Segmentation, Target Market Selection and Positioning Practice in Automotive Industry 
SEGMENTATION, TARGET MARKET SELECTION AND POSITIONING (STP) PRACTICE in AUTOMOTIVE INDUSTRY | Marketing Management |
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CONTENTS GENERAL INFORMATION 2 OVERVIEW OF THE INDUSTRY 2 PROCESS OF SEGMENTATION 6 Demographic Features 7 Age Factor 7 Gender Factor 7 Income Factor 8 CHOICE OF TARGET MARKET 9 Five Patterns of Target Market Selection 9 Single-Segment Concentration 9 Selective Specialization 9 Product Specialization 9 Market Specialization 10 Full Market Coverage 10 POSITIONING 10 Perceptual Maps 11 Value Map 12 APPENDIX (TABLES) 13 SOURCES 18
SEGMENTATION, TARGET MARKET SELECTION AND POSITIONING PRACTICE IN AUTOMOTIVE INDUSTRY GENERAL INFORMATION
Companies cannot connect with all customers in large, broad, or diverse markets. But they can divide such markets into groups of consumers or segments with distinct needs and wants. A company then needs to identify which market segments it can serve effectively. This decision requires a keen understanding of consumer behaviour and careful strategic thinking. To develop the best marketing plans, managers need to understand what makes each segment unique and different [1]. Companies, instead of scattering their marketing efforts, are focusing on these consumers they have the greatest chance of satisfying. Contrast of mass marketing, nowadays, marketers 1) Identify and profile distinct groups of buyers who differ in their needs and preferences (market segmentation), 2) Select one or more market segments to enter (market targeting), 3) For each target segment, establish and communicate the distinctive benefit(s) of the company’s market offering (market positioning) [1]. OVERVIEW OF THE INDUSTRY
Motor vehicles are the products that includes a motor and are used to carry goods or passengers; they are manufactured according to some specific regulations and includes four or more wheels. The industry that manufactures these products is called “automotive main
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CONTENTS GENERAL INFORMATION 2 OVERVIEW OF THE INDUSTRY 2 PROCESS OF SEGMENTATION 6 Demographic Features 7 Age Factor 7 Gender Factor 7 Income Factor 8 CHOICE OF TARGET MARKET 9 Five Patterns of Target Market Selection 9 Single-Segment Concentration 9 Selective Specialization 9 Product Specialization 9 Market Specialization 10 Full Market Coverage 10 POSITIONING 10 Perceptual Maps 11 Value Map 12 APPENDIX (TABLES) 13 SOURCES 18
SEGMENTATION, TARGET MARKET SELECTION AND POSITIONING PRACTICE IN AUTOMOTIVE INDUSTRY GENERAL INFORMATION
Companies cannot connect with all customers in large, broad, or diverse markets. But they can divide such markets into groups of consumers or segments with distinct needs and wants. A company then needs to identify which market segments it can serve effectively. This decision requires a keen understanding of consumer behaviour and careful strategic thinking. To develop the best marketing plans, managers need to understand what makes each segment unique and different [1]. Companies, instead of scattering their marketing efforts, are focusing on these consumers they have the greatest chance of satisfying. Contrast of mass marketing, nowadays, marketers 1) Identify and profile distinct groups of buyers who differ in their needs and preferences (market segmentation), 2) Select one or more market segments to enter (market targeting), 3) For each target segment, establish and communicate the distinctive benefit(s) of the company’s market offering (market positioning) [1]. OVERVIEW OF THE INDUSTRY
Motor vehicles are the products that includes a motor and are used to carry goods or passengers; they are manufactured according to some specific regulations and includes four or more wheels. The industry that manufactures these products is called “automotive main