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part two: making sense of markets. chapter 4 MARKET SEGMENTATION, TARGETING AND POSITIONING. an opening challenge. You are the marketing director of a loss-making brewery. You need to develop new products to revitalise the business but you do not have the resources to launch a full range.

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an opening challenge
an opening challenge

You are the marketing director of a loss-making brewery. You need to develop new products to revitalise the business but you do not have the resources to launch a full range.

How will you choose what type of beer to sell and to whom?

agenda
agenda
  • market selection
  • market segmentation
  • targeting strategies
  • positioning
market attractiveness
market attractiveness
  • market opportunity
  • competitive advantage
  • the objectives of the organisation
segmentation targeting and positioning
segmentation, targeting and positioning

market segmentation

targeting

positioning

market segmentation and targeting why do it
market segmentation and targeting: why do it?
  • many markets are demand-driven
  • consumers and customers are more demanding
  • few mass markets remain
    • markets are fragmenting
what is market segmentation
what is market segmentation?

‘the process of dividing a total market into subgroups (segments) such that each segment consists of buyers and users who share similar characteristics but are different from those in the other segments’ (Masterson and Pickton, 2014)

criteria for determining good market segments
criteria for determining good market segments
  • measurable
  • homogeneous
  • heterogeneous
  • substantial
  • accessible
  • operational
consumer segmentation bases
consumer segmentation bases
  • demographic
    • socio-economic or social grading
  • geographic
  • geo-demographic
  • psychographic
  • mediagraphic
  • behavioural
l ife stage segments brmb tgi
life-stage segments (BRMB-TGI)
  • fledglings
  • flown the nest
  • nest builders
  • mid-life dependents
  • unconstrained couples
  • playschool parents
  • primary school parents
  • secondary school parents
  • hotel parents
  • senior sole decision makers
  • empty nesters
  • non-standard families
  • unclassified
examples of behavioural segmentation bases
examples of behavioural segmentation bases
  • purchase occasion
  • benefits sought
  • usage rate
  • user status
  • readiness stage
  • attitude to product
  • involvement
  • adopter type
  • loyalty status
organisational segmentation bases
organisational segmentation bases
  • macro-segmentation
    • geographic
    • type of organisation
    • industry grouping/business sector
    • customer size
organisational segmentation bases1
organisational segmentation bases
  • micro-segmentation
    • user status
    • trade category
    • benefits sought
    • loyalty status
    • readiness stage
    • adopter type
    • purchasing practices
    • buy class
target marketing targeting
target marketing (targeting)

‘the selection of one or more market segments towards which marketing efforts can be directed’ (Masterson and Pickton, 2014, glossary)

evaluating a segment for targeting
evaluating a segment for targeting
  • sufficient current and potential sales/profits?
  • potential for sufficient future growth?
  • not over-competitive?
  • no excessive barriers to entry or exit?
  • unsatisfied needs that the company can serve well?
positioning
positioning

‘the place a brand is perceived to occupy in the minds of the target market relative to other competing brands’ (Masterson and Pickton, 2010: 148)

positioning strategies
positioning strategies
  • attributes/product features
  • price/quality
  • usage occasions
  • benefits or needs
  • user
  • competitive
    • against another brand
    • a different product class
re positioning
re-positioning

e.g. McDonalds have been trying to move to a healthier

position in people’s perceptions

(photo courtesy of Dave Pickton)

f ive stage process
five-stage process

identify the total market

identify market segments

select target market segment(s)

establish competitors’ positions

establish own position

summary
summary
  • markets are people, not products
  • products should be targeted at specific market groups (segments)
    • use multi-variable segmentation
    • opportunities for differentiation
  • develop clear positioning
reference
reference

Masterson, R. and Pickton, D. (2014) Marketing: An Introduction, 3rdedn. London: SAGE.