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SEGMENTATION,
TARGETING AND
POSITIONING (STP)
Steps
Steps in
in Segmentation,
Segmentation,
Targeting,
Targeting, and
and Positioning
Positioning
6. Develop Marketing
Mix for Each Target Segment Market
5. Develop Positioning Positioning
for Each Target Segment
4. Select Target
Segment(s)
Market
3. Develop Measures
of Segment Attractiveness
Targeting
2. Develop Profiles
of Resulting Segments
1. Identify Bases Market Segmentation
for Segmenting the Market
Market
Segmentation
What is Market Segmentation?
Market segmentation is the process of
dividing the total market for good or service
into several smaller groups.
Individual marketing
Extreme marketing in which marketers
focus on individual customers.
Keep track of individual tastes &
preferences of individual customers
Many companies are approaching individuals
through e-mails to promote their products.
Levels of Market Segmentation
Niche marketing
Marketers effort to position their product or
service in smaller markets that have similar
attributes and have been neglected by other
marketer
Segment further divided into sub segments to
cater unsatisfied needs of small group is
called as niche
Levels of Market Segmentation
Local marketing
marketers offer customized products to suit
the local markets.
KFC introduced “Muslimized” or “Pakistani”
products such as Spicy Chicken, Hilal
Chicken, Zinger Extreme and more…
Bases for Consumer Market Segmentation
Market
Segementation
Demographic
Age, Psychographic Behavioral
gender, Life style, Occasions,
Geographical income,
Regions, cities, occupation,
personality, Benefits,
states, countries values, Usage rate,
religion,
social class, beliefs Loyalty status
family size
Bases
Bases for
for Segmenting
Segmenting Business
Business Markets
Markets
Personal Demographics
Characteristics
Bases
Bases
for
for Segmenting
Segmenting
Situational Business
Business Operating
Factors Markets
Markets Characteristics
Purchasing
Approaches
Bases
Bases for
for Segmenting
Segmenting International
International
Markets
Markets
Industrial
Industrial Markets
Markets
Geographic Political/
Political/
Geographic Economic
Economic Legal
Legal
Cultural
Cultural
Requirements
Requirements for
for Effective
Effective Segmentation
Segmentation
Measurable
Measurable • Size, purchasing power, profiles
of segments can be measured.
Accessible
Accessible • Segments must be effectively
reached and served.
Actionable
Actionable • Must be able to attract and
serve the segments.
MARKET TARGETING
MARKET TARGETING
Once the firm has identified its market-segment
opportunities, it has to decide how many and which
one to target.
Single-Segment Concentration
Selective Specialization
Product Specialization
Market specialization
Selective Specialization:
Process in which the company focuses
its resources on a few segments and
develops its expertise in fulfilling the
needs of those segments
Selecting the Market Segments
Product Specialization :
The firm makes a certain product that it
sells to several segments
Market specialization:
The firm concentrates on serving many
needs of a particular customer group.
Example: A firm sells assortment of
products only to university
laboratories.
Selecting the Market Segments
Undifferentiated marketing
Differentiated marketing
GUIDELINES FOR SELECTING TARGET
MARKET
it should be consistent.
It should meet organizational goals.
It should be consistent with organizational
resources.
It should generate sufficient profit volume.
It should have competitors small in size and
number.
MARKET POSITIONING
Positioning
In marketing, positioning has come to mean
the process by which marketers try to create
an image or identity in the minds of their target
market for its product, brand, or organization.
Kotler defined: “designing an offer so that
it occupies a distinct and valued place in
the minds of the target customer.”
Positioning
Positioning
“Image that customers have about a product in relation
to the product’s competitors”
Positioning Strategy