stp.pptx about the stp information #imp #terms
- 4. • Segmentation: Involves finding out what kinds of consumers with different needs exist.
- 5. Process involved in Segmentation 1.Identify the existing and future wants in the current market 2.Examine the attributes that distinguish the segments 3.Evaluate the proposed segment ,attractiveness on the basis of measurability, accesibility,and size
- 6. Step 1. Market Segmentation Bases for Segmenting Consumer Markets Geographic Nations, states, regions or cities Demographic Age, gender, family size and life cycle, or income Psychographic Social class, lifestyle, or personality Behavioral Occasions, benefits, uses, or responses
- 7. Market Segmentation - Principles • Segmentation Variables – Geographic – Demographic – Psychographic – Behavioral – Other (anything!) • No single best way to segment a market. • Often best to combine variables and identify smaller, better- defined target groups.
- 8. Geographic Segmentation • Divide markets into different geographic units. • Examples: – World Region or Country: North America, Western Europe, European Union, Pacific Rim, Mexico, etc. – Country Region: Pacific, Mountain, East Coast, etc. – City or Metro Size: New York, San Francisco – Population Density: rural, suburban, urban – Climate: northern, southern, tropical, semi-tropical
- 9. Demographic Segmentation • Use Differences in: – age, gender, family size, family life cycle, income, occupation, education, race, and religion – Most frequently used segmentation variable • Ease of measurement and high availability. – Usually the worst variable to use.
- 10. Behavioral Segmentation • Occasion – Special promotions & labels for holidays. – Special products for special occasions. • Benefits Sought – Different segments desire different benefits from the same products. • Loyalty Status – Nonusers, ex-users, potential users, first- time users, regular users. • Usage Rate – Light, medium, heavy.
- 12. User & Loyalty Status Segmentation
- 14. Step 1. Market Segmentation Levels of Market Segmentation Mass Marketing Same product to all consumers (no segmentation) Segment Marketing Different products to one or more segments (some segmentation) Niche Marketing Different products to subgroups within segments ( more segmentation) Micromarketing Products to suit the tastes of individuals or locations (complete segmentation)
- 15. Differentiated (Segmented) Marketing – Targets several segments and designs separate offers for each. – Coca-Cola (Coke, Sprite, Diet Coke, etc.) – Toyota (Camry, Corolla, Prius, Scion, etc.)
- 16. Micromarketing • Tailoring products and marketing programs to suit the tastes of specific individuals and/or locations.
- 17. TARGETING • Targeting is defined as a group of people or organisations for which an organisation designs , impements and maintains the marketing mix .
- 18. Selecting target market • Homogeneous preference :- soft drinks market(Coco cola ) • Diffused preferences :- automobile market,HUL having different brands for soaps . • Clustered preferences :- occupation having impact on the types cloths worn.
- 20. Patterns of Target Market Selection: Product x Market Matrices
- 21. Positioning Placing aproduct occupies in consumers’minds relative to competing products.
- 22. Remember this important point. Positioning is all about 'perception'.
- 23. Bases of positioning the product • Attribute positioning :- size or number of years in existence • Eg : Sunfeast positions its snacky brand as bigger lighter and crisper.
- 24. • Benefit positioning : Product is positionedd as the leader in a certain benefit. • Eg : Hyundai santro • Headline – India’s best –loved family car is now also India’s ‘simplestcarto drive’
- 25. • Use orApplicationpositioning • Positioning the product as best for use and application . • Eg: Kenstar positioned its product as UNEXPECTEDLY COLD
- 26. • User positioning:- for some user group • Eg :- Parle-G for kids
- 27. • Competitor positiong :- the product claims to be better in some way than a particular competitor .
- 28. • Quality and price positioning :- The product is positioned as offering the best value . Eg : Big Bazar
- 29. Positioning Strategy • Competitive advantages • Points of Parity • Points of Difference => Differentiation Positioning results from differentiation and competitive advantages. Positioning may change over time.
- 30. Choosing the Right Competitive Advantages • Thebest competitive advantagesare… – Important – Distinctive – Superior – Communicable – Pre-emptive – Affordable (to company and consumer) – Profitable Moral: Avoid meaningless differentiation.
- 31. Positioning Errors • Under-positioning: – Not positioning strongly enough. • Over-positioning: – Giving buyers too narrow a picture of the product. • Confused Positioning: – Leaving buyers with a confused image of the product.