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Market Segmentation & Targeting Decisions Presentation

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Marketing

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American University in Cairo

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Module 9 Market Segmentation & Targeting Decisions By: Dr Shahinaz Abdellatif Objectives of the Session To understand: • The relationship between segmentation, targeting & positioning (STP) • The growing importance and benefits of segmentation • How to identify market segments • The requirements for effective segmentation Objectives of the Session To understand: • The process for targeting market segments based on the fit between market attractiveness and company strengths • Targeting strategies Segmentation - definition ‘Segmentation is the process by which a market is divided into distinct customer subsets of people with similar needs/characteristics that lead them to respond in similar ways to a particular product offering and strategic marketing programme.’ Targeting - definition • Target marketing requires evaluating the relative attractiveness of various segments (in terms of market potential, growth rate, competitive intensity, and other factors) and • The firm’s mission and capabilities to deliver what each segment wants, in order to choose which segments it will serve. Positioning - definition Product positioning entails designing product offerings and marketing programmes that collectively establish an enduring competitive advantage in the target market by creating a unique image, or position, in the customer’s mind. How Are Market Segments Best Defined? • Identify a homogeneous segment that differs from other segments. The proc ...
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