TARGET MARKETING

Get Started. It's Free
or sign up with your email address
TARGET MARKETING by Mind Map: TARGET MARKETING

1. Step1: Segmentation

1.1. Geographic

1.1.1. Shopee focus on Asian customers

1.2. Demographic

1.2.1. Age

1.2.2. Gender

1.2.3. Life cycle

1.2.4. Education

1.3. Psychographic

1.3.1. Social class

1.3.1.1. Gucci focus on wealthy group of consumer

1.3.2. Life style

1.3.3. Personality

1.4. Behavioral

1.4.1. Occasion

1.4.1.1. Christmas trees are sold during Christmas

1.4.2. Benefit

1.4.3. User status

1.4.4. User rate

1.4.5. Loyalty

1.4.5.1. Walmart has loyal customers because they deliver products with cheap price

2. Step2: Targeting

2.1. Evaluate market segment

2.1.1. Size and Growth

2.1.2. Structural Attractiveness

2.1.2.1. Competition

2.1.2.2. Substitute products

2.1.2.3. Power of buyer

2.1.2.4. Power of supplier

2.1.3. Company objective and resources

2.1.3.1. Advantage

2.1.3.2. Available resource

2.1.3.3. Consistency with company objectives

2.2. Select market segment

2.2.1. Undifferentiated (mass marketing)

2.2.2. Differentiated (segmented marketing)

2.2.2.1. Hotels having many room offers

2.2.3. Concentrated (niche marketing)

2.2.3.1. Curnon Watch focus on the millennials

2.2.4. Micro marketing (individual marketing)

2.2.4.1. Valentino makes tailored suits for their customers

3. Step3&4: Differentiating and Positioning

3.1. Choose positioning strategy

3.1.1. Identify competitive advantages

3.1.2. Choose right competitive advantage

3.1.3. Select a positioning strategy

3.2. Differentiation based on

3.2.1. Product

3.2.2. Distribution

3.2.3. Services

3.2.4. People

3.2.5. Image

3.3. Difference to promote

3.3.1. Important

3.3.2. Distinctive

3.3.3. Superior

3.3.4. Communicable

3.3.5. Preemptive

3.3.6. Affordable

3.3.7. Profitable