Segmentation, Targeting and Position
4. Strategies for the selection of Marketing
All marketing strategy is built on STP - Segmentation, Targeting and Position. A company discovers different needs and groups in the marketplace, targets those needs and groups that it can satisfy in a superior way, and then positions its offering so that the target market recognizes the company’s distinctive offering and image (Kotler and Keller, 2006).
a) Segmentation, Targeting and Positioning
- Segmentation
A market segment consists of a group of customers who share a similar set of needs and wants (Kotler and Keller, 2006).
According to the segmenting consumer markets, we choose to identify the distinct groups of customers on geographic, demographic, psychographic and behavioral.
For geographic segmentation, it is dividing the market into different geographical units such as nations, status, regions, counties, cities or neighborhoods. We decide to focus on the markets of Hong Kong because we believe that Hong Kong is a potential market for fresh and healthy food.
For demographic segmentation, it is dividing the market into groups on the basis of variables such as age, life cycle, life stage, gender, income, generation, education or social class. We identify that as the well-education, people understand the importance of health, people increase their health conscious and people started moving towards low fat and high fiber products to avoid heart disease and certain types of cancer.
For psychographic segmentation, costumers are divided into different group on the basis of personality traits, lifestyle or values. As the improvement of the quality of life in recent year, people pursuing health lifestyle, people want to eat healthily so they care about how much calories and nutrition that they are absorbed.
For behavioral segmentation, customers are divided into groups on the basis of their knowledge of, attitude toward, use of, or response to a product. As the change of the knowledge of a
All marketing strategy is built on STP - Segmentation, Targeting and Position. A company discovers different needs and groups in the marketplace, targets those needs and groups that it can satisfy in a superior way, and then positions its offering so that the target market recognizes the company’s distinctive offering and image (Kotler and Keller, 2006).
a) Segmentation, Targeting and Positioning
- Segmentation
A market segment consists of a group of customers who share a similar set of needs and wants (Kotler and Keller, 2006).
According to the segmenting consumer markets, we choose to identify the distinct groups of customers on geographic, demographic, psychographic and behavioral.
For geographic segmentation, it is dividing the market into different geographical units such as nations, status, regions, counties, cities or neighborhoods. We decide to focus on the markets of Hong Kong because we believe that Hong Kong is a potential market for fresh and healthy food.
For demographic segmentation, it is dividing the market into groups on the basis of variables such as age, life cycle, life stage, gender, income, generation, education or social class. We identify that as the well-education, people understand the importance of health, people increase their health conscious and people started moving towards low fat and high fiber products to avoid heart disease and certain types of cancer.
For psychographic segmentation, costumers are divided into different group on the basis of personality traits, lifestyle or values. As the improvement of the quality of life in recent year, people pursuing health lifestyle, people want to eat healthily so they care about how much calories and nutrition that they are absorbed.
For behavioral segmentation, customers are divided into groups on the basis of their knowledge of, attitude toward, use of, or response to a product. As the change of the knowledge of a