This paper assesses marketing segmentation and varying market positioning strategies. A target market is a specific group of customers that desire’s a company’s products. The firm, therefore, customizes the products according to their needs. Customization of products is facilitated by the feedback sent back by customers. Target market segmentation involves grouping of customers according to their similar attributes. There exist four types of target market segmentation. Demographic segmentation is based on age, gender, religion, income, and education. Geographic segmentation is based on customer location. Behavioral segmentation is based on consumer buying patterns and attitudes toward the product. Lastly, psychographic segmentation is on a basis on the personality and lifestyle of consumers.
market segmentation and market positioning strategies
UNDERSTANDING THE TYPES OF TARGET MARKET POSITIONING STRATEGIES
Marketing positioning is the ability to persuade consumers to choose your products over those of competitors. The main objective of market positioning is capturing the perception of consumers regarding a given product. There are diverse marketing positioning strategies. One is according to product attributes and benefits by associating the product with its desirable qualities. Another is the product price by associating the product with competitive pricing. Thirdly is product quality by associating the product with high quality. Fourth is product use by associating the product with a specific use. Lastly is competitors by convincing consumers to prefer your products over competitors. Finally, after the selection of favorable positioning, strategy application is done on the various target market segmentations.
understanding the types of target market positioning strategies
FORMS OF MARKETING COMMUNICATIONS AND THEIR ADVANTAGES
Marketing communications are the messages firms convey to their customers to make sales. After the determination of target market segmentation, different forms of communication are applied to each segment. The differentiation is undertaken because each segment holds different needs and requirements. The various forms of marketing communications are discussed as follows. Personal selling is important in selling expensive items to customers, such as cars. Advertising using print, audio, and visual media is suitable when targeting a large customer base. Lastly, sales promotions are efficient when offering products that require speedy purchasing. The mode of market communication is essential when designing suitable marketing positioning strategies.
marketing communications and their advantages
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