The STP FOREX Process
Segmentation is the process of classifying clients into teams which talk about some common characteristic Focusing on involves the process of evaluating every segments charm and selecting one or more portions to enter Positioning is arranging for a product to occupy a g g g l py obvious, distinctive and desirable place relative to rivalling products inside the mind of the consumer
Measures in Segmentation, Focusing on, and Placing
6. Develop Marketing Blend for Each Goal Segment your five. Develop Placement for Each Goal Segment four. Select Target Segment(s) three or more. Develop Assortment Criteria 2 . Develop Profiles p of Resulting Sectors 1 . Determine Bases for Segmenting the marketplace
Market Positioning
Market Concentrating on
Market Segmentation
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Marketplace Segmentation
A great undifferentiated industry Different needs in a market
But one with many distinct purchase combos
Segments within a market
The industry Segmentation Procedure
Stage you: Your Market and How this Operates
Step 1 - Marketplace Mapping Framework and decision makers
Stage 2: Customers and Orders g
Step 2 - Who have Buys Customer profiling 3 - What is Bought Purchase options
Step 4 - Whom Buys What Customers and their purchases
Stage 3: Segmenting the Market
Step five - How come it is Bought Customer demands C g Step 6 -- Forming Segments Combining comparable customers Step seven - Portion Checklist Matter of fact
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Benefits of Segmentation
1 ) The process of breaking up a homogeneous market into heterogeneous portions forces the marketer to analyse and consider w th th needs of th market and th company's identification both the m f the k t d the ' ability to competently provide those needs – therefore making the corporation better knowledgeable about it is customers installment payments on your Competitor offerings and marketing positioning must be analysed in this context so the firm must consider what its competitive advantages and disadvantages happen to be, helping that to make clear its own placing strategy 3. Limited solutions are used to finest advantage, directed at those segments that offer the best potential
Market Segmentation
Degrees of Market Segmentation
Mass Advertising Same item to all consumers (no segmentation) Segment Advertising Different products to one or more segments (some segmentation) Online marketing Different products to subgroups within sections (more segmentation) Micromarketing Items to suit the tastes of people and spots (complete segmentation) Local Advertising Tailoring brands/ promotions to local client groups Specific Marketing Dressmaker products/ programs to specific customers
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Criteria pertaining to successful Segmentation
Measurable
Size, purchasing electrical power, profiles of segments could be measured.
Available
Segments could be effectively reached and offered. Segments will be large or profitable enough to serve. Segments must respond in a different way to different advertising mix elements and applications.
Substantial
Differential
Actionable
Successful programs can be designed to catch the attention of and serve the segments.
Segmenting Client Markets
Consumer Segmentation
Behavioural
Psychographic
Profile
Benefits sought Purchase event Purchase conduct Usage Perceptions and philosophy
Lifestyle Character
Demographic Socio-economic Geographic
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B2C Consumer-Base Segmentation
Demographic Geographic Use Rate Customer Status Benefit Sought Asociado Economic Personality/Lifestyle
Age, Sexual, Race, 3rd there’s r li i actually etc A S 3rd there’s r Religion to Country, State, Type of Real estate etc Heavy users. Light, medium First-Time users, Low Users, Standard Quality Benefits, Economy Rewards Income, Profession Extrovert, Introvert
B2B Industrial Base Segmentation
Demographic Geographic Usage Level User Status Benefit Wanted Purchasing Business
Industry type, company size etc We d big t t we t Nation, county, region etc Large users. Light, medium New users, Not Users, Regular Quality Rewards, Economy Benefits Centralized, decentralized
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Micro-segments...
