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SEGMENTATION TARGETING POSITIONING • Can everybody be your customer? • Does everybody buy your product? • Does everybody remember your product? That’s you should Segment, target and position your product SELECT CUSTOMER TO SERVE DECIDE ON A VALUE PROPOSITION SEGMENTATION DIFFERENTIATION DIVIDE THE TOTAL MARKET INTO SMALLER SEGMENTS DIFFERENTIATE THE MARKET OFFERING TO CREATE SUPERIOR CREATING VALUE FOR TARGETED CUSTOMERS TARGETING SELECT THE SEGMENT OR SEGMENTS TO ENTER CUSTOMER VALUE POSITIONING POSITION THE MARKET OFFERING IN THE MINDS OF TARGET CUSTOMERS SEGMENTATION • Market segmentation is dividing a market into distinct groups with distinct needs, characteristics or behavior who might require separate products on marketing mix. SEGMENTING CONSUMER MARKET GEOGRAPHICAL SEGMENTATION DEMOGRAPHIC SEGMENTATION PSYCHOGRAPGHIC SEGMENTATION BEHAVIOURAL SEGMENTATION GEOGRAPHICAL SEGMENTATION World region or country City or metro size Climate DEMOGRAPIC SEGMENTATION Age Gender Income Occupation Religion PSYCHOGRAPHIC SEGMENTATION Social class Lifestyle Personality BEHAVIORAL SEGMENTATION Occasion Benefit User Loyalty status Attitude towards product REQUIREMENTS OF EFFECTIVE SEGMENTATION Measurable Accessible Substantial Differentiable Actionable TARGETING • Targeting is the actual selection of the segment you want to serve the target market is the group of people or organizations whose needs a product is specifically designed to satisfy EVALUATING TARGET SEGMENTS Size Expected Growth • how large is this target market? Worth pursuing? • even if the market is small, it may be profitable if there are indications that it will grow. Competitive Position • low competition equals attractive market Cost to Reach • Is this market accessible with our tactics? Compatibility • how aligned is this market to our goals? TARGET MARKETING Undifferentiated mass marketing Targeting broadly Differentiated segmented marketing Concentrated niche marketing Micromarketing (local or individual) Targeting narrowly POSITIONING • A product position is the way a product is defined by consumers on important attributes – the place the product occupies in consumers minds relative to competing products. POSITIONING A concept so simple, people have difficulty in understanding how powerful it is! POSITIONING IS A SHARE OF YOUR MIND Harpic Toothpaste? Baygon Deodorant? Coke Lubricants? Maggi Cars? Ispat Chocolates? POSITIONING MAPS CHOOSING A POSITIONING STARTEGY More for more More for the same More for less Same for less Less for much less DIFFERENTIATION PRODUCT ADDITIONAL SERVICE DESIGN PRICE PEOPLE (STAFF) EXAMPLES SEGMENTATION IMPULSE SEGMENT For eating then and there “Khaane walo ko khane ka bahana chaiye” GIFT SEGMENT Purchased to gift some one TARGET MARKET POSITIONING ITC BINGO SEGMENTATION Geography • North • South • East • West Plain Salted Mustard Sting Taste •Salted •Mustard sting •Nimbu •Chilly Spicy Red/ Chilly Nimbu Flavour TARGETING Demographic (Age) 12-20 >50 Age class 35-50 20-35 Psychographic (Attitude/Behavior) Conservative, reserved, shy Outgoing, Fun loving, Bindass POSITIONING Bingo! is positioned as a youthful and innovative snack, offering the consumers with choice in terms of both formats and flavors including Local tastes. Crisp and Clear Punch line RED BULL SEGMENTATION • Red bull avoided usual methods of marketing, relying more on what is called as “buzz marketing” or word-of-mouth • Red bull advertise directly to generation y, then so called millennial: people born after 1981 • ‘student brand managers’ who would be used to promote red bull on university campuses. These students would be encouraged to throw parties at which cases of red bull will be distributed TARGET MARKET Core target market segments of red bull consists of the core age group of 15-60 years Energy drinks with high sugar level are more popular among children and women, while energy drinks with strong taste and flavor are more preferred by male consumers Recent studies also indicate that 65% of the energy drink market consists of male consumers. POSITIONING RED BULL BRAND POSITIONING SEGMENTATION • On the basis of Geography -divided Indian market in telecom circles. -Subdivided States into category A, B and C TARGETING • Earlier elite class above age group of 25 years. • Corporate people and business men. • Again targeted youth by introducing YOUTOPIA plan. • Targeted women and senior citizens by introducing post paid plans. POSITIONING •Tagline- “ EXPRESS YOURSELF ”. • Positioned in premium category aimed at elite class of society. • Perception of aspirational and lifestyle brand. •Airtel decided that the brand should always connote leadership - be it in network, innovations, offerings or services •Sponsored games like Golf. THANK YOU -PHARMA STREET