Segment, Target and Position

Segmenting

So you’re a marketer? You have a product? What’s your market? – the market as a whole is huge, and different markets have different customers included in it, but even then to successfully push your product you need to know specific details about the customers in the market and decide which of them you are aiming for. Solomon states that “effective market segmentation delineates segments whose members are similar to one another in one or more characteristics and different from members of other segments.”

Market Segments include:
• Demographic
- Age/Gender/Social Class/Occupation/Income/Ethnic Group/Religion/Stage in life
• Geographic
- Region/Country differences
• Psychographic
- Self-concept/personality/lifestyle
• Behavioural

-Brand Loyalty/extent of usage/usage situation/benefits desired
Solomon also states that the segmentation process is only valid when the following points are met:

- “Consumers within the segment are similar to one another in terms of product needs, and these needs are different from consumers in other segments.
- Important differences among segments can be identified.
- The segment is large enough to be profitable.
- Consumers in the segment can be reached by an appropriate marketing mix.
- The consumers in the segment will respond in the desired way to the marketing mix designed for them.”

Targeting

So once you have segmented the market, you can then think of which segment is best for you to target, no use in targeting those in central London is the company you’re marketing for only delivers to local Kent areas. To reach your targeted group, you need a strategy and these may vary depending on context; who, what, etc...
If there is one specific segment, you might then use one marketing mix to perform as best as possible to that particular group. If there’s many target groups you may decide to use more of the media mix to increase your success, E Marketing is great for you and me who spends countless hours logged online, but if the same product can be aimed at your Nan, the marketers emphasis may be more on the sales promotion attached to it and sent through the post due to her understanding of Facebook is something like this:

Positioning

Market segmented? Check. Target your particular segments? Check...now positioning:
This is VITAL!!! Put yourself in the market at too high a price...there’s going to be no one consuming. Put yourself too low, the consumer may have no trust in your quality. It’s all a balancing act. If you’re marketing a new product with a new company then DON’T challenge the big boys...