Marketing Segmentation, Targeting and Positioning Essay

Words: 1401
Pages: 6
Open Document
1. Describe in your own words, market segmentation, give an example of how a market may be segmented, and explain the reason for segmentation. 2. Explain the principles of targeting and give two examples of a targeted market. 3. Discuss what is meant by positioning using two example of a business positioned in differing market sectors

Marketing consists of a range of techniques designed to sell a product/service. It focuses on customers and their needs, firms generally undertake research aimed at finding out about their customer’s requirements. A well planned marketing campaign involves a range of methods including; market positioning, Market planning, identification of target markets and market segmentation. Consideration of …show more content…
Once a target market there are a number of marketing methods that can be used these include: undifferentiated marketing or mass marketing, differentiated marketing, concentrated marketing, and micromarketing/ niche marketing.
Mass marketing generally involves no segmentation of the market and is a sort of one size fits all method. Differentiated marketing is aimed at one segment with different marketing techniques used to engage the different segments of the market; this is also called multi segment marketing. Each segment is targeted individually and uniquely, the company provides particular benefits to the different segments. This method often increase sales but is more costly than a single marketing campaign. Concentrated marketing is defined and detailed it focuses on specific segments of the consumer population. It is of use in small companies but does not generally increase overall profits. Niche marketing is even more specific it is done via the purchase of data bases relating to the segments a company has defined In order to understand market targets a little better it is useful to consider examples.
The Kraft company that make Oreo cookies has a range of markets and has made its cookies differently to suit its target markets, the segmentation is based principally on
Show More

Related Documents: Marketing Segmentation, Targeting and Positioning Essay

Topic Six Essay

Market Segmentation, Targeting and Positioning Session 6 7 Segmentation & Targeting LB5202 Marketing Management 1 Learning Outcomes After this session you should be able to: • Explain market segmentation and the bases • Explain the requirements for effective segmentation: – measurability, accessibility, substantiality, actionability • Discuss the process of evaluating and selecting market segments • Explain positioning for competitive advantage 7 Segmentation & Targeting LB5202 Marketing Management…

Words 1588 - Pages 7

Essay on Market Segmantation, Targeting, and Positioning

MARKET SEGMENTATION MEANS  Market Segmentation  Market Segments  Product Differentiation  Segmentation: Linking Needs to Actions  The Zappos Segmentation Strategy Slide 9-3 Market Segmentation Market segmentation involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action. Slide 9-4 FIGURE 9-1 Market segmentation links market needs to an organization’s marketing program through marketing mix actions…

Words 1026 - Pages 5

Explain How Marketing Managers Position Products In The Target Market

Marketing 8th Canadian Edition Powerpoints prepared by: Victor Bilodeau Grant MacEwan University - School of Business © 2011 McGraw-Hill Ryerson Ltd. All rights reserved. Market Segmentation, Targeting, and Positioning © 2011 McGraw-Hill Ryerson Ltd. All rights reserved. Learning Objectives After reading this chapter, you should be able to: 1.Explain what market segmentation is and when to use it. 2.Identify the five steps involved in segmenting and targeting markets. 3.Recognize the different…

Words 907 - Pages 4

Business: Marketing Strategy Essay

Principles of Marketing September 2, 2012 Abstract In this paper I will define segmentation and discuss its uses for my product/service. I will also be discussing target markets and competitive advantages. Assessing Marketing Opportunities When trying to understand the marketing strategy of any product you must first formulate the marketing strategy (The Essence is Marketing Strategy 2005). Formulating a marketing strategy is understanding that any decision could comprise a marketing strategy…

Words 825 - Pages 4

Chapter 07 Essay

Chapter 7 Segmenting and Targeting Markets What are Markets? • Market: people or institutions with sufficient purchasing power, authority, and willingness to buy • Types of Markets Requirements of a Markets  Need +  Ability  Willingness  Authority Role of Market Segmentation Market Segmentation: division of the total market into smaller, relatively homogeneous groups Why? Levels – Mass, Segment, and Niche Why segment? Most efficient One Mass Market Most effective Many Groups…

Words 825 - Pages 4

Essay about Mgt 501 Case 1

Case Study MKT 501: Consumer Behavior: Segmentation and Targeting Professor Dr. Gordon Leichter May 14, 2012 Abstract The assignment reviews industry practices which involve segmentation, targeting and positioning. I will attempt to explain these three consumer behaviors below. The airline industry will use the above mentioned practices in order to enhance and or improve marketing strategies. In order for this to take place and marketing analyst must develop techniques to observe consumer…

Words 1741 - Pages 7

Define The Role Of Marketing In Organization

Chapter 1— Overview of Marketing Define the role of marketing in organization Marketing: Marketing is the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Core Aspects of Marketing Marketing is about Satisfying Customer Needs and Wants Marketing Plan: a written document composed of an analysis of the current marketing situation, opportunities…

Words 3470 - Pages 14

Essay on Consumer Behaviour

2)Information search 3)Evaluation and alternatives 4)Purchase decision 5)Post- purchase decision MARKET SEGMENTATION Target market: it divides the markets into groups of people who have similar characteristics. The process of splitting a market into smaller groups with similar product needs or identifiable characteristics, for the purpose of selecting appropriate target markets. Targeting: it identifies the group most likely to respond to your communication and therefore, be profitable. Target…

Words 416 - Pages 2

Marketing Plan For BMW Australia

Marketing Plan for BMW Australia (BMW i8) By: Mohamed Farah Student ID: s3300347 Program: BUSM1524 Marketing Management (Spring 2014-2015) Lecturer: Tiffany Winchester Table of Contents Executive Summary 1 1. Background Analysis 2 2. Marketing Objective & Business Strategy 3 2.1 BMW Australia Market-Share Objective 3 2.2 Strategic Business Unit 3 3. Segmentation, Targeting & Positioning 4 3.1 Market Segmentation for BMW i8 4 3.2 Targeting 7 3…

Words 4139 - Pages 17

Customer Driven Marketing Strategy: Creating Value for Target Customers Essay

Customer-Driven Marketing Strategy: Creating Value for Target Customers 1) When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________. A) concentrated marketing B) mass marketing C) market targeting D) segmenting E) differentiation Answer: C Diff: 2 Page Ref: 191 Skill: Concept Objective: 7-1 2) What are the four steps, in order, to designing a customer-driven marketing strategy? A) market segmentation, differentiation,…

Words 7987 - Pages 32