This website uses cookies to ensure you have the best experience. Learn more

Marketing: Segmentation, Targeting And Positioning Essay

1845 words - 8 pages

Nowadays, Segmentation, Targeting and Positioning (STP) is the most used strategic way in Marketing. It is the prime of the available methods that are applied to create marketing models in practice. This model is beneficial when making marketing communication plans because it aids marketers to prioritize ideas and thereby create and advertise unique and appropriate slogans to communicate with various segments this is a segment based strategy rather than a product based strategy. This strategy enables to communicate more appropriate messages to product appealing segments.

Segmentation
Segmentation is a marketing strategy that involves separating a wide target market into small ...view middle of the document...

Positioning is formulating a strategy using tactical development phases to carry out a goal to attain an organizational objective.

Generally the positioning process involves the following steps

Task 2
Micro environmental Factors
There are six primary micro environmental factors that usually influence Boots’ business activities, each of the microenvironment factors consists within itself a self-contained micro environment that is alone but allows interaction between other micro environments. The six primary micro environmental factors are divided into two groups one which directly impacts Boots’ and the other that doesn’t.

The three factors that have a direct impact on Boots are

• Employees
• Stakeholders
• Subcontractors

The three factors which doesn’t impact Boots directly are

• Business perception
• Competitors
• Customers

Macro environmental Factors
Macro environmental factors are factors that cannot be controlled by Boots, external forces that impact how Boots functions. They are mostly out of the businesses reach and mostly require change the operating way of that particular organization, change in production and change in marketing. Marketing analysts usually categorize these as an acronym PESTEL.

The macro environmental factors that affect Boots are given as follows

• Political
• Economical
• Social
• Technological
• Environmental
• Legal

Buyer Behaviour
As well as understanding the needs and wants of customers, Boots also needs to understand what are the factors that motivate a buyer to buy the product, in other words the incentives that Boots provides so that customers buy their products. Understanding the customers enable to distribute the product more effectively and also being able to command an effective price.

Understanding the psychology of how and what makes a customer buy a product and no matter the size of the business understanding this process ensures successful marketing of a product. There are two types of customers and they are as follows

Business customer

Usually a business will go through the following steps for a purchase

• Identifying a necessity or a problem
• Develop a specification for that need
• Find services or suppliers to fulfill that necessity
• Evaluate the services or needs
• Ready to place an order for that product
• Evaluate the performance of the supplier and the product
• Purchase the item if it passes the above criteria

Consumers

There are many models that depict the behavior of a consumer and the steps they go through in order for a purchase. The steps given below give a fair understanding of the models.

• Identifying a necessity
• Finding out information on how to fulfill that necessity
• Finding out the range of products that can fulfill the necessity
• Deciding on which of the range would suit the consumer best
• Using the product

Understanding the behavior of the buyer is crucial to marketing but it does not stop there to be a successful...

Find Another Essay On Marketing: Segmentation, Targeting and Positioning

Mc Donald's : competitor analysis, conduct a SWOT analysis, evaluate current segmentation, targeting and positioning before presenting recommendations

2731 words - 11 pages 1.0 AbstractMc Donald's, the number one fast food chain in the world with over 30,000 restaurants in over 120 countries reported in January 2003 its first quarterly loss of $343.8m in more than 40 years of business. This report aims to investigate the reasons behind Mc Donald's poor performance by using marketing theory and analysis. Concluding with recommendations for improvement.2.0 Introduction2.1 BACKGROUND OF MC DONALDIn 1937 Richard and

Identify the methods use to market this new service in relation to market segmentations, targeting, positioning and marketing mix

3650 words - 15 pages , positioning and marketing mix, customer satisfaction level can be increased. The water taxi service is an alternative way route since there is a limitation to the land transportation.Bibliography *McKenna, R. (1988) "Marketing in the age of diversity", Harvard Business Review, vol 66, September-October, 1988.*Steenkamp and Ter Hofstede (2002) "International market segmentation: issues and perspectives", Intern. J. of Market Research, vol 19, 185-213 *Philip Kotler & Gary Armstrong 7 th Edition" Principles of Marketing, Prentice-Hall International, Inc.*Roger Oldcorn " The management of Business" Printed 1997.

Segmentation and positioning analysis of a new product

779 words - 3 pages IntroductionA gas grill from Honda, a well-respected car company, will have special appeal to the young professional market.DescriptionA generic gas grill manufacturer will partner with Honda Motors to design a gas grill with the Honda logo. The styling and features will capture the essence of a modern Honda vehicle.Features:*Automotive-quality paint on body and frame*Rounded frame made from cast metal (no square steel tube)*Robust tank support

Marketing Research and Market Segmentation

2767 words - 11 pages must reachable from companies. (pride-ferrell,2008; 271) How make target marketing with marketing segmenteation process Market segmentation is subtopic of Target marketing which consist of three steps; market segmentation, market targeting and product positioning. Target market selection process includes 6 steps. First of all, establish segmentation changeable and segment the market. Secondly, evaluate profiles of end upping segments

