Segmentation indicates the division of the population. Targeting is the process of selecting the segments determined previously. Positioning is done on the basis of competitive bids. It is important for a company to differentiate its product or service in the consumer's mind.
- It is impossible to consider each individual and make a tailor-made campaign to sell a product or service to him.
- Segmentation involves dividing the total potential market of a product or service in distinct and homogeneous subsets. It also involves evaluating those who are likely to respond to the offer in a favorable way, in order to enable the company to adapt its marketing policy to one, or several subsets.
The positioning of a product can help find a suitable market, given the best conditions for successful integration and trade, so as to guide the choice of consumers in order:
-to identify the buyer of the product
-to mark the differential characteristics
-to fix the boundaries of performance compared to competitors, and
-to associate the symbolic representation of the product with recognized values
Tags: Segmentation, Targeting, Positioning, differential characteristics, symbolic representation
[...] o The criteria for lifestyle and personality o The demographic, geographic and socio-economic criteria - The criteria for segmentation of industrial markets are : o The criteria of operating environment (industry sectors, company size, use of product or brand etc.) o Organizational and behavioral criteria (policy purchase, buyer-seller relationship etc.) o Situational criteria (urgency of execution, application of the product, order size, etc.) Targeting - Three strategies may be adopted to achieve good targeting: o The counter-segmentation or undifferentiated marketing, which corresponds to the proposal of a mix suited to the largest segment by volume, value, or image, hoping that the benefits are also favorable to other segments. [...]
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