AMA version for market segmentation is:
The following is anyway a crisp practical understanding of what STP is all about!
Segmentation: It deals with identifying bases for segmenting the market. It is essential in order to develop Segment profiles.
Segmentation is basically done on the following considerations:
Ambi Pur Car freshener's segment include the urban, semi urban and seni rural areas, people with middle class + purchasing power and the ones with a basic requisite of a car!
Target Marketing: it involves developing a measure of segment attractiveness and selecting the target segments.
Out of the segmented sample, specializing them and catering to their needs is Targeting that Ambi Pur undertakes. Thus, youth, working men and women who use cars daily are their TG.
Market Positioning: This consists of developing the positioning for the targeted segments and to come up with a marketing mix for each segment.
Ambi pur positions its Car Freshener competitively along with other competitors like Godrej Aer and Renuzit diffusers.
It is priced at Rs. 250
Initially as it entered the market it started from Rs. 180 until a few years ago.
It is also noteworthy that Ambi Pur has been trying to remain the market leader in this segment by positioning itself at a strategic price such that it provides the benefits by catering to the needs and lifestyle of the consumers.
The above gives a diagrammatic representation of how STP the Differentiaion block adds on to the value and acts as a key differentiator to the product. Thus the Positioning somewhere not just deal with the pricing but also with the Distribution and Promotion from the other Ps.
"The process of subdividing a market into distinct subsets of customers that behave in the same way or have similar needs. Each subset may conceivably be chosen as a market target to be reached with a distinct marketing strategy."
The following is anyway a crisp practical understanding of what STP is all about!
Segmentation: It deals with identifying bases for segmenting the market. It is essential in order to develop Segment profiles.
Segmentation is basically done on the following considerations:
- Demographic (Age, income, family size, gender, literacy etc)
- Geographic (state, city, district, taluka, gram etc)
- Psychographic (Persona, lifestyle, appearance, aesthetics etc)
- Behavioral (Usage, dependency, attitude, seasonal, occasion, etc)
Ambi Pur Car freshener's segment include the urban, semi urban and seni rural areas, people with middle class + purchasing power and the ones with a basic requisite of a car!
Target Marketing: it involves developing a measure of segment attractiveness and selecting the target segments.
Out of the segmented sample, specializing them and catering to their needs is Targeting that Ambi Pur undertakes. Thus, youth, working men and women who use cars daily are their TG.
Market Positioning: This consists of developing the positioning for the targeted segments and to come up with a marketing mix for each segment.
Ambi pur positions its Car Freshener competitively along with other competitors like Godrej Aer and Renuzit diffusers.
It is priced at Rs. 250
Initially as it entered the market it started from Rs. 180 until a few years ago.
It is also noteworthy that Ambi Pur has been trying to remain the market leader in this segment by positioning itself at a strategic price such that it provides the benefits by catering to the needs and lifestyle of the consumers.
The above gives a diagrammatic representation of how STP the Differentiaion block adds on to the value and acts as a key differentiator to the product. Thus the Positioning somewhere not just deal with the pricing but also with the Distribution and Promotion from the other Ps.
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