Podcast
Questions and Answers
What is the primary focus of ichef.in in the food delivery market?
What is the primary focus of ichef.in in the food delivery market?
What is an example of micromarketing in food delivery?
What is an example of micromarketing in food delivery?
Which of the following factors is NOT mentioned as influencing the choice of targeting strategy?
Which of the following factors is NOT mentioned as influencing the choice of targeting strategy?
What does the term 'sub-segmentation' refer to in the context of food delivery services?
What does the term 'sub-segmentation' refer to in the context of food delivery services?
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Which food delivery service is known for handling bulk orders?
Which food delivery service is known for handling bulk orders?
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According to the content, what is one of the forces that affects targeting strategy?
According to the content, what is one of the forces that affects targeting strategy?
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Which of the following services specifically targets corporate clients?
Which of the following services specifically targets corporate clients?
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What model is suggested for determining the attractiveness of a market segment?
What model is suggested for determining the attractiveness of a market segment?
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What does positioning primarily focus on in the context of marketing?
What does positioning primarily focus on in the context of marketing?
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What is meant by a Unique Selling Proposition (USP) in positioning?
What is meant by a Unique Selling Proposition (USP) in positioning?
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Who articulated the concept of positioning as it is understood today?
Who articulated the concept of positioning as it is understood today?
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In which period was the concept of positioning described by Ries and Trout?
In which period was the concept of positioning described by Ries and Trout?
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What is a key outcome of effectively implementing a positioning strategy?
What is a key outcome of effectively implementing a positioning strategy?
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Why is it important to tailor propositions to the characteristics of targeted segments?
Why is it important to tailor propositions to the characteristics of targeted segments?
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What has fundamentally changed in the concept of positioning over the past 40 years?
What has fundamentally changed in the concept of positioning over the past 40 years?
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What role does marketing communication play in positioning?
What role does marketing communication play in positioning?
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What is one of the main advantages of using geographic segmentation for a market?
What is one of the main advantages of using geographic segmentation for a market?
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Which of the following is NOT a relevant factor under geographic segmentation in the text?
Which of the following is NOT a relevant factor under geographic segmentation in the text?
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How does the example of McDonald's in India illustrate the importance of considering cultural factors in market segmentation?
How does the example of McDonald's in India illustrate the importance of considering cultural factors in market segmentation?
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Which of the following factors can influence a consumer's response to a product's packaging and advertising?
Which of the following factors can influence a consumer's response to a product's packaging and advertising?
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Which segmentation approach is considered the most recent and aims to understand consumers' individual characteristics?
Which segmentation approach is considered the most recent and aims to understand consumers' individual characteristics?
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Which of the following examples best illustrates the application of socioeconomic segmentation?
Which of the following examples best illustrates the application of socioeconomic segmentation?
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Why is it essential for marketers to consider cultural and religious beliefs when segmenting a market?
Why is it essential for marketers to consider cultural and religious beliefs when segmenting a market?
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Which type of segmentation is based on dividing the market into groups based on their physical location?
Which type of segmentation is based on dividing the market into groups based on their physical location?
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Which of the following is NOT considered a consumer group based on their response to market offerings?
Which of the following is NOT considered a consumer group based on their response to market offerings?
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What is one of the key differences between the 'Ford' and 'Chevrolet' consumer profiles as described in the text?
What is one of the key differences between the 'Ford' and 'Chevrolet' consumer profiles as described in the text?
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Which of the following is NOT a benefit that consumers might seek in an automobile product, as mentioned in the text?
Which of the following is NOT a benefit that consumers might seek in an automobile product, as mentioned in the text?
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The 'Usage Response' approach to consumer segmentation primarily categorizes consumers based on:
The 'Usage Response' approach to consumer segmentation primarily categorizes consumers based on:
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What is a significant advantage of segmenting consumers based on the 'Benefit Response' approach?
What is a significant advantage of segmenting consumers based on the 'Benefit Response' approach?
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Within the context of 'Usage Response', what are 'non-potential users'?
Within the context of 'Usage Response', what are 'non-potential users'?
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The text describes 'Swingers' as consumers who:
The text describes 'Swingers' as consumers who:
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Which of the following is NOT a characteristic of 'Status Seekers' as described in the text?
Which of the following is NOT a characteristic of 'Status Seekers' as described in the text?
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Which of the following statements regarding market segmentation is correct?
Which of the following statements regarding market segmentation is correct?
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Which pair of products would likely belong to different market segments?
Which pair of products would likely belong to different market segments?
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In which situation might a company consider consolidating multiple market segments into one larger segment?
In which situation might a company consider consolidating multiple market segments into one larger segment?
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Why is product or service positioning a crucial aspect of marketing?
Why is product or service positioning a crucial aspect of marketing?
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Which of the following statements is correct, based on the provided content?
Which of the following statements is correct, based on the provided content?
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Which of the following brands positions itself based on the concept of 'completeness'?
Which of the following brands positions itself based on the concept of 'completeness'?
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Which company focused on selling computers directly to businesses as a positioning strategy based on distribution?
Which company focused on selling computers directly to businesses as a positioning strategy based on distribution?
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What marketing strategy does Honda Motorcycle & Scooter India (HMSI) employ by focusing on the aspirations of everyday Indians?
What marketing strategy does Honda Motorcycle & Scooter India (HMSI) employ by focusing on the aspirations of everyday Indians?
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Which airline has differentiated itself by offering premium economy seating and a value-based frequent flyer program?
Which airline has differentiated itself by offering premium economy seating and a value-based frequent flyer program?
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Which of the following brands uses 'Waku Waku Doki Doki' to represent the anticipation and thrill associated with their vehicles?
