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Reading 4: Focusing an offering, Market segmentation - Coggle Diagram
Reading 4: Focusing an offering
1 Markets
Willingness and authority to purchase products in a product class
Aston Market
Items in demand that many people may not have the financial viability to afford.
People with the right salary and therefore enough means to afford such luxury must also have the 'willingness or authority' to make the purchase (Dibb et al., 2016).
Cartier
2 Segmentation
Usage (volume, rate)
Benefits
Price sensitivity
Loyalty
Country
Region
Country/state/province
City
Neighbourhood
Population density
Urban/suburban/rural
Climate
Age
Gender
Ethnicity
Religion
Education
Income
Occupation
Social class
Life stage
Family size
Personality
Lifestyle
Motivations
3 Targeting
Target market
customers' needs and wants
Competitors
The organisation's competencies and resources
Target marketing strategies
Undifferentiated
Differentiated
Concentrated
Customised
4 Positioning
Standard positioning formula
For... (target consumers)
Brand X IS ... (competitive set and subjective category)
Which gives the most ... (promise or consumer benefits)
Because of ... (reasons to believe)
Perceptual positioning maps
Perceptual positioning for car manufacturers
Perceptual positioning of cell phone brands
Four factors dependent on successful positioning
Clarity
Consistency
Credibility
Competitiveness
Market segmentation
