Market Segmentation and Product Positioning Strategies
Learn about market segmentation, product positioning, and how to differentiate your brand from competitors. Understand the importance of demographic and psychographic characteristics in targeting your audience effectively. Develop a clear positioning statement tailored to your target market, showing how your brand stands out and appeals to consumers.
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Presentation Transcript
1. Market Analysis 2. Market Selection 3. Marketing Mix
1) Market Segmentation 2) 3) Product PositioSegment Targetingning
Dividing prospective buyers into groups that have common needs and/or desires, and will respond similarly to a marketing action. Relatively ___________collection of prospective buyers.
Demographic: ________. Demographic: This is just a fancy word for Psychographic: characteristics that you cannot __________ nevertheless important. Psychographic: These are segmentation cannot __________but are
- Product positioning is what comes to mind when your target market thinks about your product compared to your competitor s products.
- What comes to your mind when you hear Ferrari? - What comes to your mind when you hear Hyundai?
A concise description of your target market and how you want that market to perceive your brand. It is not marketing or promotional statement; positioning statement is an internal tool. Every product and marketing decision you make regarding your brand has to align with your positioning statement.
Simple Memorable Clear Credible Tailored to the target market. Shows how your brand/product differentiates from your competitors.
For [Target Market], the [Brand] is the [Point of Differentiation] among all [Frame of Reference] because [Reason to Believe].
The point of differentiation how your brand or product benefits customers in ways that set you apart from your competitors. The frame of reference or category in which your competes. The reason to believe providing compelling evidence and reasons why customers in your target market can have confidence in your differentiation claims. point of differentiation (POD) describes frame of reference (FOR) is the segment reason to believe is a statement
For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books. Unlike traditional book retailers, Amazon.com provides a combination of extraordinary convenience, low prices, and comprehensive selection.
For todays appearance-conscious business, the Underfoot Industries EverAwesome line is the carpet that stays new-looking longest among all commercial-grade carpets. Our patented technology produces durable, low- wear carpet whose lifetime cost is 40-80% lower than other brands. The brand name EverAwesome tells customers: This carpet looks great, AND it will last a long time.
Get into groups of three or four. Come up with a positioning statement for Red Corntos. Come up with a slogan for Red Corntos. The slogan must align with positioning statement.
