1. Understanding Product/Service Positioning
Competencies 76-82
Marketing I

2. Agenda Competencies Describe market identification and segmentation.
Explain positioning and its relationship to target market.
Identify the competition for a selected product or service.
Determine the product/service’s position relative to those of the competition.
Identify the target market of the selected product/service.
Determine the most effective channels to position the selected product/service.

3. Market Identification
Process of identifying the market and most profitable areas in which to offer a product or service
Market refers to people who share similar needs and wants and have ability to purchase
Target Market refers to the group of customers towards which marketing efforts are aimed

4. What is Target Marketing?
Knowing EXACTLY WHO will/ or who does buy your proudt
Knowing EXACTLY HOW to reach them
Identifying those customers by segmenting the market
Marketing based on research of hobbies, interests, needs and ability to purchase the product
“If You Build It, They Will Come”
(…with “target marketing”

5. Market Segmentation Is a marketing strategy
Divide market in to groups with similar needs, interests, and priorities
Allows companies to better satisfy needs of customers

6. Ways to Segment Market Demographics
Demographics are characteristics of a population
Age
Gender
Income
Ethnicity
Education Level
Statistical data

7. Demographics
Age
Gender
Income
Marital Status
Ethnic Background

8. Dividing the market based on geography
Geographics
Dividing the market based on geography
Local, Regional, National, Global
Develop products/ Determine promotion/Target needs based on geography

9. Psychographics Analysis of consumer lifestyles
Research to identify consumer interests, activities hobbies, and opinions

10. Psychographics Involves Targeting by Generation

11. Comparison of Generations

12. Positioning Marketing Stragegy
Process of Identifying Market Niche for product/brand and getting it established
Make a brand occupy a distinct position in the mind of the customer, in comparison to the competition.

13. Relationship of Positioning to Target Market
Positioning creates an image of product or service in mind of customer
The customer has been “targeted” – or is identified as the target market
Positioning is NOT what a company does to a product, but what the company does to a target customer’s mind!

14. How to Position Identify Competitors
Assess Consumers’ Perception of Competitors
Determine Competitors’ Positions
Analyze the Consumers’ Preferences
Make the Positioning Decision
Monitor the Position

16. Project Select a product Identify the market for the selected product
Identify competition of selected product
Determine the product’s position relative to those of the competition
Identify the target market of the selected product
Determine most effective channels to position the selected product
Create a PPT presentation to deliver to the class that summarizes your research
100 Points