Marketing Segmentation, Targeting and Positioning Essay

Words: 1401
Pages: 6

1. Describe in your own words, market segmentation, give an example of how a market may be segmented, and explain the reason for segmentation. 2. Explain the principles of targeting and give two examples of a targeted market. 3. Discuss what is meant by positioning using two example of a business positioned in differing market sectors

Marketing consists of a range of techniques designed to sell a product/service. It focuses on customers and their needs, firms generally undertake research aimed at finding out about their customer’s requirements. A well planned marketing campaign involves a range of methods including; market positioning, Market planning, identification of target markets and market segmentation. Consideration of
…show more content…
Once a target market there are a number of marketing methods that can be used these include: undifferentiated marketing or mass marketing, differentiated marketing, concentrated marketing, and micromarketing/ niche marketing.
Mass marketing generally involves no segmentation of the market and is a sort of one size fits all method. Differentiated marketing is aimed at one segment with different marketing techniques used to engage the different segments of the market; this is also called multi segment marketing. Each segment is targeted individually and uniquely, the company provides particular benefits to the different segments. This method often increase sales but is more costly than a single marketing campaign. Concentrated marketing is defined and detailed it focuses on specific segments of the consumer population. It is of use in small companies but does not generally increase overall profits. Niche marketing is even more specific it is done via the purchase of data bases relating to the segments a company has defined In order to understand market targets a little better it is useful to consider examples.
The Kraft company that make Oreo cookies has a range of markets and has made its cookies differently to suit its target markets, the segmentation is based principally on