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Focusing on Offering (Segmentation (Business market segmentation…
Focusing on Offering
Segmentation
Def - The process of grouping customers in markets with some heterogeneity into smaller, more similar or homogeneous segments. The identification of target customer groups in which customers are aggregated into groups with similar requirements and buying characteristics
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Defra's seven segments
Use to identify appropriate strategic interventions for encouraging pro-environmental behavior among different groups within the UK population
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Created a matrix that ranged from who has high potential and willing and low potential and unwilling
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Markets
Def - a group of people who, as consumers or as part of organisations, need and have the ability, willingness and authority to purchase products in a product class
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Typically encompass a large number of people who may have similar overall needs but are diverse in various ways
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Positioning
Marketers use positioning to differentiate an offering from competing offerings in the minds of the customers
Def - Positioning is arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
The positioning formula (Kapferer, 2012)
- For ... (target consumers)
- Brand X is .... (competitive set and subjective category)
- Which gives the most … (promise or consumer benefit)
- Because of … (reason to believe)
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Perceptual positioning maps Kotler and
Armstrong, 2016)
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Successful positioning depends on four factors (Jobber and Ellis-Chadwick, 2013
Clarity
The positioning statement should be clear and identify the
targeted segment and the differential advantage offered
Consistency
The positioning statement should be enduring so it
becomes associated with an organisation’s offering.
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Targeting
Once segmenting (identifying the opportunities), an organisation will decide which market to serve most profitably and focusing on that market
Target market
Def - ‘a particular portion of the total population which is identified (i.e. targeted) by the marketer or retailer to be the most likely to purchase its products or services
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