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Segmentation, Targeting and Positioning - Coggle Diagram

- - - - (e.g.) Nike has Nike Men, Nike Golf, Nike Women, Nike Football and more to target different segments of the market.
  - - - Customer's needs and wants are the same and anyone could be a target customer
        
        (e.g.) Clothes hanger and clothespins
  - - - (e.g) Vegan Burger only sells strictly vegan burgers
  - - - (e.g.) Nike By You allows customers to design their own shoe and NIke will produce the customised shoe according to the design done by the customer
      - (e.g.) Tailored suits
- - - - Continent (Africa, Asia etc.)
        
        Most useful for companies whose product satisfy needs very by region
        
        (e.g.) Indonesia's population is mostly muslim and muslims are unable to consume pork, hence exports of pork to Indonesia are not as much as compared to other countries whose entire population is able to consume pork.
    - - Lifestyle, self-concept. self-values
        
        How people choose to allocate their time and what underlying psychographic reasons determined this choice
        
        (e.g.) Some people are keen to go shopping while some prefer vising nature when on a holiday
    - - Age, gender, income and education
        
        Companies will use information to know which group of audience to cater to more
        
        (e.g.) Demographics of people using Tiktok are mostly Gen Z and millennials
    - - Convenience, prestige, economy etc.
        
        Needs and wants of consumer satisfied by product benefit
        
        (e.g.) Mint flavoured toothpaste are bought and used by people who would like fresh breath
    - - Occasion, loyalty, etc.
        
        When and why customers consumer product
        
        (e.g.) Starbucks Reward program rewards loyal customers with free drinks when certain number of points is accumulated every time customers spend at Starbucks
- - - - (e.g.) Most people know Airpods are bluetooth earphones by Apple and know they can purchase it from Apple stores
  - - - Cater to consumer needs
- - - - Symbol
        
        (e.g.) Well designed logo
      - Competiton
        
        (e.g.) Ahead of competitors
      - Salient Attributes
        
        (e.g.) Cheap
      - Value
        
        (e.g.) Anti-slip flooring
      - Perceptual Map
        
        Displays position of products or brands in two or more dimensions based on consumer
        
        Identify competitors' positions
        
        Study how competitors position themselves
        
        Determine consumer preferences
        
        Identify the market's ideal points and size
        
        Marketers represent size of current and potential markets by using a larger circle to represent a larger market size
        
        Select the position
        
        Determine consumers' perceptions and evaluations in relation to competitors'
        
        Marketers determine their brand's position by asking a series of questions about their firm's and competitor's products and select 2 dimensions to depict
        
        Monitor the positioning strategy
        
        Diagram 1 in Docs (Coggle does not permit me to upload images)