Segmentation, Targeting and Positioning Assignment

Segmentation, Targeting and Positioning - Assignment ExampleEffective segments are identifiable, measurable, accessible, goodly and actionable.The next step entails selecting customers whose needs can be served by the marketer in the best feasible manner. The segment so chosen is the target market. The worth of each segment in terms of gross revenue potential and pro tote up potential is gauged while selecting the target market. It is a good idea to select a segment that is underserved by the existing blemishs. In the ultimate analysis, the target market should make the best fit with the companys capabilities and market offerings.A product cannot be everything to everyone. The marketer, therefore, creates a distinct position of his brand in the minds of the consumer in relation to other competing brands through the process of positioning. The task of positioning begins with deciding the venue in customers mind, analyzing competitors positioning, identifying gaps and ends with cr eating a position in the minds of the consumers. Positioning may be done on the plank of quality, service or price. Marketers may also position their products on consumers expectations and desires.The entire process of segmentation, targeting and positioning is a long drawn one. The marketers however conscientiously select STP as the concept goes hand-in-hand with the marketing mix. All major decisions including the basis of product differentiation are taken keeping in mind the STP.Advertising is a paid form of mass discourse done by an identified sponsor. On the other hand, publicity is free and comes from a neutral and honest source. The marketer has full control over advertising whereas publicity is essentially noncontrollable.