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STP (Positioning (Methods (specific product features, benefits or…

- - - - By industry classification
      - By product category
      - By country
    - - Segmentation bases
        
        1.Geographic Segmentation
        
        Dividing according to geographical units :red_flag:
        
        Nations
        
        States
        
        Regions
        
        Cities
        
        Countries
        
        Neighbourhoods
        
        Climate
        
        Landscape
        
        Population density
        
        2.Demographic Segmentation
        
        Most popular segmenting because consumer needs and wants often vary closely with these variables
        
        Age
        
        Occupation
        
        Generation
        
        Gender
        
        Education
        
        Income
        
        Family life cycle
        
        Religion & Race
        
        Nationality
        
        3.Psychographic Segmentation
        
        3.1 Personality characteristics
        
        attitudes and habbits
        
        segmented according to competitiveness, introvert, extrovert, ambitious etc.
        
        applied when there are similar competing products
        
        3.2 Lifestyle
        
        manner people live and spend their time and money
        
        provides with a broad view of customers
        
        eg: cosmetics, alcoholic beverages, furniture
        
        4.Behaviouristic Segmentation
        
        Occasion
        
        User status
        
        Usage rate
        
        Loyalty status
        
        hard-core loyal
        
        split loyal
        
        shifting loyal
        
        switchers
        
        Buyer readiness stage
        
        awareness of the product
        
        knowledge of what it does
        
        interest in the product
        
        preference over competing products
        
        belief of the product’s suitability
        
        Purchase
    - - checking for usability and logical
      - Criteria
        
        Homogeneous
        
        Heterogeneous
        
        Measurable
        
        Substantial
        
        Accessible
        
        Actionable/practical
        
        Responsive
    - - detailed description of consumers
      - needs
      - behaviours
      - preferences
      - demographics
      - shopping styles
    - - firms strategy
      - the attractiveness of the segment
      - the competitive rivalry of the segment
      - the firm’s ability to successfully compete
    - - being different
      - unique
      - superior
      - providing a greater value
    - - suitable products
      - suitable price
      - suitable distribution channel
      - effective promotional program
    - - market data and research findings are added to the profiles
      - evaluate market segments on attractiveness
- - - - Does not focus on a particular market
      - Design products that satisfy largest number of buyers
      - Mass distribution, mass production, mass communication
      - eg: matches, pain killers
    - - Firm identifies several segments but only serve one segment
      - eg: rolex watches, Volkswagen
    - - when individual customer's buying strength is sufficient to create a separate market mix
      - listen to the key customers