Marketing Management

Running head: MARKETING MANAGEMENT
Marketing management
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1MARKETING MANAGEMENT
Introduction
In the current business scenario, marketing management concept is much more diverse
and complex that it was a few years ago. This is mainly due to the reason that competition is high
in the current time with the presence of number of players operating in different business sectors.
Thus, with the increase in the competition in the market, companies are initiating distinctive and
innovative marketing strategies to stay ahead in the competition. However, on the other hand, it
should also be noted that prior to the initiation of the different marketing activities, the target
market should be properly identified due to the reason that different customers are having
different sets of preferences and requirements. Therefore, it is important for the business
organizations to identify the exact customer segments in accordance to their product and service
offerings.
On the other hand, segmentation of the customers involves different concepts and steps,
which should be maintained in a sequential manner to have the positive and favorable outcome.
This includes segmenting, targeting and positioning. Each of these elements are being done in
segregating the target customers based on different variables and designing approaches
accordingly. It should also be noted that effectiveness of the segmentation, targeting and
positioning is also depended on different situations and the extent to which the organizations are
implementing the strategies effectively. Different business organizations are having different sets
of business environments and thus they are following different approaches in respect to the
segmentation, targeting and positioning.
This essay will discuss about the effectiveness of segmentation, targeting and positioning
in different situations and how they can be aligned in different situations in terms of their

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variables. In addition, a few practical and real world examples will also be used to identify the
differences in implementing the segmentation, targeting and positioning elements along with
identifying the gap areas. Recommendations will be discussed in accordance to these gap areas
in this essay.
Segmentation, targeting and positioning
In segmenting the customers, targeting and positioning elements are also being included
due to the reason that segregating the customers on the basis of different variables will serve the
primary purpose of differentiating the customer sections. However, it is also important to design
the strategies for targeting the segmented customers. These strategies will also be different and
diverse based on the trends of the segmented customer sections. Moreover, positioning is also
important due to the reason that based on the trends of the segmented customer sections; brand
and offerings should be positioned. This positioning should also be done based on the taste and
preference pattern of the customers. For instance, in the case of the luxury customer segments,
lifestyle positioning is important to attract more customers. Thus, it can be concluded that each
of these three elements are important in initiating the segmentation strategies properly. The
following sections will discuss in detail about each of these elements.
Segmentation
Segmentation is the primary element in the entire process. This refers to the process of
dividing the different customer sections based on different variables. This is being done in order
to identify the particular customer section in accordance to the offerings of the organizations.
According to Venter, Wright and Dibb (2015), segmentation should be done from the
perspective of the customers. This is due to the reason that in the current marketing scenario,

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taste and preference pattern of the customers should be given the major focus in segmenting
them, which will help the marketers in designing their offerings accordingly. Moreover, the
authors have also stated that segmenting on the basis of the requirements of the customers will
help the organizations in meeting the expectations of the customers properly and effectively.
Thus, it can be concluded that segmentation on the basis of the benefits sought by the customers
can an effective choice in segmentation.
However, on the other hand, there are number of opposite views also being identified
where the different other variables of segmentation are given importance. Schlegelmilch (2016)
stated about the other major ways or processes of segmentation. According to the authors, all
these models are effective in different situations. One of the major variables of segmentation is
demographic segmentation. This refers to the process of segmenting the customers on the basis
of age, income and genders. Thus, demographic factors are used as the segmenting factors. One
of the major advantages to be gained by initiating the demographic segmentation is convenience.
This is due to the reason that demographic factors are relevant in any market situations and thus
the marketers can initiate the segmentation strategies accordingly. However, on the other hand,
Khoo-Lattimore and Prayag (2015) stated that initiation of demographic segmentation will also
prove challenging for the business organizations. This is due to the reason that basic
segmentation can only be done on the basis of demographic factors. In addition, demographic
segmentation will not enable the organizations in segregating the customers on their benefits
sought. For instance, segmenting on the basis of the demographic factors will not help the fast
moving consumer goods manufacturers in identifying their target customer segments. This is due
to the reason that based on the age group, they have identified a target group but among this
group there are customers with different benefits sought and behavioral factors.