SEGMENTATION – TARGETING – POSITIONING Fragmentation of mass markets segments Consumers: variety of needs & preferences Marketers: offer variety of choices via multitude of marketing offerings Marketing segmentation: Needs Action Linking market needs to an org’s marketing program Market needs Segmentation/Targeting MM A market segment: Group of consumers with homogenous profile & common needs will similarly respond to a marketing program Segmentation – targeting – positioning 1
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Text 6. “STP (What is segmentation‚ targeting and positioning)?” Pre-reading discussion: 1. Why has segmentation become one of the leading concepts in marketing? 2. Can STP process be separated or is it a three-step inseparable process? 3. Can positioning be undertaken before targeting? 4. Do you know marketers well-known or even famous for their ideas about STP? Smith (1957) provided an early definition of segmentation: “Segmentation is based on the observation of evolution in demand
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up in the following three words- segmentation‚ targeting and positioning (STP)” Kotler.P‚ pg278-279. Therefore for the purpose of this paper‚ market segmentation‚ targeting and position will be defined. Following this will be brief explanations on differentiated and concentrated STP strategies. This will then be followed by the case study‚ which being the Accor SA’s internet site. The site will be analysed on how it caters for the different segments of its market. The sites evaluation will categorised
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The segmentation will be based on the company objective to obtain profitable sales by providing a specialized product – the “Active1” – in the sneaker industry. Also‚ the company objective considers the SWOT analysis that determines our firm’s current situation in the market. The strength of the company lies in our expertise knowledge from creating an unprecedented sneaker. For that reason‚ it can match the opportunity of reaching a new segment of the sneaker market that has no direct competition
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SECTION I. THE BUSINESS Acer® Computer Company Description Acer was founded in 1976 in Taiwan. According to Cartmell‚ the original name when founded by Stan Shih and his wife Carolyn Yeh was called Multitech. The name was changed to Acer in 1987. The Acer group has four brands: Acer‚ Gateway‚ eMachines‚ and Packard Bell. Acer Inc. global headquarters is in Taiwan. They do business all over the world and have continent
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Target market A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards.[1] A well-defined target market is the first element to a marketing strategy. The marketing mix variables of product‚ place (distribution)‚ promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace. Market segmentations Target markets are groups of individuals that are separated
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Introduction Market segmentation is a market orientated approach of identifying and satisfying the diverse needs of consumers. The total market is divided into similar segments of people who have similar needs‚ it can be referred to as an approach that subdivides a market along some commonalities or kingship (i.e.) the members of a market segment share something in common. Because Spar falls under the South African food market‚ their approach would be to satisfy the Segmentation variables spar
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(a) Segmentation bases in industrial product markets Segmenting an industrial product market introduces a number of additional bases‚ uses similar bases and also precludes some of the ones more frequently used for consumer product markets. Such bases are: • Type of application/end use e.g. adhesives for home‚ office and industrial use. 3 • Geographical e.g. Scotland‚ Wales‚ North West‚ North East‚ South East‚ East Anglia or by country/region. • Benefits sought: Closely related to the above
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Good Grades in Marketing (Satire) Segmentation‚ Targeting‚ and Positioning Segmentation‚ targeting‚ and positioning together comprise a three stage process. We first (1) determine which kinds of customers exist‚ then (2) select which ones we are best off trying to serve and‚ finally‚ (3) implement our segmentation by optimizing our products/services for that segment andcommunicating that we have made the choice to distinguish ourselves that way. Segmentation involves finding out what kinds of
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Secret Recipe’s Segmentation Variables Marketing segmentation is a process of dividing a market into a meaningful relatively similar and identifiable segment of groups. There are three basic market segmentation which are geographic segmentation‚ demographic segmentation and Physiographic segmentation. Geographic Variable Geographic segmentation is segment the market by region of the country‚ market size and market density. Secret Recipe opened all over the world such as Singapore‚ Indonesia‚
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