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Effective Market Segmentation Strategies for Targeted Positioning

Explore various market segmentation strategies such as behavioral, demographic, psychographic, and geographic segmentation to achieve successful positioning and differentiation in the competitive landscape. Learn the importance of identifying target markets, analyzing competitors, and developing unique positions to cater to specific consumer needs.

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Effective Market Segmentation Strategies for Targeted Positioning

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  1. MARKETING STRATEGYO.C. FERRELL • MICHAEL D. HARTLINE 6 Market Segmentation, Target Marketing, and Positioning

  2. Traditional Approaches to Market Segmentation Mass Marketing Differentiated Marketing Multisegment Approach Market Concentration Approach Niche Marketing Market Segmentation Strategies(1 of 2)

  3. Mass Marketing Strategy From Exhibit 6.1 (1 of 4)

  4. Multisegment Strategy From Exhibit 6.1 (2 of 4)

  5. Market Concentration Strategy From Exhibit 6.1 (3 of 4)

  6. Niche Marketing Strategy From Exhibit 6.1 (4 of 4)

  7. Emerging Approaches to Segmentation One-to-One Marketing Mass Customization Permission Marketing Criteria for Successful Segmentation Identifiable and Measurable Substantial Accessible Responsive Viable Market Segmentation Strategies(2 of 2)

  8. Behavioral Segmentation Segments based on actual behavior or product usage Demographic Segmentation Segments based on demographic factors (e.g., gender, age, income, education, etc.) Psychographic Segmentation Segments based on state-of-mind issues (e.g., motives, attitudes, opinions, values, lifestyles, interests, personality, etc.) Geographic Segmentation Segments based on geographic location Bases for SegmentingConsumer Markets

  9. Type of Organization Organizational Characteristics Benefits Sought or Buying Processes Personal and Psychological Relationship Intensity Bases for SegmentingBusiness Markets

  10. Basic Target Marketing Strategies Exhibit 6.6

  11. Differentiation and Positioning(1 of 2) • Relative perception • Process of creating favorable relative position: • (1) Identification of target market • (2) Determination of needs, wants, preferences and benefits desired • (3) Examination of competitors’ characteristics and positioning • (4) Comparison of product offerings with competitors • (5) Identification of unique position • (6) Development of a marketing program • (7) Continual reassessment

  12. Differentiation and Positioning(2 of 2) • Differentiation Strategies • Product Descriptors • Product features • Advantages • Benefits • Customer Support Services • Image • Positioning Strategies • Strengthen the Current Position • Repositioning • Reposition the Competition

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