Which of the following brands uses 'Waku Waku Doki Doki' to represent the anticipation and thrill associated with their vehicles?
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Which of the following strategies did Compaq utilize to position its brand in the PC market?
Which of the following strategies did Compaq utilize to position its brand in the PC market?
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Which brand uses the positioning method based on health by assuring their consumers can leave their health concerns to them?
Which brand uses the positioning method based on health by assuring their consumers can leave their health concerns to them?
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Which brand positions itself around the phrase 'There's Only One'?
Which brand positions itself around the phrase 'There's Only One'?
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Flashcards
Market Segmentation
Market Segmentation
The process of dividing a broad target market into subsets of consumers with common needs or characteristics.
Targeting Strategy
Targeting Strategy
The method of selecting specific segments to concentrate marketing efforts on.
Product Differentiation
Product Differentiation
The creation of a product that stands out from competitors due to unique features or branding.
Consumer Behavior
Consumer Behavior
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Interrelated Strategies
Interrelated Strategies
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Demographic Segmentation
Demographic Segmentation
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Family Size Segmentation
Family Size Segmentation
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Business/Profession Segmentation
Business/Profession Segmentation
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Geographic Segmentation
Geographic Segmentation
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Psychographic Segmentation
Psychographic Segmentation
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Behavioral Segmentation
Behavioral Segmentation
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Cultural Segmentation
Cultural Segmentation
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Consumer Segmentation
Consumer Segmentation
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Swingers
Swingers
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Status Seekers
Status Seekers
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Plain Joes
Plain Joes
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Benefit Response
Benefit Response
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Usage Response
Usage Response
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Potential Users
Potential Users
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Non-Potential Users
Non-Potential Users
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iTiffin.in
iTiffin.in
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Micromarketing
Micromarketing
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Sub-segmentation
Sub-segmentation
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Porter’s Five-Forces Model
Porter’s Five-Forces Model
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Market Share
Market Share
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Segment Attractiveness
Segment Attractiveness
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Marketing Environment Forces
Marketing Environment Forces
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Product User
Product User
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Product Class
Product Class
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Positioning
Positioning
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Unique Selling Proposition (USP)
Unique Selling Proposition (USP)
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Target Market Strategy
Target Market Strategy
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Marketing Mix
Marketing Mix
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Consumer Needs
Consumer Needs
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Segmentation
Segmentation
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Perception
Perception
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Marketing Communications
Marketing Communications
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Dreams
Dreams
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Completeness
Completeness
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First-mover
First-mover
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Distribution
Distribution
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Exclusivity
Exclusivity
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Waku Waku Doki Doki
Waku Waku Doki Doki
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Health Positioning
Health Positioning
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Personalisation
Personalisation
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Study Notes
Segmentation, Targeting & Positioning
- Marketing segmentation involves dividing a heterogeneous market into homogeneous sub-units, based on shared needs and characteristics.
- Segmentation is about identifying portions of the market with different needs.
- The process involves three stages—segmenting, targeting, and positioning (STP).
- This facilitates effective marketing strategies by understanding diverse consumer needs.
- Market segmentation is a crucial aspect of contemporary marketing strategy.
- It allows businesses to cater to specific consumer groups and tailor their products and marketing efforts accordingly.
Meaning & Importance of Segmentation
- Meaning: Segmentation is the process of dividing a heterogeneous market (aggregated) into homogeneous sub-units (segregated) based on shared needs, characteristics, or behaviors.
- Importance: Segmentation creates meaningful segments, understands customer needs for meaningful segments, and helps allocate resources efficiently.
Learning Objectives
- Understand the meaning and importance of segmentation.
- Identify bases of segmentation.
- Define types of segmentation.
- Understand the meaning of targeting.
- Identify types of targeting.
- Define selection criteria for targeting.
Learning Outcomes
- Define the meaning of positioning.
- Describe the meaning of positioning.
- Elucidate the meaning of word positioning.
Requirements of Effective Market Segments
- Measurable: Segments must be quantifiable in terms of size and characteristics.
- Substantial: Segments should be large enough to be profitable.
- Distinctive: Segments must be clearly different from one another regarding their needs.
- Accessible: Segments should be reachable with marketing efforts.
Bases for Market Segmentation
- Demographic: Age, gender, family size, income, occupation, education, religion, etc.
- Geographic: Location, region, climate, population density, etc.
- Psychographic: Lifestyle, values, personality traits, interests, etc.
- Behavioural: Usage rate, brand loyalty, benefits sought, occasions, etc.
Types of Targeting
- Mass Marketing: Aim to reach all potential customers with a standardized marketing mix.
- Single-segment Marketing: Focusing on a single market segment.
- Large Segment Strategy: Focusing on a relatively large segment. Sub-segmentation can be considered for better results.
- Differentiated Marketing: Targeting two or more segments with tailored marketing mixes.
- Niche Segment Strategy: Targeting a narrowly defined market segment with distinct needs.
Positioning
- Positioning involves creating a distinctive place for a product or brand in the minds of consumers relative to competitors.
- Positioning is about communicating the value proposition of a product or brand.
Positioning Process
- Describing positioning process; identification of bases for positioning; describing, or elaborating on bases of positioning
Meaning of Targeting
- Targeting is the process of evaluating segments and selecting the most attractive segments.
- It's matching marketing resources, needs, and capabilities.
- It focuses on the best prospects among customers.
Selection Criteria for Targeting
- Existing market share.
- Existing product expertise.
- Likelihood of production and marketing economies of scale.
- Nature of competitive environment.
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Description
Test your knowledge on various marketing strategies in the food delivery market. This quiz covers concepts like micromarketing, targeting strategies, and the unique selling proposition. Ideal for anyone interested in marketing and food service dynamics.