Segmentation, Targeting and Positioning in a Marketing Mix

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Segmentation, targeting and positioning are interrelated activities which are important to achieving a successful Marketing Mix. Discuss these concepts in theory and give practical examples of how they can be applied to one industry of your choice Executive Summary It has been observed since the inception of Marketing that marketers target to only specific market and how they identify such market. There are certain criteria or base they use to identify the consumers who they would be serving to. Customers do have unique requirements satisfaction levels and aspirations. Some customers however are similar with respect to their requirements of goods and services. In such case if their needs are identified and they can be grouped in quantities of a specific size then it can be segmented. Now each customer group have specific expectations and businesses must cater to the needs of the segmented that has been targeted. Marketing involves activities to find right people for the business and then gaining their attention and retaining them for life. There are many theories marketers employed to stand their business out of crowd or at least make it visible. To make any business efficiency and effective, it is important to seek the target customer market. There are primarily three main areas to consider while identifying the target market. Those are as follows; Market Segmentation It does involve grouping of people (customers) into segments that do share common needs or will give a common reaction to a marketing event by the business. Toyota’s third generation Prius has created a new segment for hybrid cars along with its competitors. This segment caters to the need of the environmentally conscious buyer. This has opened up a whole new ... ... middle of paper ... ... get delivered at home. Price: Kingfisher uses competitive pricing strategy Promotion: Kingfisher follows its tagline in all its campaigns i.e. “King of Good Times”. As advertising of alcohol is banned in most of the places thus Kingfisher uses surrogate advertising methods like sodas and mineral water. It also merchandizes sports goods and accessories under its brand name (Kingfisher, 2013). References Kingfisher. (2013) retrieved from http://kingfisherworld.com/ United Breweries Limited. (n.d.). Annual Report 2011-12. Retrieved 2013,May 30, from http://www.theubgroup.com/PDF/UBL_Annual_Report_2011_12.pdf Simkin,L. & Dibb, S., (1975) TARGETING, SEGMENTS AND POSITIONING, International Journal of Retail & Distribution Management,19(3). Stavros P. K, Markos H. Tsogas & Charles B, (2011) "Positioning strategies in business markets", Emerald 15, (2000)

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