Strategic Marketing Management
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Chapter 11 : Targeting And Positioning Strategies
Market Targeting Strategy
Targeting Strategies
Factors Affecting Targeting Decisions
Ethics in Targeting
Deciding on Segments to Enter
Emerging Markets
Growth Markets
Mature and Declining Markets
Global Markets
Positioning
Positioning Concept
Types of Positioning Strategies
Choosing the Positioning Strategy
Positioning Process
Selecting a Positioning Strategy
Determining Positioning Effectiveness
Problems in Positioning
Chapter Summary
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For developing an effective targeting strategy, a company should first
identify the reason behind customers purchasing its products. Customers can
purchase the products to fulfill basic needs, to resolve their problems, or
for the feel-good factor associated with the products. There are three types
of strategies to target the markets, namely the undifferentiated strategy,
the concentrated strategy, and the differentiated strategy.
While targeting a segment, the marketer must ensure that ethical decisions
are taken and customer vulnerability is not taken as an advantage. The four
types of markets include the emerging, growth, mature, and declining
markets. A company should use different targeting strategies depending on
the market in which it operates.
‘Positioning'is a term introduced by Jack Trout and Al Ries in 1969. It
means creating an image in the perception of the buyer in the target market
about the product or service of a company with an advantage over the
competition. |
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Positioning is a combination of both market and psychological positioning. A
company can position its product based on various factors. Some of them are
positioning by attribute, price, quality, use or applications, product-user,
product-class, and the competitor. There are three types of positioning
strategies namely – the revamped positioning strategy, the break free
positioning strategy, and the concealed positioning strategy.
The positioning process has six steps which are identifying the competitors,
determining how the competitors are perceived and evaluated, determining the
competitor's position, analyzing the customers, positioning, and monitoring
the position.
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Short Case Studies / Caselets