SEGMENTATION TARGETING AND POSITIONING

 Follow these ONE BY ONE

1. SEGMENTATION

The purpose for segmenting a market is to allow the marketing/sales program to focus on the prospects that are "most likely" to purchase the particular offering. If done properly this will help to ensure the highest return for the marketing/sales expenditures,spending on whether they are selling the offering to individual consumers or a business.

Why should we do segmentation ?

1.Reduction in expenses
Prospects might be businesses that are downsizing (right sizing), businesses that have products in the mature stage of their life cycle or individuals with credit rating problems.

 

2.Improved cash flow

Prospects might be businesses that have traditionally low profit margins, businesses that have traditionally high inventory costs or individuals that live in expensive urban areas.

 

3.Improved productivity

Prospects might be businesses that have traditionally low profit margins, businesses that have recently
experienced low earnings or individuals who have large families.

 

4.Improved manufacturing quality
Prospects might be businesses with complex, multi-discipline manufacturing processes.

5.Improved service delivery
Prospects might be service businesses in highly competitive markets, product businesses requiring considerable post-sale support or individuals in remote or rural areas.

6.Improved employee working conditions/benefits
Prospects might be businesses where potential employees are in short supply.

2.TARGETING




A target market or target audience is a group of customers that the business  has decided to aim its marketing efforts and ultimately its merchandise.A well-defined target market is the first element to a marketing strategy


Target markets are groups of people separated by distinguishable and noticeable aspects. Target markets can be separated into:

• geographic segmentations (their location)

• demographic/socio-economic segmentation (gender,age, income occupation, education, household size, and stage in the family life cycle)

• psychographic segmentation (similar attitudes, values, and lifestyles)

• behavioral segmentation (occasions, degree of loyalty)

• product-related segmentation (relationship to a product

 

Example of targeting can be as follows:

1.World Wrestling Entertainment’s (WWE) target market is young males. Monday Night RAW is the number one entertainment program among male viewers (2 million+) including the male demographics of 18-34, 18-49 and 25-54. It is shown at 9:00 PM ET to reach its target market

The video below tells more about segmentation and targeting by the vice president of global merchandising

3.POSITIONING



Positioning can be said as 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.

Re-positioning involves changing the identity of a product

De-positioning involves attempting to change the identity of competing products, relative to the identity of your own product.

Positioning can also be defined as identifying a market for a brand, product or service utilizing traditional marketing placement strategies (i.e. price, promotion, distribution, packaging, and competition).

Usually the process of positioning is as follows:

1. Defining the market in which the product or brand will compete (who the relevant buyers are)
2. Identifying the attributes (also called dimensions) that define the product 'space'
3. Collecting information from a sample of customers about their perceptions of each product on the relevant attributes
4. Determine each product's share of mind.
5. Determine each product's current location in the product space.
6. Determining the different types of combination according to consumer taste.

So therefore it can be seen that much important is Segmentation Targeting and Positioning for any organisation.


Syed Jafri
Business and marketing management student
BUCKS



                                                      

                                          PERCEPTION

Perception is a process which allows us to organise interpret and ultimately act upon sensory information coming to us from our outside world

 OR

Perception is a process of acquiring interpreting selecting and organising sensory information.

Perception is different from sensation. we all may be having same stimulus but our indivitual perception of it can be different. this is a consequence of our perception where our senses and past experience combines. For example two girls are walking down the street and they pass a boy. one girl think that he is highly fanciable, the other girl thinks otherwise.they both sense the same stimulus but there perception is different as a result of any past experience. the second girl may be a recent victim of any domestic violence so her percepion will be different because of her past exprience of men.

So here we can see that how perception becomes different from sensation.

All human being have 5 senses namely

1.Ear

2.Touch

3 Mouth

4.Eyes

5.Nose

 

These senses always react when ever we get attracted to any kind of product. If we go to buy a food item and when we will look at the product, then our senses will first start interpreting.with the help of these senses we can imagine about the food that how it will be.our eyes look its packaging, our nose will smell the taste, our mouth will be wanting to taste it and our ear can hear the sounds which is come when the food is heated and served.......All these reaction makes us attract more towards the food item and makes us more hungry for it.

So here we can see that how a food item can be analyzed completely with the help of senses

Below is the video to test a perception.

Syed Jafri

Business management student

BUCKS



MY FIRST DAY IN UK AND IN BUCKS

In the beginning when i got admission at BUCKS i was really very excited. As time passed my departure from my country was coming close and i was getting more excited. but at the same time i was also really very sad that i was leaving my complete family alone.I had heard from many people about home sickness and how they feel for the first very month when they are far form each other and now it was my turn to feel this experience.Then the day finally arrived and i landed in UK which was like a dream come true for me.I reached UK on saturday and i prepared myself for the first day at the university.my first day started a bit late in which i missed my first half class because i was busy in completing the leftover formalities, getting my id card time table etc.Then i joined my class in the second half  which was conducted by Mr John Hathway.As the class was going on i was getting more and more comfortable as i founded that my tutor was really good,humourous and even the classmates were also very nice and having an understanding nature.After completing my class i went back to my halls where i am living currently.

I really remember my family very much and also my country also but i always think that there is nothing more important than studies in a persons life.Onces i complete my degree i will feel that i have completed my aim for which i had came to UK.

Syed Ahmed

Business Management student

BUCKS