Strategic Planning Lesson 2
We discussed about Marketing process and we have spent some time talking about segmentation.
Segmentation is about dividing the market into segments; people who belong to each segment have similar characteristics and tend to respond in similar ways to marketing activities.
Segmenting the market allows brands to better serve their customers as well as define new business opportunities.
It's a long and complicated process that starts with and in-depth knowledge of consumers' behaviours and results in a very clear set of guidelines for brands to position themselves.
Following segmentation brands can position on the basis of different dimensions, example:
- Benefit: the only that…the fastest,
- Price: the cheapest, value for money, reassuringly expensive
- Other categories (airlines vs. trains) or competitors
- Values and image
An interesting example is from GoPro in this TVCm clearly trying to position its cameras as the alternative to smartphones camera by providing consumers a powerful emotional benefit: capture differently.
Please make sure you download today slides in the attachment.