Ms. Park
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Market Analysis
Market Selection
Marketing Mix
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1) Market Segmentation
2)
3) Product PositioSegment Targetingning
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Dividing prospective buyers into groups that
have common needs and/or desires, and will
respond similarly to a marketing action.
Relatively ___________collection of prospective
buyers.
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Demographic: This is just a fancy word for
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Psychographic: These are segmentation
________.
characteristics that you cannot __________but are
nevertheless important.
- Product positioning is what comes to mind
when your target market thinks about your
product compared to your competitor’s
products.
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What comes to your mind when you hear
Ferrari?
What comes to your mind when you hear
Hyundai?
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A concise description of your target market
and how you want that market to perceive
your brand.
It is not marketing or promotional statement;
positioning statement is an internal tool.
Every product and marketing decision you
make regarding your brand has to align with
your positioning statement.
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Simple
Memorable
Clear
Credible
Tailored to the target market.
Shows how your brand/product differentiates
from your competitors.
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For [Target Market], the [Brand] is the [Point
of Differentiation] among all [Frame of
Reference] because [Reason to Believe].
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The point of differentiation (POD) describes
how your brand or product benefits
customers in ways that set you apart from
your competitors.
The frame of reference (FOR) is the segment
or category in which your competes.
The reason to believe is a statement
providing compelling evidence and reasons
why customers in your target market can
have confidence in your differentiation
claims.
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For World Wide Web users who enjoy books,
Amazon.com is a retail bookseller that
provides instant access to over 1.1 million
books. Unlike traditional book retailers,
Amazon.com provides a combination of
extraordinary convenience, low prices, and
comprehensive selection.
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For today’s appearance-conscious business,
the Underfoot Industries EverAwesome line is
the carpet that stays new-looking longest
among all commercial-grade carpets. Our
patented technology produces durable, lowwear carpet whose lifetime cost is 40-80%
lower than other brands. The brand name
“EverAwesome” tells customers: “This carpet
looks great, AND it will last a long time.”
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Get into groups of three or four.
Come up with a positioning statement for Red
Corntos.
Come up with a slogan for Red Corntos. The
slogan must align with positioning statement.