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Module 6:market Segmentation, Market Targeting, and Product Positioning

Market segmentation involves dividing the total market into groups with similar needs and wants. It is based on demographic factors like age, gender, income as well as geographic, behavioral, and psychographic factors. Product positioning refers to activities that create and maintain an idea of the product in customers' minds by battling for positioning in their thoughts. This is done through positioning statements that define the brand purpose and guide marketing efforts, and taglines that convey personality and benefits in a brief, catchy phrase. Examples of well-known taglines include Nike's "Just do it", BDO's "We find ways", and Jollibee's "Bida ang saya".

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136 views16 pages

Module 6:market Segmentation, Market Targeting, and Product Positioning

Market segmentation involves dividing the total market into groups with similar needs and wants. It is based on demographic factors like age, gender, income as well as geographic, behavioral, and psychographic factors. Product positioning refers to activities that create and maintain an idea of the product in customers' minds by battling for positioning in their thoughts. This is done through positioning statements that define the brand purpose and guide marketing efforts, and taglines that convey personality and benefits in a brief, catchy phrase. Examples of well-known taglines include Nike's "Just do it", BDO's "We find ways", and Jollibee's "Bida ang saya".

Uploaded by

janel anne yvette soriano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Module 6 :Market

Segmentation, Market
Targeting, and Product
Positioning
Prepared by: Ms. Joan Joy A. De Vera- LPT,MBM(car)
Target Marketing
process of breaking a market into several segments and then
choosing and focusing the marketing efforts to the selected
segment or segments.
Marketers will be able to focus their marketing efforts on
consumers or buyers who have the most appreciation of the
values of the product
What do you mean by Market
Segmentation?
SEGMENTING THE MARKET

Most companies may find the task of serving the entire consumer
market too daunting. However, should they decide to undertake
this, marketers should consider the following questions:
• Does the product or service appeal to the whole market?
• Does the company have the resources to serve the entire market?
• Is it able to face a large number of competitors?
Market segmentation is the process of dividing
the total market into particular groups or market
segments which consist of people, groups, or
organizations that have similar needs and wants.
Segmentation divides the market based on the following dimensions
or categories:
1. demographic segmentation - based on age, gender, education,
occupation, income
2. geographic segmentation - based on location of customers
3. geo-demographic segmentation - combines demographic and
geographic factors
Example of this is how toddlers desire certain meals and how
adults wear certain clothing . The gender variable is another
important demographic factor for market segmentation because
individuals identify with different points in the gender spectrum like
masculine or feminine, and this primarily affects their choices.
4. psychographic segmentation - based on lifestyle and
personality
5. behavioral segmentation - first time vs. regular users, light
users vs. heavy users
6. other considerations such as occasion or time
What do you mean by
Product Positioning?
POSITIONING THE PRODUCT OR
SERVICE

Product positioning refers to activities undertaken to create and maintain


an idea of the product in the customers' minds. Al Ries and Jack Trout
(1987) consider marketing as positioning the product in the minds of the
customers. Marketing battles, in a sense, are not fought at retail stores but
are waged in the minds of consumers.
Another significant aspect of product positioning is brand
identity. Positioning the product through brands is done by
using positioning statements and taglines.
A positioning statement concisely defines the purpose of the
brand and is meant to guide marketers and other members of the
company in their marketing efforts to ensure that all marketing
decisions stay true to the product or brand identity.

It is also an expression of how a given product, service or brand


fills a particular consumer need in a way that its competitors
don't.
Taglines are brief and catchy statements which are designed
to convey the personality and benefits of the product to
consumers. The same companies mentioned have come up
with taglines based on their positioning statements.
It should be noted that taglines are an integral part of the
brand identity and as such, are often used for long periods.
Can you please give me an
example of Taglines
Nike: “Just do it.”
BDO: “We find ways.”
JOLLIBEE: “Bida ang saya.”
That’s it for today.
Any questions class?

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