right audience for the right product. Answer: Market Targeting is next. And after targeting, the next stage is market positioning.

Nokia offers handsets for almost all the segments. They understand their target audience well and each of their handsets fulfils the needs and expectations of the target market. Tata Motors launched Tata Nano especially for the lower income group.

relationship among market segmentation target marketing and positioning

Once the organization decides on its target market, it strives hard to create an image of its product in the minds of the consumers. The marketers create a first impression of the product in the minds of consumers through positioning.

Positioning helps organizations to create a perception of the products in the minds of target audience. Ray Ban and Police Sunglasses cater to the premium segment while Vintage or Fastrack sunglasses target the middle income group. Ray Ban sunglasses have no takers amongst the lower income group. Garnier offers wide range of merchandise for both men and women. Each of their brands has been targeted well amongst the specific market segments.

relationship among market segmentation target marketing and positioning

Men, women, teenagers as well as older generation Men - Sunscreen lotions, Deodorant Women - Daily skin care products, hair care products Teenagers - Hair colour products, Garnier Light Fairness cream Older Generation - Cream to fight signs of ageing, wrinkles A female would never purchase a sunscreen lotion meant for men and vice a versa.

What do you understand about market market segment market segmentation market targeting market positioning? How is market segmentation used in target marketing? A market can be divided according to where consumers are located. On a trip abroad you might have noticed that people enjoy more outdoor activities …than back home.

Difference between Market Segmentation, Targeting and Positioning

You could also be surprised by the amount of people that like drinking hot coffee at the beach in Rio de Janeiro. If you visit this website you will see differences in food preferences around the world. Understanding cultural differences between countries could be pivotal for business success, consequently marketers will need to tailor their strategies according to where consumers are.

Geographic segmentation is the division of the market according to different geographical units like continents, countries, regions, counties or neighbourhoods. This form of segmentation provides the marketer with a quick snapshot of consumers within a delimited area.

Geographic segmentation can be a useful strategy to segment markets because it:.

Difference between Market Segmentation, Targeting and Positioning

But this strategy fails to take into consideration other important variables such as personality, age and consumer lifestyles. Failing to recognise this could hinder a company's potential for success. For example some youth groups across the world appear to be somewhat similar. Youth groups will tend to listen to similar music and follow similar fashion trends. If you were to do a quick check of people's nationalities in a 18ss club in Mexico, you would find a very international clientele.

You might have found that you can befriend foreign people of your same age easily because you share common interests.

What is the relationship among market segmentation and target marketing

A very popular form of dividing the market is through demographic variables. Understanding who consumers are will enable you to more closely identify and understand their needs, product and services usage rates and wants.

relationship among market segmentation target marketing and positioning

Understanding who consumers are requires companies to divide consumers into groups based on variables such as gender, age, income, social class, religion, race or family lifecycle [insert diagram g]. On a trip abroad you might have noticed that people enjoy more outdoor activities than back home. Understanding who consumers are requires companies to divide consumers into groups based on variables such as gender, age, income, social class, religion, race or family lifecycle [insert diagram g].

Exactly what is the relationship between market segmentation target marketing and positioning What damage will be done to a companys target marketing and positioning efforts if markets are incorrectly? Segmentation, target marketing, and positioning all work together and as Walker describes, need to be reviewed and analyzed by a firm to make sure they are all addresse…d to best compete in the marketplace.

They are similar in that they are required to be in place for a company to successfully compete in the marketplace. They are different as they perform different function.

Targeting / Target Market Selection - Marketing Video Lecture by Dr Vijay Prakash Anand

Segmentation groups customers with similar characteristics. The grouping of the customers needs to be meaningful and the groupings are called segments.