Topic of the Session:
What is Segmentation? Why we need Segmentation? (Read TOI Page 22-A Beautiful Article on Segmentation)
-Similar needs & wants
-Categorizing market according to preferences& ability:-
a) Habits
b) Usage
c)Attitude
-Homogenity of Operating Principles.
-On what parameters the customers are same, alongwith motivation/potential to buy your product.
About STDP:
S-Segmentation
T-Targeting
D-Differentiating
P-Positioning
Marketing Strategies in brief:-
1)Attacking Strategy: U attack me and I attack U. eg: Maggi Vs Top Ramen.
2) Defensive Strategy: Preserving and maintaining the market share/consumers.eg: Nokia with 60% market share, attempted for retaining customers by introducing Dual Sim Cellphones.
3) Flank Attack Strategy: Finding faults/loopholes in the defense of other players in market.eg: IIM-A Vs ISB, Naukri Vs Monster.
4) Guerilla Strategy: Finding unhidden territories of the big player in market.Most dangerous warfare,concentrating on underutilized territories of big marketers.
Changing nature of Market Segments:
Segment does not remain constant,it moves.eg: Bajaj Scooter, Maggi Noodles.
We need to know segment to adapt to it changing needs.When Segment moves-numbers move and it involves rigorous analytical study.
Marketing Engineering: Study of the Markets and Models.
For Next Session:- Niche Marketing and Field Briefing.
