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Positioning
The process of determining the desired position in the market and developing strategies to achieve it.
Consumer Segmentation
Dividing a market into smaller segments based on distinct needs, characteristics, or behaviors.
Geographic Segmentation
Dividing the market based on geographical units such as nations, regions, states, etc.
Demographic Segmentation
Dividing the market based on variables like age, gender, income, occupation, etc.
Psychographic Segmentation
Dividing the market based on social class, lifestyle, or personality characteristics.
Behavioral Segmentation
Dividing the market based on consumer knowledge, attitudes, product usage, or responses.
Multiple Segmentation
Identifying smaller, well-defined target groups within a market.
Experian's Mosaic USA
A system that classifies U.S. households into lifestyle segments and levels of affluence.
Business Segmentation
Using variables like customer operating characteristics, purchasing approaches, situational factors, and personal characteristics to segment business markets.
International Segmentation
Forming segments of consumers with similar needs and behaviors across different countries.
Requirements for Effective Segmentation
Measurable, accessible, substantial, differentiable, and actionable.
Evaluating Market Segments
Considering segment size, growth, and structural attractiveness.
Target Market
A set of buyers with common needs or characteristics that a company decides to serve.
Undifferentiated Marketing
Targeting the whole market with one offer.
Differentiated Marketing
Targeting multiple market segments with separate offers.
Concentrated Marketing
Targeting a large share of a smaller market.
Micromarketing
Tailoring products and marketing programs to specific individuals and locations.
Product Position
How consumers define a product based on important attributes.
Positioning Maps
Visual representations of consumer perceptions of brands on important buying dimensions.
Competitive Advantage
An advantage over competitors gained by offering greater value.
Value Proposition
The full mix of benefits upon which a brand is positioned.
Positioning Statement
A summary of company or brand positioning, stating the target segment, need, concept, and point of difference.
segmentation
Divides the total market into smaller segments
positioning
positioning the market offering in the minds of target customers.
Panera catering to healthy eating (example)
Lifestyle segmentation
age and lifestyle segmentation
divides a market into different age and life-cycle groups.
Gender segmentation
divides a market into different segments based on gender
income segmentation
divides a market into different income segments.
order of marketing from broadest to most narrow
undifferenced, differenced, concentrated, micromarketing
order of marketing from most narrow to broadest
micromarketing, concentrated, differences, undifferenced
