SEGMENTATION- segmentation is the process of clubbing together similar customers in a group. so that they can be served by a marketing mix especially designed for the group or segment. a company can continue to segment its market into smaller and more homogeneous groups and design special marketing mixes for them. segmentation can be used as a vehicle for entering a market.
TARGET MARKETS- a company may not have the resources and the capabilities to design marketing mixes to serve all the segments. a company will decide to serve one or more segments depending upon its capabilities and resources. the segments that a company chooses to serve by designing special marketing mixes are called target markets.
POSITIONING- positioning is the process of creating a distinct offer and communicating it to the customer. positioning is created by designing a marketing mix which is suitable for the target but is different from marketing mixes of other providers. the smaller and more homogeneous the target market is for which a marketing mix is designed, the stronger will be the positioning, i.g. the fit between the marketing mix of the company and requirement of the customers of the target market will be stronger. the process of positioning is continuous in natyre and it should always be proactive because new needs and competitors keep cropping up.
TARGET MARKETS- a company may not have the resources and the capabilities to design marketing mixes to serve all the segments. a company will decide to serve one or more segments depending upon its capabilities and resources. the segments that a company chooses to serve by designing special marketing mixes are called target markets.
POSITIONING- positioning is the process of creating a distinct offer and communicating it to the customer. positioning is created by designing a marketing mix which is suitable for the target but is different from marketing mixes of other providers. the smaller and more homogeneous the target market is for which a marketing mix is designed, the stronger will be the positioning, i.g. the fit between the marketing mix of the company and requirement of the customers of the target market will be stronger. the process of positioning is continuous in natyre and it should always be proactive because new needs and competitors keep cropping up.
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