MODULE 3: MARKET SEGMENTATION AND POSITIONING Lecture - 5 FAQS (FREQUENTLY ASKED QUESTIONS): Ques 1 Define Market Segmentation Ans 1 Market segmentation is the process of identifying distinct groups and or sub groups of customers in the market‚ who have distinct needs‚ characteristics‚ preferences and/or behaviors‚ and require separate product and service offerings and corresponding marketing mixes. “Market segmentation can be defined as the process of dividing a market into distinct
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strange word‚ “positioning.” Its origins are shrouded in the fog of history. The popular marketing writers‚ Jack Trout and Al Ries‚ started talking about position or positioning in 1972 or thereabouts‚ and took credit later for having invented positioning. However‚ I believe that positioning was an emerging concept and a term‚ in at least limited use‚ within the marketing and advertising community at the time that Trout and Ries first wrote about it. Certainly‚ the basic concepts of positioning were not
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Sony 1.0 Introduction 1.1 The Industry Sony‚ originally known as the Tokyo Telecommunications Engineering Company‚ dates back over half a century ago to post war Japan in 1946. Sony has since used product innovation and stringent marketing strategies to achieve massive growth to become the world’s leading consumer electronics manufacturer. The Sony brand is directly involved and dedicated to the design and development‚ manufacture and sale of a wide range of electronic devices‚ equipment and instruments
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MARKET SEGMENTATION‚ TARGETING & POSITIONING MARKET SEGMENTATION INTRODUCTION The market for any product is normally made up of several segments. A ‘market’ after all is the aggregate of consumers of a given product. There are different factors contributing for varying mind set of consumers. It is thus natural that many differing segments occur within a market. Since it is virtually impossible to cater for every customer’s individual characteristics‚ marketers group customers to market
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Segmenting‚ Targeting and Positioning: Segmenting Reebok has been a market leader for many years in the sports shoes . It has been able to achieve it through its efficient and effective marketing strategies. Reebok used innovative strategies as per the consumer needs . Reebok segmented the market on the following parameters: Geography: Reebok chose to operate on Pan country basis. where it segmented locations as per the consumers needs. The attribute requirement of the product in one region
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Policy Formulation 10/24/2012 After the agenda has been set and a community recognizes a problem‚ a policy must be formulated to address the issue. A very important part to policy formulation is defining what the problem truly is. This is true for any model in policy formulation. For example‚ one may recognize excessive smoke in the air and define smoke as a problem. In reality‚ the true problem is the fire causing the smoke. It is easier to deal with the symptoms (smoke) rather than
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Chapter 8 Segmenting and Targeting Markets Segmenting and Targeting Markets Characteristics of a Market 1) people or organizations with 2) needs or wants‚ and with 3) the ability and Chapter 8 4) the willingness to buy. Lamb‚ Hair‚ McDaniel 2012-2013 A group of people that lacks any one of these characteristics is NOT a market. 2 Market Segmentation Market People or organizations with needs or wants and the ability and willingness to buy. Market Segment
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5. Develop a positioning statement for your selected target customer(s) that defines the key benefits of the PicDeck service and how the service is differentiated from alternatives that customers might consider. As to every other company trying to develop and achieve competitive advantage over its rivals in times of rapid technological changes and uncertainty‚ it is a big challenge to Ontela to live up to the expectations. The demands of consumers of technologically innovative goods are becoming
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Segmentation and TESCO Case: Segmentation is essentially the identification of subsets of buyers within a market who share similar needs and who demonstrate similar buyer behavior Using segmentation analysis helped Tesco PLC‚ Britain’s largest retailer stores to decide on their future marketing strategy and to appraise their competitive strengths Tesco realized the requirements for effective segmentation and that it must be Measurable‚ accessible‚ Differentiable‚ Substantial and Actionable
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Medium formulation is an essential stage in the design of fermentation process. Most fermentation media require liquid media‚ although some solid-substrate fermentations are also operated. Fermentation media must satisfy all the nutritional requirements of the microorganisms and fulfill the technical objectives of the process. There are several stages where media are required in a fermentation process; inoculum (starter culture)‚ propagation steps‚ pilot-scale fermentations and the main production
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