1. MARKET TARGETING AND POSITIONING

2. WHAT IS TARGET MARKETING? EVALUATING EACH MARKET SEGMENT’S ATRACTIVENESS AD SELECTING ONE OR MORE SEGMENTS TO ENTER.

3. CRITERIA FOR EFFECTIVE TARGETING MEASURABLE SUFFICIENT/SIZE ACCESSIBLE/REACHABLE DIFFERENTIABLE/IDENTIFIABLE ACTIONABLE

4. measurable Size, purchasing power characteristics etc can be measured

5. Acessible Segments can be easily reached and served economically

6. Differentiable Segments are different and respond differently to different marketing mix elements

7. Sufficient /size Should be large and profitable enough to be served Should be the largest possible homogenous group worth going after.

8. TARGET MARKET SELECTION PATTERNS SINGLE-SEGMENTCONCENTRION DIFFERENTIATED MARKETING UNDIFFERENTIATED MARKETING SELECTIVE SPECIALIZATION PRODUCT SPECIALIZATION MARKET SPECIALIZATION

9. SINGLE –SEGMENT CONCENTRATION FIRM CONCENTRATES ON A SINGLE SEGMENT AND GAINS COMPETITIVE ADVANTAGE BY SPECALIZING ITS PRODUCT, DISTRIBUTION ANDPROMOTION HAS STRONG KNOWLEDGE OF SEGMENT’S NEEDS HAS STRONG MARKET PRESENCE

10. DIFFERENTIATED MARKETING FIRMS OPERATES IN DIFFERENT MARKET SGMENTS DESIGNS DIFFERENT PRODUCTS FOR EACH SEGMENT. Eg General motors, Gracekennedy

11. Undifferentiated marketing Firm goes after the entire market with one offer Appeals to the broadest number of buyers Counterpart to standardization usually sells at lower costs Eg coca –Cola (drink market) and IBM (computer market)

12. Selective specialization Firm selects a number of segments, each objectively attractive and appropriate

13. Market specialization Firm concentrates on serving needs of a particular customer group eg. Selling to university laboratories

14. Positioning defined The act of designing the company’s offering and image to occupy a distinctive place in the minds of target market

15. Developing and Communicating a Positioning Strategy Positioning According to Ries and Trout – Strengthen own current position – Grab an unoccupied position – De-position – Re-position – Product ladders Positioning According to Treacy and Wiersema – Value disciplines Product leader Operationally excellent firm Customer intimate firm

16. – Treacy and Wiersema propose that a business should follow four rules for success 1.Become best at one of the three value disciplines. 2.Achieve an adequate performance level in the other two disciplines. 3.Keep improving one’s superior position in the chosen discipline so as not to lose out to a competitor. 4.Keep becoming more adequate in the other two disciplines, because competitors keep raising customers’ expectations. Developing and Communicating a Positioning Strategy

17. Positioning errors Under positioning Over positioning Confused positioning Doubtful positioning

18. Underpositioning Buyers have only a vague idea of the brand Brand is seen as just another entry in a crowed market

19. overpositioning Buyers have too narrow an image of the brand Important features may be missed

20. Confused positioning Company makes too many claims about the or change the brand positioning too often

21. Doubtful positioning Buyers find it hard to believe the brand based on prices, product, or manufacturer