Segmentation - Management Science II Dr. S.Bharadwaj Indian...

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Unformatted text preview: Management Science II Dr. S.Bharadwaj Indian Institute of Technology Madras MODULE 1 Segmentation,Targeting and Positioning • Segmentation, Targeting and Positioning Definitions • Segmentation Variables • Evaluation of Segments • Summary What is segmentation, anyone? • What about targeting and positioning? • Segmentation is the process of grouping people or organizations within a market according to similar needs, characteristics, or behaviors Dividing the market into groups • an entire market rarely has the same tastes and preferences • it is difficult to handle all preferences too • Mercedes Benz, for example (only high-end) Targeting is the actual selection of the segment you want to serve the target market is the group of people or organizations whose needs a product is specifically designed to satisfy Positioning is the use of marketing to enable people to form a mental image of your product in their minds (relative to other products) 1 Management Science II Dr. S.Bharadwaj Indian Institute of Technology Madras STP Marketing is the name of the game • The days of “one size fits all” are over...
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Segmentation - Management Science II Dr. S.Bharadwaj Indian...

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