market segmentation targeting and positioning

PRINCIPLE OF MARKETING

MARKET SEGMENTATION TARGETING AND

POSITIONING

LIST THE VARIOUS SEGMENTATION VARIABALE THE

COMPANY CAN USE TO SEGMENT THEIR

MARKET

demographic

GENDER AGE

INCOME

BRIEFLY EXPLAIN WHY YOU HAVE SELECTED EACH

ARE

PSYCHOGRAPHIC

SOCIAL lifestyle

AGE

Age plays an integral role in how companies promote their products online and offline. Segmenting your market by age often involves diversifying pricing and color options, and adjusting features to fit the anticipated needs and expectations of each age group A bookstore releasing a new decade-specific book written about growing up in the 1980s, might send a promotion to customers born in the 1980s, for example.

GENDERWhile the target market for a given product can include females and males, one gender may represent a larger share of a company's target market. Businesses can segment their markets by gender, and come up with variations of their products devoted to serving a specific gender or alter their marketing campaigns to appeal to the male or female segment. A company that manufactures men and women's clothes may create a segment for the women customers and promote a new dress line they're offering to them, while promoting a

new tie line to the men.

Income levelWhen companies develop pricing strategies for their brands and products, they consider the income levels of their target markets. Salary, or income level, is an example of a demographic segmentation businesses use when they prepare to introduce a product to the market or initiate a sale. For example, designers such as Zac Posen and Isaac Mizrahi have created affordable clothing and accessories, sold at Target, to reach customers who cannot afford their high-end, more expensive lines.

Social class•Is the single most used variable for research purposes, and divides the population into groups based on the occupation of the 'Chief Income Earner' (CIE), as such it can be seen as asocio-economic scale. In the UK, The National Readership Survey, provides the following standardised groupings.

lifestyle

•Involves classifying people according to their values, beliefs, opinions, and interests. There is no one standardised lifestyle segmentation model, instead market research firms, and advertising agencies are constantly devising new categories, which will best help target possible consumers of their clients products.

WHICH SEGMENT

COULD THE COMPANY AIM

FOR???

THE AIM OF MARKET SEGMENT

Consider some examples.• There are around three really successful

supermarkets in the UK, with Tescodominating

• Software is dominated by Microsoft and Google. • BMW, Mercedes and Audi dominate the market for

executive cars• For many years. the US car market was dominated by

just Ford and General Motorswith American Motors trailing

There are a number of reasons for this:• A dominant supplier controls the market and sets

expectations of price and quality• He develops a reputation and brand, he is highly

visible• There is a “comfort factor” in buying from a market

leader• Customers come to him first

For old skin 40 above20 above

Loreal cosmetic

Laoreal hair colour

Loreal for man

segmentation

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THE END……