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Segmentation, Targeting and Positioning Assignment

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Added on  2019-10-01

Segmentation, Targeting and Positioning Assignment

   Added on 2019-10-01

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Running Head: UNDERSTANDING SEGMENTATION, TARGETING AND POSITIONING 1UNDERSTANDING SEGMENTATION, TARGETING, AND POSITIONING
Segmentation, Targeting and Positioning Assignment_1
UNDERSTANDING SEGMENTATION, TARGETING AND POSITIONING 2Task 1- Segmentation, targeting, and positioningIn this study, I have been assigned with the task of writing a report as a sales and marketing manager by explaining the segmentation, targeting and positioning and how it will be appliedto the company. The company that has been taken into consideration for this study is “Cadbury”.1.Understand segmentation in consumer and business marketsA)An explanation of the followingHow to define a market In order to sell products and services, a company targets a particular market which based on the nature and behaviour of consumers. A market is basically a place, where buyers and sellers accumulate to make a deal. However, targeting a particular market does not mean that a company is excluding individuals who do not fit into the criteria (Dunbar, 2010). Rather defining a particular market is helpful for an organisation to concentrate on their marketing dollars as well as brand message. Some of the ways by which the target market can be defined are as follows:-Observing the present consumer base-Checking out the competition-Analyzing the product and service of the company-Choosing particular demographics for targeting-Considering the psychographics of the target-Evaluating the decisionHow to map a market
Segmentation, Targeting and Positioning Assignment_2
UNDERSTANDING SEGMENTATION, TARGETING AND POSITIONING 3The market highlights the various kinds of position that a particular product or service could take within market on the basis of two dimensions that are essential for the consumers. Some of the dimensions consist of Necessity vs. luxury, light vs. heavy, high price vs. low price andetcetera. The market mapping is mainly done by studying the different market situations that are presented on the map for identifying the trend and parallel variables customers and product or service. The market mapping helps to spot out the gaps in a market, and it also encourages using market research (McDonald & Wilson, 2016). Deciding to what level a market can be segmentedIt has been observed that there are various ways of the market segmentation. However, there is 4 main type of market segmentation that is commonly used by famous companies all acrossthe globe. Once a firm decide the product that they will be going to make then the market segmentation is decided by them. The ways by which a market can be segmented are: evaluating which markets or market that the company wants to pursue, qualifying the chosen market or markets, and gathering as well as analyzing the data on the market that is selected by the company. The different kind of segmentation of market can be done as follows: Demographic segmentation, psychographic segmentation, behavioral segmentation, and geographic segmentation. The bases for segmentation that can be used for consumer marketsThe top four bases that are used for segmenting consumer market are as follows: Geographic segmentation, demographic segmentation, behavioral segmentation, psychographic segmentation.
Segmentation, Targeting and Positioning Assignment_3

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