Page 132 - DMGT509_RURAL MARKETING

Unit 7: Segmenting, Targeting and Positioning

Positioning Notes

Positioning is developing a product and brand image in the minds of consumers. It can also
include improving a customer’s perception about the experience they will have if they choose to
purchase your product or service. The business can positively influence the perceptions of its
chosen customer base through strategic promotional activities and by carefully defining your
business’ marketing mix.
Effective positioning involves a good understanding of competing products and the benefits
that are sought by your target market. It also requires you to identify a differential advantage
with which it will deliver the required benefits to the market effectively against the competition.
Business should aim to define themselves in the eyes of their customers in regards to their
competition.

Did u know? The MICA Rural Market Ratings (MRMR) has been developed by the Mudra
Institute of Communications, Ahmedabad (MICA) in association with ML Infomap Pvt.
Ltd., New Delhi. MICA is the premier institute for training communications professionals
and ML Infomap is a specialist IT consulting company.

Self Assessment

Fill in the blanks:

1. .......................... involves grouping your various customers into segments that have common
needs or will respond similarly to a marketing action.
2. .......................... should aim to define themselves in the eyes of their customers.

3. ........................................ is developing a product and brand image in the minds of
consumers.
4. Effective positioning involves a .......................... understanding of competing products.

5. .................................... targeting offers many benefits but can be costly as it involves
greater input from management, increased market research and increased promotional
strategies.

7.2 Conditions for Effective Market Segmentation

Effective market segmentation takes effort. It is not something that comes easily for any business.
It requires a great deal of skilled research and effective implementation of segmentation strategies.
Mindful monitoring of marketing strategy performance and adjustment to the segmentation
system is also necessary to maintain the effectiveness of the strategies that have been employed.

This is the reason that marketing is a highly valued profession and on in which most businesses
hire a skilled professional to manage and implement any strategies that will be employed.
For small business owners and operators, the process of implementing marketing strategies is
often a task that falls squarely on their shoulders. There simply aren’t the resources to hire a big
marketing team to handle these functions. As such, you may be looking for ways to increase your
own market performance and may see market segmentation as a means for achieving your
goals.

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