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Target Groups - Coggle Diagram

- - - - MRK MNGT can be defined as finding and sustaining a unique and defendable image or position for a product
- - - - Consumer markets can also be segmented on the basis of household life-cycle criteria
    - - Segmenting markets using lifestyle or personality criteria is called psychographic segmentation
- - - - chosen segments must be within reach of communications media and distribution channels
      - Structural attractiveness of a segment
      - Size and growth
      - Objectives and budget of a company
      - Stability of market segments
- - - - The more claims a company makes about its brands, the greater the risk of disbelief.
        
        Positioning mistakes: Under Positioning, Overpositioning, Confusing Positioning
  - - - 􏰀 Identification of competitors
      - 􏰀 Assessment of the consumers’ perception of competitors
      - 􏰀 Analysis of consumers’ preferences
      - 􏰀 The positioning decision
      - 􏰀 Implementation of the positioning
      - 􏰀 Monitoring the position
      - 􏰀 Determination of positions of competitors
      - A company may have to alter the position of its brands to keep up with the changing consumer
        
        The importance of attributes may be changed
        
        A company can introduce a new brand
        
        A company can change an existing brand
        
        Changing beliefs with regard to own-brand benefits
        
        Companies may also attempt to change beliefs with regard to the benefits of competing brands,
        
        New attributes can be added to the perceptual map of consumers