Skip to main content

Targeting.

Targeting.
Part of STP - Segment-Target-Postion.
Targeting is the second stage of the SEGMENT "Target" POSITION (STP) process. After the market has been separated into its segments, the marketer will select a segment or series of segments and 'target' it/them. Resources and effort will be targeted at the
The first is the single segment with a single product. In other word, the marketer targets a single product offering at a single segment in a market with many segments. For example, British Airway's Concorde is a high value product aimed specifically at business people and tourists willing to pay more for speed.
Secondly the marketer could ignore the differences in the segments, and choose to aim a single product at all segments i.e. the whole market. This is typical in 'mass marketing' or where differentiation is less important than cost. An example of this is the approach taken by budget airlines such as Go/
Finally there is a multi-segment approach. Here a marketer will target a variety of different segments with a series of differentiated products. This is typical in the motor industry. Here there are a variety of products such as diesel, four-wheel-drive, sports saloons, and so on.
Labels:

Comments

Post a Comment

Popular posts from this blog

Public Relations(PR) - Page Two

Public Relations(PR) - Page Two. Public relations as part of the marketing communications mix. Organising events. Corporate events are used to woo publics in both a formal and an informal manner. A formal corporate event could include a manufacturer inviting employees from all of its many distributors to visit its manufacturing plant for a training day. This has a direct business payoff. A more informal event could include a day at the races or a short-break abroad, where clients are wined and dined at the cost of a company, in order to generate goodwill. This has an indirect business payoff. Facility visits. Visits to a factory, such as a chocolate factory, or a facility, such as a nuclear power plant also generate a positive perception of an organisation. In the case of a factory visit, loyal customers or other interested parties can experience for themselves what is behind a well-known product. In the case of a nuclear power plant, concerned or misinformed publics have the chance to...
Post a Comment
Read More »

Strategic Condition Matrix1

Strategic Condition Matrix A-This SBU is one of the biggest and oldest brands of lens photographical lenses in the World. It used to be the biggest supplier of lenses to both professional and amateur photographers, before the growth and current dominance of digital cameras. It needs to invest in a change programme that will downsize its business and give it a new and rejuvenated strategic direction. Ans: Weak/Aging - Manage for change if the brand can be rejuvenated, or with draw. B - This SBU manufactures high technology lasers that are used in the manufacture of specialist components for the production of aircraft. It has a number of unique patents as well as a 10 year contract with the World's largest aircraft manufacturer. Ans: Dominant/Growth - Act offensively and grow business. Be prepared to defend your position from competitors with rival solutions. C - This SBU is photocopier manufacturer that is currently under increasing attack from budget priced competitors that offer a...
Post a Comment
Read More »

matrix planing

This well known marketing tool was first published in the Harvard Business Review (1957) in an article called 'Strategies for Diversification'. It is used by marketers who have objectives for growth. Ansoff's matrix offers strategic choices to achieve the objectives. There are four main categories for selection. Ansoff's Product/Market Matrix Market Penetration Here we market our existing products to our existing customers. This means increasing our revenue by, for example, promoting the product, repositioning the brand, and so on. However, the product is not altered and we do not seek any new customers. Market Development Here we market our existing product range in a new market. This means that the product remains the same, but it is marketed to a new audience. Exporting the product, or marketing it in a new region, are examples of market development. Product Development This is a new product to be marketed to our existing customers. Here we develop and innovat...
Post a Comment
Read More »