- Segmentation, targeting and positioning in marketing
- Introduction
- Market is a set up, which involve two or more people transacting goods and service in exchange of money. It involves buyers and sellers. It is the duty of marketers to inform the consumers all relevant things relating to products. This is essential for consumers to be aware of the brand’s existence.
- Market segmentation
- This is a concept which divides the whole complete market into smaller divisions consisting of consumers with similar taste, demand and preference. A market segment is a small unit within a large firm compromising of like minded consumers. For a segmentation to be done marketers should consider gender. This means that both men and women have got different taste and preferences with certain products. This concept brings to segmentation of the market due o different interests (Cant, 103). This segmentation is mostly done in cosmetics and footwear. Marketers should also consider age group while deciding on a market segment. For example, teenagers require totally different commodities as compared to kids. They should also consider the level of income of the individual. This means that they should classify the consumers according to their level of income that is whether high, low or middle income. Market segmentation also should be as per marital status. They should also consider the kind of occupation one is doing before they divide the market.
- There are various types of market segmentation. These are:
- Psychographic segmentation
- In this kind of segmentation, the marketers classify the consumers according to their taste, interest and individual attitude.
- Behaviouralistic segmentation
- This involves the loyalties of individual customers which help the marketers to classify the customers according to their loyal towards a particular brand.
- Geographic segmentation
- This is classification of customers according to their geographical areas. In this type of segmentation, one should consider the location of its potential customers in terms of regional, state or national marketplace.
- Targeting in market
- After one has grouped the market to various segments, one needs to choose a certain segment that needs to be given total concentration (Das, 124). This means that the company selects a specific segment that will be the focus of advertising. The main concept behind this stage is that the company can’t sell its products to everyone successfully. The needs and habit of people are so varied to an extent that a company is unable to make a product that is universal to everyone. The main reason to why companies use market targeting is to create more power to a given brand. When a company is able to figure out to whom exactly it sells its products and what compels the customers to buy the product then it is able to create advertising campaigns that communicate the brand worldwide. This method is also appropriate when an organization want to get information on how much they will sell.
- Positioning in a market
- In this process, a company manipulates a certain brand in order to create a positive perception in the eyes of consumers. When a product is well positioned, it increases the sales thus creating more profit. While positioning a number of things should be considered so that the product is well positioned in an effective manner. These ways include;
-
- The targeted audience
- Identification of product characteristics
-
- This means that the marketers should be well convinced of the features of the commodity and its benefit as well. In addition, it should know exactly the importance of the product.
- Unique selling proposition
- The marketers should understand how best their products can work. This entails that they should know the working power of their product. That it how best their product can do in relation to the demand. In addition, they need to know the usefulness of the products.
- Know its competitors
- Marketers must be able to figure out the level of competition. After they have known he level of competition they should let their customers to know how best their products can do in relation to competition.
- Ways of promoting brand
- They should come up with various ways of promoting brand. This means that they should advertise their product in a way that the consumers will not be confused.
- Maintain the position of brand
- For an effective positioning to take place, it is necessary for a company to meet the demand of the end users.
- Work cited
- Cant, M C. Marketing Management. Cape Town, South Africa: Juta, 2006. Print.
- Das, Gupta D. Tourism Marketing. Delhi: Pearson, 2011. Print.
788 Words 2 Pages