Strategic Marketing Trough Differentiation and Positioning

920 words - 4 pages & Seamons (2013), a company needs 4 steps of processes in order to create high customer value and achieve profitable customer relationships, segmentation, targeting, differentiation, and positioning. This process will help decides which customers they will serve through segmentation and targeting and how they do it through steps called differentiation and positioning. This paper focused on differentiation and positioning steps in marketing

Marketing Concept and Marketing Segmentation in Practice: Haagen-Dazs

4026 words - 16 pages on three key elements, the marketing philosophy, market segmentation and consumer behaviour. Haagen-Dazs has been noted to practise the consumer-driven philosophy whereby they rely on research to discover consumer preferences, desires and needs before production actually begins. This philosophy stresses the need for marketing research to be conducted in order to better understand where or who a market is and to develop a strategy targeted toward

Marketing Strategy and future positioning of Gordon Highlander Museum

3376 words - 14 pages generation.This report analyzes all the elements (7Ps) of existing marking strategy of GHM and. After assessment of current marketing strategy of GHM, a future strategy option is presented to raise the awareness of visitors and generate income to make ends meet. Finally, how to positioning in future for GHM to gain competitive advantage in the future is concluded in the last section of this report.2.1 7'P's analysis in GHMThe seven elements (7Ps) of the

This report is required to choose a business operating in the tourism sector and describe how the business segments its market and how this segmentation is reflected in its marketing strategy

3605 words - 14 pages Segmentation 44.2.4.1 Segmentation by Purchase Occasions and Brand Loyalty 54.3 An Overall Notion 55 Clarification of Marketing Strategies 55.1 The Marketing Mix Approach 55.2 Product 65.2 Price 75.3 Place 85.4 Promotion 88 Recommendations 99 Conclusion 1010 Appendix 10Appendix A: The Admission Fees for Dreamworld, Movie World and Sea World 12Appendix B: The Cover Page of The Wiggles Magazine 1311 References Executive SummaryThis report is designed to

Customer-Driven Marketing Strategy

1272 words - 5 pages : market segmentation, market targeting, positioning and differentiating (Refer to Appendix 1, Figure 1). The first step is market segmentation. According to Cravens and Piercy (2009), segmenting markets is a foundation for superior performance and it is important to understand buyer’s needs and wants in designing marketing strategy. It is a process of placing the buyers in a product-market into subgroups and it needs to be considered early in the

Social Network Marketing and the STP process

1234 words - 5 pages When using the marketing mix, it is important to keep in mind the three generic stages of marketing-segmentation, targeting and positioning. Segmentation is the detailed breakdown of your customers into as much detail as practical, targeting then ensures all elements of the mix are tailored to your identified consumer group. Positioning is the process of ensuring potential and current customers perceive your company in the intended way

Market Segmentation for Companies

1469 words - 6 pages segments must reachable from companies. (pride-ferrell,2008; 271) How make target marketing with marketing segmenteation process Market segmentation is subtopic of Target marketing which consist of three steps; market segmentation, market targeting and product positioning. Target market selection process includes 6 steps. First of all, establish segmentation changeable and segment the market. Secondly, evaluate profiles of end upping segments

Similar Essays

Segmentation, Targeting And Positioning In A Marketing Mix

1498 words - 6 pages Segmentation, targeting and positioning are interrelated activities which are important to achieving a successful Marketing Mix. Discuss these concepts in theory and give practical examples of how they can be applied to one industry of your choice Executive Summary It has been observed since the inception of Marketing that marketers target to only specific market and how they identify such market. There are certain criteria or base they use to

Segmentation Targeting And Positioning Of Mcdonald's For India

4181 words - 17 pages in which they position themselves to appeal to this segment.3) A parallel will be drawn with an Indian fast food chain (Adiga's). The project will cover the segmentation and targeting adopted by Adiga's and the manner in which they position themselves in the market.4) Data would be collected through a structured market research. The data would be categorized under various groups based on various profile parameters such as age, income etc.5) There

Concept Of Market Segmentation, Targeting And Positioning. Market Segmentation Apply On Hotel And Personal Computer

1986 words - 8 pages the States, it ranks No.2 as leading supplier of PCs to business customers, government agencies, educational institutions and consumers.What's the secret to Dell's stunning success? Dell could best understand customer needs based on right market segmentation, positioning and targeting. After all, the positioning task consists of three steps:For Dell, it provides different ranges for different benefit segments through Direct Marketing. Such

Marketing High Technology: Preparation, Targeting, Positioning, Execution

658 words - 3 pages "Marketing High Technology: Preparation, Targeting, Positioning, Execution" Introducing a new technology offers a marketplace the first opportunity to experience the brand new product. Therefore, the manner in which the introduction is handled is critical. Everything has to come together in what is usually a narrow window of opportunity.In this article, the authors expressing their opinion on how commercialization is the costliest stage of the