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Segmentation, Targeting and Positioning

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Introduction

Segmentation, Targeting and Positioning * Segmentation, targeting and positioning: 'Marketing Knowledge and the value of segmentation' 'Marketing segmentation, a search for the holy grail' * Developments in Segmentation: 'Direct Marketing, rise and fall' 'Markets of a single customer' * Successful segmentation strategies: 'Market segmentation, strategies for success' * Analyzing segmentation for industrial markets: 'Segmentation analysis for industrial markets' * Use of positioning for brands: 'Brand positioning' * Use of positioning strategies in business markets: 'Positioning Strategies in Business Markets' * Post modern segmentation to fragmentation: 'From segmentation to Fragmentation' ' direct marketing' * Segmentation applied in the hotel industry: 'Investors in people in the Moat House International' * The negative side of market segmentation: The Holy Grail? Literature Review According to Kotler 1997, one of the fundamental principles of marketing is that when businesses adopt a market segmentation approach, it can enhance their organizational performance. So profits can be maximized when pricing levels discriminate between segments. The implication is that segmentation allows for improved organizational performance by targeting specific segments of the market (Choffray and Lilien, 1978; Wind, 1978). Segmentation gives businesses the opportunity to develop their strengths further. ...read more.

Middle

One of the most fundamental concerns is that the literature fails to consider some of the more practical constrains on marketers seeking to implement a segmentation approach. There is so much data and statistics, however not all managers are trained to deal with the complexities of statistical analysis. 3) Practical Guidance for segmentation success - There is often surprise at the lack of practical guidance for first time marketers carrying out segmentation analysis. An example of the many typical questions which would arise from a manager carrying out this form of analysis for the first time are: Is there a process that I can follow? Where should I start, and what data do I need? What variables should I use to segment the market? How do I measure the success of segmentation? What can be done to reduce the chances of segmentation failure? The benefits of a clear plan and set of objectives will certainly help the firm to understand what it is exactly they aim to achieve. This will also help them to measure progress of any implementations, there are many process to help businesses plan their segmentation i.e. ...read more.

Conclusion

A current example is the Nike adverts in which the slogan is simply 'just do it.' 3. Separation: In the postmodernist view the product can be separated from its functions. I.e. what could a kitchen mixer be used as? 4. Reversal of consumption and production: Consumers are defined by the experiences acquired through consumption. More products are designed for the feel good factor or good experiences. A person's consumption habits often give them their identity. Customers can now design their own products with the help of technology, (e.g. bathrooms etc) they become the producer and each product is different. 5. Emphasis on form and the acceptance of chaos: The consumer recognises the product by its images rather than the brand. Companies are not just selling a brand they are selling the image and experience. Finally, people have become accustomed to disorder and chaos in the world therefore companies who take this stance provide the greater order that the consumer is lacking in their life. In conclusion, images are becoming increasingly important, both in terms of what the customers seek and also in terms of determining what value the product will eventually bring. Consumption takes place largely to produce a self-image that will result in success according to the customers environment therefore consumers represent multiple images fashioned for the many occasions that each one encounters. ...read more.

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