MARKETING MANAGEMENT (22MBA15)

MODULE 5
MARKET SEGMENTATION, TARGETING AND BRAND POSITIONING

Market segmentation, Targeting and Brand Positioning: Concept of Market Segmentation, Benefits,
Requisites of Effective Segmentation, Bases for Segmenting Consumer Markets, Market Segmentation
Strategies. Types of Segmentation. Targeting - Bases for identifying target Customer Target Marketing
strategies, Positioning - Meaning, Tasks involved in Positioning. Monitoring brands performance and
positioning. Product Differentiation Strategies.

Market segmentation is a marketing term that refers to aggregating prospective buyers into
groups or segments with common needs and who respond similarly to a marketing action. Market
segmentation enables companies to target different categories of consumers who perceive the full
value of certain products and services differently from one another.
Market segmentation is the process of dividing a large market into smaller groups of consumers
with similar needs and characteristics. This allows companies to tailor their marketing efforts to
specific groups and create targeted marketing campaigns.

• Market segmentation seeks to identify targeted groups of consumers to tailor products and
branding in a way that is attractive to the group.
• Markets can be segmented in several ways such as geographically, demographically, or
behaviorally.
• Market segmentation helps companies minimize risk by figuring out which products are the
most likely to earn a share of a target market and the best ways to market and deliver those
products to the market.
• With risk minimized and clarity about the marketing and delivery of a product heightened, a
company can then focus its resources on efforts likely to be the most profitable.
• Market segmentation can also increase a company's demographic reach and may help the
company discover products or services they hadn't previously considered.
Understanding Market Segmentation
Companies can generally use three criteria to identify different market segments:
 Homogeneity, or common needs within a segment
 Distinction, or being unique from other groups
 Reaction, or a similar response to the market
For example, an athletic footwear company might have market segments for basketball
players and long-distance runners. As distinct groups, basketball players and long-distance
runners respond to very different advertisements. Understanding these different market
segments enables the athletic footwear company to market its branding appropriately.

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

BENEFITS OF MARKET SEGMENTATION

Marketing segmentation takes effort and resources to implement. However, successful marketing
segmentation campaigns can increase the long-term profitability and health of a company.
Several benefits of market segmentation include;

1. Higher Rate of Success

Market segmentation means to study your market, to be more precise it helps to divide a bigger
market into smaller modules and lets the marketers know the potential of the market/consumers
which reduces the risk of loss and thus there are higher chances of success for the business.
2. Increases Profitability
Market segmentation is a very effective process for business and it helps the business to target
particular segments of the market and thus helps to find better business opportunities pertaining
to that particular market segment. The marketers can thus, strategize their campaigns as per the
chosen market segment needs and requirements and helps to increase the business profitability.
This technique lets the companies focus on one particular segment rather than the whole market
which in return gives increased profit.
3. Increases Competitiveness
When the focus and the target market is clearly identified to the marketers and the business team,
then comes the competitiveness. As the target market is known to the business, the competition in
the market will increase and the marketing team will come up with new innovative ideas to
promote their brand better to stand out among the competitors. Different offers and discounts will

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

help the marketing team to attract more consumers and knowing your consumers better will help
gain brand loyalty.
4. Retention of Customer
Retaining customers is very crucial for the business and market segmentation helps in customer
retention. Once the business knows the consumers, their needs can be catered well and the
customer’s experience with the market brand will help to connect with the product/service like
the hospitality sectors. Consumers mostly prefer the products/services they have experienced
especially in the cases of airlines and hospitals.
5. Creates and Provides Market Opportunities
Market segmentation helps to identify and recognize potential market opportunities. The market
segments where the consumers are less satisfied with the other brands are the opportunity areas
for the company to focus and to establish their brand. The companies can work in these segments
and provide a better product to the consumers than the already existing ones in the market and
earn the consumer’s loyalty. Thus, market segmentation gives excellent market opportunities.
6. Effective Market Campaigning
As the business knows the consumers and their needs, the marketing team can customize or
personalize their marketing campaign accordingly and organize their strategies as per the need of
the market which is directly proportional to the success of the business.
7. Wise and Efficient Use of Resources
Market segmentation helps to save unnecessary time and effort engaged in the marketing
campaign by identifying the potential areas of the market. Thus it helps to use the company
resources and money in a more streamlined and efficient manner.
8. Higher Customer Satisfaction
Market segmentation directs or guides the company to make its market-ing efforts consumer and
market-oriented in a specific market segment, and lets the companies serve the consumers better,
increasing customer satisfaction which is the ultimate goal of the business.
9. Cost-Efficient
Efficient market research and market segmentation help to save a lot of useful time, money, and
resources invested in the marketing campaign. Also as the customers are grouped as per their
needs, commonalities, choices, statuses, etc. it becomes easy to target the audience for the
marketers. Thus through market segmentation, the campaign management process is conducted
very smoothly and efficiently in a cost-effective manner.
10. Know your Customer Better
Market segmentation helps to study the market needs and potential consumer which reduces the
risk of loss or unsuccessful marketing campaigns. As the market research is done in advance
before the campaign the chances of being successful are much more as the segmentation of the

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

market helps the marketers to do their homework for marketing. The marketers can strategize and
plan their campaigns as per the generic needs of the potential consumers as per the market
research.
It is very important to understand what the consumer and the market demands and what are their
actual needs. Effective marketing can be implemented only if the potential and promising market
has been identified else all the efforts of marketing goes in vain. Companies must always put
themselves in the place of consumers first and must analyze what they would have expected out
of the product/services if they would have been in their shoes.

