CB_WEEK 2 NEW mengenai segmenting, targeting, and positioning

cb week 1

1. Understanding Segmentation, Targeting, and Positioning in Consumer Behavior

2. 01 SEGMENTATION

3. Understanding market segmentation 1 Defining market segmentation Market segmentation is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors. 2 Benefits of market segmentation Segmentation allows businesses to tailor their products, services, and marketing efforts to meet the specific needs of different customer groups, leading to increased customer satisfaction and higher sales. 3 Effective targeting through segmentation By segmenting the market, businesses can identify and target the most profitable customer segments , resulting in improved resource allocation and better return on investment.

4. SEGMENTING DEMOGRAPHICS 01 02 PSYCHOGRAPHICS 03 04 GEOGRAPHYCAL BEHAVIORAL strategy begins by dividing the market for a product into groups that are relatively homogeneous and share characteristics that are different from those of other groups. Age Gender Households and Families Social Class Ethnicity

5. Demographic Segmentation Age, Gender, and Income Demographic segmentation involves dividing the market based on age, gender, and income levels to target specific consumer groups. 1 Education and Family Size Consideration of educational background and family size is crucial in understanding the needs and preferences of different consumer segments. 2 Income-based Segmentation Income-based segmentation divides consumers by their income levels, helping businesses customize pricing and offerings to different income brackets. 3 Climate and Cultural Factors Understanding climate and cultural influences helps in tailoring products and marketing messages to resonate with specific geographic consumer groups. 4

6. Behavioral Segmentation Usage Rate Segmentation Usage rate segmentation categorizes consumers based on how often they use a product, allowing businesses to tailor loyalty programs and marketing to different usage patterns. Purchase occasion Segmentation Purchase occasion segmentation groups consumers based on when they make purchases, enabling companies to create targeted promotions for different buying occasions. Brand Loyalty Segmentation Brand loyalty segmentation classifies consumers based on their loyalty to specific brands, helping businesses create retention strategies and tailored marketing for loyal customers.

7. Psychographic Segmentation Lifestyle and Personality Psychographic segmentation delves into consumer lifestyles and personalities, allowing for targeted marketing based on interests, values, and behavior patterns. Social Class and Values Consideration of social class and values aids in identifying consumer segments with similar attitudes and beliefs, enabling effective targeting strategies. Attitudes and Motivations Understanding consumer attitudes and motivations assists in crafting marketing messages that resonate with specific psychographic segments. Values-based Values-based segmentation divides consumers based on their deeply-held values, helping companies create offerings and communications that resonate with specific value systems.

8. https://www.youtube.com/watch?v=F-UO9vMS7AI

9. Importance of market segmentation 1 Enhanced customer understanding Segmentation helps businesses gain a deeper understanding of their customers, allowing them to develop products and services that resonate with specific market segments. 2 Competitive advantage Effective segmentation enables businesses to differentiate themselves from competitors by offering unique value propositions tailored to the needs of different customer segments. 3 Market expansion opportunities Segmentation can uncover new market opportunities by identifying underserved customer segments, leading to potential growth and expansion for businesses.

10. 02 TARGETING

11. Target Market Selection Market Size and Growth Potential Evaluating the size and growth potential of target markets is essential in identifying lucrative opportunities for business expansion and revenue generation. Competitive Analysis Conducting a competitive analysis helps in understanding the market landscape and positioning the brand effectively to gain a competitive edge in the chosen target markets. Resource Allocation Strategic allocation of resources is crucial for effectively reaching and engaging the chosen target markets, maximizing marketing ROI and business outcomes. Consumer Behavior Trends Monitoring consumer behavior trends enables businesses to adapt their strategies and offerings to align with evolving consumer preferences and needs. Choose the most appealing/high-profit potential segments to market to

12. 03 POSITIONING

13. Positioning in consumer behavior Defining positioning Positioning refers to how a brand or product is perceived in the minds of consumers relative to competing products, based on attributes, benefits, and associations. Creating a unique position Effective positioning allows businesses to create a unique and compelling image for their brand or product, influencing consumer perceptions and purchase decisions. Aligning with target segments By aligning positioning strategies with the needs and preferences of specific market segments, businesses can enhance relevance and appeal to their target audience.

14. Positioning Strategies Unique Selling Proposition (USP) Developing a compelling USP helps in differentiating the brand and creating a unique position in the minds of the target market, driving competitive advantage. 1 Perceptual Mapping Utilizing perceptual mapping aids in visually representing consumer perceptions of competing brands, facilitating effective positioning strategies. 2 Brand Personality and Image Crafting a distinct brand personality and image contributes to creating a strong and resonant position in the minds of the target consumers. 3 Emotional Branding Implementing emotional branding techniques helps in forming deep emotional connections with the target market, fostering brand loyalty and preference. 4

15. Benefits of effective positioning Targeted marketing efforts Clear positioning allows for targeted marketing efforts towards the right consumer segments. 1 Enhanced brand loyalty Effective positioning fosters brand loyalty by creating strong emotional connections with consumers. 2 Increased customer satisfaction Well-positioned brands meet consumer needs and expectations, leading to higher satisfaction. 3 Improved price premium Strong positioning enables brands to command premium prices for their products or services. 4

16. Impact of positioning on consumer decision-making Influence on purchase intent Strong positioning positively influences consumers' intent to purchase a particular brand or product. Perceived value and quality Positioning affects consumers' perception of a brand's value and the quality of its offerings. Emotional connections Effective positioning creates emotional connections with consumers, impacting their purchase decisions. Brand preference and loyalty Well-positioned brands often enjoy higher preference and loyalty from consumers.

17. Implementing the positioning strategy Internal alignment and training Ensuring internal stakeholders are aligned with the positioning strategy and providing training to employees to deliver the brand promise consistently. 1 Communication and messaging strategy Developing a comprehensive communication and messaging strategy to effectively convey the brand's positioning to the target market through various channels. 2 Monitoring and adapting Establishing monitoring mechanisms to track the effectiveness of the positioning strategy and adapting to market dynamics and consumer feedback. 3 Repositioning and adjustments Being prepared to make strategic adjustments or repositioning based on market changes, competitive actions, and evolving consumer needs. 4

18. “For ( target audience ), brand ( brand name ) is the ( frame of reference ) that delivers ( benefit/point of difference ) because only ( brand name ) ( reason to believe or competitive edge )

19. Thank You Meta Bara Berutu, S.E., M.M.