Dividing a market into smaller segments of buyers with distinct need, characteristics, or behaviors that might require separate marketing strategies or mixes.
Evaluating each market offering to create superior customer value.
Arranging a market offering to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers.
Dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods.
A set of buyers sharing common needs or characteristics that the company decides to serve.
Target Market Vs. Segmentation
Divide into segments, then choose the ones to target. The decision is the key.
The way a product is defined by consumers on important attributes. -The place a product occupies in consumers minds relative to competing products.
Positioning Statement (Define)
A statement that summarizes company or brand positioning using this form: To (Target segment and need) our (Brand) is (concept) that (point of difference).
Use this to sum up a company and brand positioning.