MKS_Segmentation-Targeting-Positioning.pptx

STP

1. SEGMENTATION TARGETING POSITIONONG Mukul Kumar Shrivastava Assistant Professor

2. Topics of Discussion Concept of Marketing 01 02 04 Differentiation in Segmentation 05 STP(Segmentation/Targeting/Positioning) How Segmentation is done 06 Examples of Segmentation Importance of Segmentation 07 Concept of Targeting 08 What is segmentation 03 Types of Targeting Positioning 09 10 Positioning Factors Benefits of STP 11 12

3. Concept of Marketing 01 Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. OR SATISFYING CUSTOMER’S NEEDS PROFITABLY Marketing:

4. STP ( Segmentation Targeting Positioning) Identify basis for segmentation Determine important characteristics of each market segment Market Positioning Evaluate potential and commercial attractiveness of each segment Select one or more segments. Market Targeting Develop Detailed product positioning for selected segments Develop a marketing mix for each selected segment Market Segmentation 02

5. What is Segmentation Market Segmentation is the process of dividing a target market into smaller, more defined categories. It segments customers and audiences into groups that share similar characteristics such as demographics, interests, needs, or location. 1 Example: Harley Davidson is an example of psychographic segmentation, it targets personalities that are masculine, tall and love to lead a rough lifestyle. It concentrates on the variable of the lifestyle of the consumer. . 03 Market segmentation can helps to understand the target customers’ needs and wants so that resources be utilized in most optimized/ efficient way to acquire or retain the current as well as prospective customers . 2 Example: An athletic footwear company might have market segments for basketball players and long-distance runners.

6. How Segmentation is done Geographic segmentation   divides the market into geographical units such as nations, states, regions, counties, cities, etc. Geographic Psychographic segmentation divides the market into different groups on the basis of psychological/personality traits, lifestyle, or values. Psychographic Behavioural segmentation   divides the buyers into groups on the basis of their knowledge of, attitude toward, use of, or response to a product. Behavioural Demographic Demographic segmentation   categorizes the market on variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, and social class. 04

7. Income Wise Segmentation to reach Targeted Focused Customer-base Targeted Focused Customer Age wise Lifestyle Wise

8. 05 Examples of Market Segmentation Example of demographic segmentation Consider Coca-Cola and Pepsi. Both companies advertise globally, but localize their campaigns for each country, too. The messages are entirely different, based on local customs, religions, nationality, etc Example of geographic segmentation McDonald is an example of geographic segmentation. It customizes its menu that varies from country to country. McDonald’s has introduced burgers with no beef or no pork in it for India. And likewise in Mexico, more chilli sauce is used.

9. Example of behavioural segmentation Airlines, hotel and such industry are the example of behavioural segmentation. Emirates airlines are the best example for it, it offers excellent services to the passengers which helps them retain the customer. Example of psychographic segmentation Mercedes/ Audi/ Rolls Royce is an example of psychographic segmentation, it targets the consumer having the potential of buying luxury cars and having a rich lifestyle.

10. Differentiation in segmentation Market segmentation should be focused on consumer groups and their needs, not on the class of car. Maruti Suzuki is the “people's car”. Affordable for the common man. It attracts customers based on the mileage offered, boot space and number of occupants that can fit in. Merc advertise horsepower, aesthetics, aerodynamics, top speed Luxury car companies are not so much inclined towards maximizing production. 06

11. Importance of Segmentation Market segmentation helps to build a close relationship with the customer, it helps then interact with the customers about the product and help them identify a possible market opportunity. Market segmentation helps the company understand why the consumer likes or doesn’t likes their product. A marketer can have a clear understanding of his consumer thus helps the marketer to formulate meaningful marketing strategies A marketer can satisfy the need of the consumer more effectively. Market segmentation helps in both customer satisfaction and in achieving maximum sales. The segmentation helps in streamlining the other functions of the firm e.g. production, procurement, etc. Market segmentation makes sure that effective use of the resources is being made so as to maximize the profit/ market share 07

12. The Solution to Every Marketing Problem is: Market Segmentation

13. Concept of Targeting 08 Targeting in marketing is a strategy that breaks a large market into smaller segments to concentrate on a specific group of customers within that audience. OR It helps to identify specific, defined group within the market Targeting:

14. Types of Targeting It involves displaying ads based on a website’s content. Think: placing an ad for dishware on a recipe site, or an ad for running shoes on a running forum. . Search retargeting is when you serve display ads to users as they browse the web based on their keyword search behavior.  Site retargeting, also known as just “ retargeting ”, involves showing display ads to users who visited your site and then left without completing a purchase to browse elsewhere. . It helps to analyze the data and predict future buying patterns based on past behaviors.  . Contextual Targeting Search Retargeting Site Retargeting Predictive Targeting Behavioral targeting is the practice of segmenting customers based on web browsing behavior, including things like pages visited, searches performed, links clicked, and products purchased. . Behavioral Targeting 09

15. Positioning Positioning defines where your product (item or service) stands in relation to others offering similar products and services in the marketplace as well as the mind of the consumer. . It provides product a USP(Unique selling point). A good positioning makes a product unique  10

16. Positioning Factors Solve your customer’s problem and provide them with genuine benefits. Functional positioning : Focus on the emotional connection that your customers have with your brand.   . Experiential positioning : Content Here It enhance the self-image, belongingness, or even ego of your customers. The luxury car industry is a great example of this – they serve the same purpose as any other car but they also boost their customer’s self-esteem and image. Symbolic positioning 11 NOTE : The most successful product positioning is a combination of all three factors. 

17. An example of consumers perception of price and quality of brands in the automobile industry are mapped below:

18. Benefits of STP Marketing 5 3 3 2 Text 1 Your  marketing mix  becomes more crystalized and yields higher return on investment because you’re no longer wasting budget on channels that your audience simply ignores; Your  brand messaging  becomes more personal and empathetic because you have your customer personas and know  exactly  whom you’re talking to; Your  market research  and  product innovation  become more effective because you know exactly whom to ask for advice and feedback in the development phase. add a unique zing. 12

19. THANK YOU