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7/23/2019 Chapter2 Markettargeting 120605101814 Phpapp02
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MARKETTARGETIN
G
By-
Abhijith
R.
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G
Market Segmentation???
-It is the process ofdisaggregating the total
market for a given prodctinto a nmber of sb-markets.
-!he heterogeneos marketis divided into a nmber ofrelatively homogeneosnits.
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"eed?
!he marketing concept calls forunderstandingcustomersandsatisfying their needsbetter thanthe competitors . Bt di#erentconsmers have di#erent trends$ andit rarely is possible to satisfy all
cstomer by treating them alike.
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Mass Marketing
Mass marketing refers tothe treatment of the
market as a homogeneosgrop and ofering thesame marketing mix toall customers. It allo%seconomies of scale to be
reali&ed throgh massprodction$ massdistribtion$ and mass
commnication.
'ra%back-(stomer needsand preferencesdi#er and at thesame o#ering is
likely to be vie%edas optimal by all
cstomers.
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Micro Marketing Micro marketing recogni&es the diversity of
cstomers and does not try to please all ofthem %ith the same o#ering.
)bjectives*
-+nderstand the characteristics of thecstomers.
-Identify the vale , protability of di#erentsegments.
-Identify the si&e and characteristics of the
market in %hich they operate.
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MassMarketingSameproducttoallconsumers
(nosegmentation)
MassMarketingSameproducttoallconsumers (nosegmentation)
SegmentMarketingDifferentproductstooneormoresegments
(somesegmentation)
SegmentMarketing Differentproductstooneormoresegments
(somesegmentation)
MicromarketingProductstosuitthetastesofindividualsorlocations
(completesegmentation)
MicromarketingProductstosuitthetastesofindividualsorlocations
(completesegmentation)
NicheMarketing
Differentproductstosubgroupswithinsegments
(moresegmentation)
NicheMarketing
Differentproductstosubgroupswithinsegments
(moresegmentation)
evels of Segmentation
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Steps in Segmentationrocess
Identify the target market.
Identify e/pectations of target adience.
(reate Sbgrops
Identify sitable marketing mi/ for eachgrops.
0ind ot %hich grop to focs.
Select those segment %hich o#er highpotential.
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Stages of Identifying Market
Segments
Srvey
!he researchers condct e/plorative intervie%sto identify cstomer motivations$ attitde andbehavior.
Analysis
Researches applies factor analysis to the data toremove highly correlated variables , then appliesclster analysis to create a specied nmber ofma/imally di#erent segments.
roling
1ach clster is proled in terms of itsdistingishing attitdes$ behavior$ demographics$psychographics$ and media patterns.
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Market Segmentation of*
(onsmer Marketand
Bsiness Market
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Bases for Segmenting (onsmer Markets
Two major Approaches to Segmentation are:
Attitudes
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Segmenting for Bsiness Markets
'emographic'emographic
Sitational 0actorsSitational 0actors
2eographic2eographic
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Benets of MarketSegmentation
3. )ne cstomer grop is distingished from another %ithin agiven market and this enables to decide %hich segment ofthe market shold form as target market.
4. 0acilitates in-depth stdy of the characteristics of the byers.
5. 6elp the marketing man to develop the marketing programmeon a predictable and reliable base.
7. More sitable 8marketing o#ers9 for a particlar segment iseasily developed.
:. Sitable marketing mi/ is achieved.
;. 'e to concentrated e#orts most prodctive and protablesegments of markets are achieved.
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Implementing Market Segmentation
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Market segmentation in variosindstries
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INDIAN CAR INDUSTRY
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. OYATY SEGMENTATION
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BRA"'Perce!t"a# Ma!!ing
!his techniGe involves stdying the consmer9s perception
of the prodct and competitor9s brands and based on itidentifying the vacant slots.
!his involves
3. Stdying the ideal prodct perception Hstdying bothtangible and intangible attribtes that a cstomer look %hilebying a prodct.
4. 2et the cstomers to rank these attribtes in the order ofimportance to them.
5. (stomer9s kno%ledge of the competitors brands.
7. Based on these assessment of competitor brands on the
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()MM)" )SI!I)"I"2 S!RA!12I1SI" !61 ()"S+M1R '+RAB>1 S1(!)R
1. Benefit or use positioning:-The positioning strategies adopted by
consumer durable companies depend a lot on usage , economy andcorporate identity of which a well established brand surely projects
the identity of the product in terms of which corporate house the
product is form.
2. Competitor related positioning
:-
This is the strategy of placing afirms brand next to the leader in the market and trying to uproot it on a
specific tangible variable.
3. Lifestyle positioning:-A firm could even position the brand as a
lifestyle contemporary or futuristic.
4. Positioning by corporate identity:-This type of positing is seen verymuch with consumer durables when a tried and trusted corporate
identity .
5.Surrogate positioning:-ere the product cant be positioned
differently on the basis of attributes but differentiated by positioning
them on the surrogates for the attributes.
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!"#$T$"%$%& !A'A($&)#Monopolistic competition prevails in the contemporary marets. Product
differentiation and price differentiation are the main features of
monopolistic competition. !he mareter must reinterpret the productdifferentiation as a meaningful consumer benefit.
(ompetitive
advantage
(ompany
standing
(ompetitor
standing
Importance of
imprvgstd
A#ordability ,
speed
(ompetitors ability
to imprvstanding
Recom-mended
action
!echnology
= = > > M 6old
(ost ; = 6 M M Monitor
Dality = ; > > 6 Monitor
Service 7 5 6 6 > Invest
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POSITIONING OF SERVICES
*ecause of intangibility and other features associated with the services,consumers find that differentiation of services is more difficult and complex.
!ositioning involves giving the target market segment the reason for buyingthe services and thus underpins the whole marketing strategy.
#ome specific strategies are+
". #ttribute positioning:-A service provider positions itself based on an attribute or a
feature.
2.Benefit positioning:-)ost service providers resort to benefit positioning as the generalpsyche of the customer is to analy-e the benefit that he derives by using a particularservice.
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(ontdF
5.+se or application positioning*-!he service is positioned
as the best for a certain application.
7.+ser positioning*-!he service is positioned for a specictarget grop of sers.
:.(ompetitor positioning*-!he service is positioned by theprovider against a competitor9s service o#ering.
;.(atogory positioning*-!he service provider positionsitself as the category leader and becomes synonymos%ith the service.
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