Mind Map Of Marketing Segmentation, Targeting And Positioning (STP)

Segment must be large enough to warrant a special marketing mixSegments must be identifiable and their size measureableMembers of targeted segments must be reachable with marketing mixUnless segement responds to a marketing mix differently, no separate treatment is needed.Segmentation Bases - Characteristicsof individuals, groups, or organizationsused to divide a total market into segments (variablesA group of people or organizations for which an orgnization designs, implements and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchangesMarketing approach thst views the market as one big market with no individual segemntsA staretgy used to select one segment of a market for targeting marketing effortsA strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each Market Segmentation, Market Targeting and Market PositioningMarket Segmentation The important of Market Segmentation Criteria of successful market segmentation PositioningTarget Market SubstantialityIdentifiability & Measureability AccessibilityResponsivenessBases for Segmenting Consumer MarketsMarketMarket SegmentMarket SegmentationPeople or organization with needs or wants and the ability and wilingness to buy A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needsThe process of dividing a market into meaningful, relatively similar, identifiable segments or groupa variety of product needs and preferencescan better define custoer needs and wants more preciselycan define objectives and allocate resources more accuratelyGEOGRAPHICDEMOGRAPHICPSYCHOGRAPHICBENEFITSUSAGE RATERegionMarket sizeMarket densityClimateAgeGenderIncomeRace/EthnicityFamily life cyclePersonalityMotivatesLifestyleGeodemographicBenefits soughtFormerPotential1st timeLight/IrregularMediumHeavyUndifferentiated StrategyComcentrated Strategy Multisegment StrategyPositioning : A process that influences potential customers overall perception of a brand Position : The place a product, brand, or group of products occupies in consumers mind relative to competing offeringsRepositionsChanging perceptions of a brand in relation to competing brandsPositioning BasesAttritudePrice and QualityUse or ApplicationProduct userProduct ClassCompetitorEmotion
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