Market Segmentation and Positioning

Good Essays
Topics: Marketing
NPTEL
Vinod Gupta School of Management

Consumer Behavior

Module - 3 CONSUMER BEHAVIOR

Sangeeta Sahney Assistant Professor, Vinod Gupta School of Management Indian Institute of Technology Kharagpur, India Email. sahney@vgsom.iitkgp.emit.in

Jiont Initiative of IITs and IISc- Funded by MHRD

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NPTEL
Vinod Gupta School of Management

Consumer Behavior

MODULE 3 MARKET SEGMENTATION AND POSITIONING

MODULE 3: MARKET SEGMENTATION AND POSITIONING ( 2 hours) 3.1 3.2 3.3 3.4 3.5 3.6 3.7 Aggregate Marketing and Market Segmentation Target Marketing Market Segmentation Alternatives available for Segmentation Basis for Segmentation Targeting Positioning

Introduction:
The traditional way of doing business was Mass Marketing which meant offering a standardized product to all the consumers or the entire market. However, it was increasingly realized that customers are varied and unique, with different needs, wants and preferences. Marketers

understood that they cannot satisfy the entire range of customers with the same product and service offering. This led to Target marketing or STP i.e., Segmentation, Targeting and Positioning. STP involves dividing the potential market into distinct sets and sub-sets of consumers and then focusing on one or more segments that can be reached with a markerting mix. The marketer first identifies like-minded clusters of groups that are homogenous within and heterogeneous with other groups (segmentation); then, he selects the most viable segment(s) (targeting); finally, a distinctive image of the product/service offering is created in the mind of the consumer that helps the latter relate to the former (positioning).

Jiont Initiative of IITs and IISc- Funded by MHRD

-2-

NPTEL
Vinod Gupta School of Management

Consumer Behavior

LESSON – 5 MARKET SEGMENTATION AND POSITIONING 1

Instructional Objectives
After completion of this lesson, the student shall know about: 3.1 3.2 3.3 3.4 3.5 Aggregate Marketing and Market Segmentation Target

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