Segmentation, Targeting and Positioning – Achieving a Successful Marketing Mix.
Segmentation, targeting and positioning – achieving a successful Marketing Mix.
Creating and planning our own business we have to remember that the business is composed of variety of things which support one another. Our goal should be preparing a good marketing strategy which is a part of general strategy of our business. The marketing strategy contains segmentation, targeting and positioning what is a plan how our company will work in chosen market to gain our goals. Segmentation, targeting and positioning should become our tool which can help us in differentiating, attracting, maintaining and growing the customer group.
At the beginning the company should identify and declare which customer group their product or service should reach and name the product. The next step is targeting the market segment what means choosing a market segment suitable for the product. The final activity is positioning. It is creating an image for the product in the minds of customers.
After finalizing positioning for the company it is time for converting it into acts by creating a suitable Marketing Mix. The basic elements of a Marketing Mix are product, place, price and promotion (also known as four Ps). Each of these components consist particular decisions which should be made to complete the company offer to targeted market.
The connection between positioning and four Ps can be easily seen on a graph number 1 and the main elements of Marketing Mix are showed in table number 1.
Product
Price Promotion Place
Quality
List price Advertising Distributors
Features
Discounts Personal selling Retailers
Name
Allowances Sales promotion Locations
Packaging
Credit Public relations Inventory
Services
Specials Direct mail Transport
Guarantees Company literature
PPP:
Product,
Price,
Promotion,
Place
SWOT:
Strengths,
Weaknesses,
Opportunities,
Threats
The graph number 1 shows the connection between SWOT and Marketing Mix.
Creating and planning our own business we have to remember that the business is composed of variety of things which support one another. Our goal should be preparing a good marketing strategy which is a part of general strategy of our business. The marketing strategy contains segmentation, targeting and positioning what is a plan how our company will work in chosen market to gain our goals. Segmentation, targeting and positioning should become our tool which can help us in differentiating, attracting, maintaining and growing the customer group.
At the beginning the company should identify and declare which customer group their product or service should reach and name the product. The next step is targeting the market segment what means choosing a market segment suitable for the product. The final activity is positioning. It is creating an image for the product in the minds of customers.
After finalizing positioning for the company it is time for converting it into acts by creating a suitable Marketing Mix. The basic elements of a Marketing Mix are product, place, price and promotion (also known as four Ps). Each of these components consist particular decisions which should be made to complete the company offer to targeted market.
The connection between positioning and four Ps can be easily seen on a graph number 1 and the main elements of Marketing Mix are showed in table number 1.
Product
Price Promotion Place
Quality
List price Advertising Distributors
Features
Discounts Personal selling Retailers
Name
Allowances Sales promotion Locations
Packaging
Credit Public relations Inventory
Services
Specials Direct mail Transport
Guarantees Company literature
PPP:
Product,
Price,
Promotion,
Place
SWOT:
Strengths,
Weaknesses,
Opportunities,
Threats
The graph number 1 shows the connection between SWOT and Marketing Mix.