REQUISITES OF EFFECTIVE SEGMENTATION

Effective segmentation is crucial for any business to develop and implement targeted marketing
strategies that can increase customer satisfaction, brand loyalty, and sales revenue. Here are some
of the requisites of effective segmentation:

1. Identifiable: Segments should be easily identifiable and measurable. The characteristics of

each segment should be distinct and clear, so that businesses can target them specifically.
2. Relevant: Segments should be relevant to the company's marketing objectives, and align
with the company's overall strategy. The segments should also be large enough to be
profitable and viable.
3. Differentiable: The segments should be differentiable from one another based on factors
such as customer needs, preferences, behaviors, and demographics. This differentiation
should enable the company to develop targeted marketing strategies for each segment.
4. Accessible: The segments should be accessible through channels that are feasible and
costeffective for the company. Companies should be able to reach the targeted segments
through various communication channels such as online and offline media.
5. Actionable: Segments should be actionable, meaning that the company should be able to
develop and implement specific marketing strategies to meet the needs of each segment.
6. Stable: Segments should be stable over time, and not change frequently. This stability helps
to ensure that the marketing strategies developed for each segment remain relevant and
effective.
By considering these requisites, businesses can effectively segment their market and develop
targeted marketing strategies that resonate with their customers, drive customer loyalty, and
increase revenue.
BASES FOR SEGMENTING CONSUMER MARKETS/ MARKET SEGMENTATION
STRATEGIES / TYPES OF SEGMENTATION.
Consumer markets can be segmented based on several factors. Here are some of the most
common bases for segmenting consumer markets:

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

1. Demographic segmentation: This involves dividing the market based on demographic

factors such as age, gender, income, education, occupation, and family life cycle. This is one
of the most popular bases for segmentation, as it allows marketers to create targeted
campaigns for specific groups of consumers. Examples of demographic market segments
include the following
 single men
 married couples with two or more children;
 women with an annual income above $65,000;
 women with a master's degree or related graduate degree; and  men with senior job
titles in the automobile industry.
 Demographic segmentation is relatively simple to manage, assuming the brand has the
necessary demographic information of potential customers.
2. Geographic segmentation: This involves dividing the market based on geographic factors
such as location, climate, and population density. This segmentation can help marketers
identify unique needs and preferences of customers in different regions and tailor their
marketing strategies accordingly. Example geographic market segments include the
following:
• North America
• Europe, Middle East, Africa (EMEA)
• Midwest United States
• Northeast United States
• New York, New Jersey and Connecticut
• Northern California and Southern California
• Cuyahoga County, Ohio
For geographic market segments, a brand may choose to offer products and services
tailored to the following:

• local or regional preferences, such as seasonal offerings like beach and ski season;
regional tastes like barbecue in the Southern or Midwestern United States; or local
laws and regulations.
• Geographic segmentation is relatively simple to manage, assuming the brand has the
location and address information of potential customers.

3. Psychographic segmentation: This involves dividing the market based on psychological

factors such as values, attitudes, personality traits, and lifestyle. This segmentation can help
marketers identify the emotional and social needs of customers and develop marketing
messages that appeal to them.

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

Psychographic segmentation works by grouping potential customers based on their beliefs,

values, lifestyle, opinions and interests. Brands use surveys, interviews and focus groups to
determine psychographic attributes of potential customers.
Examples of psychographic market segments include the following:

• People interested in healthy eating and physical fitness;

• People who voted for a particular candidate for office;  People
who practice a particular religion; and  People who believe in
sustainability.
Psychographic segmentation is more complex to manage, because it requires that brands
acquire the necessary psychographic data from potential customers. In addition, tools are
needed to manage that data and create market segments based on it.
4. Behavioral segmentation: This involves dividing the market based on consumer behavior
such as usage rate, brand loyalty, benefits sought, and occasion. This segmentation can help
marketers identify the specific behaviors and motivations of customers and create targeted
marketing strategies that influence their behavior.
5. Benefit segmentation: This involves dividing the market based on the benefits that
customers seek from a product or service. This segmentation can help marketers identify the
key benefits that customers value and develop marketing strategies that highlight those
benefits.
6. Occasion segmentation: This involves dividing the market based on specific occasions or
events that trigger consumer buying behavior. This segmentation can help marketers identify
the specific needs and preferences of customers during these occasions and create targeted
marketing strategies that appeal to them.
7. Product-related segmentation: This involves dividing the market based on specific
productrelated factors such as usage rate, application, product features, and price sensitivity.
8. Channel segmentation: This involves dividing the market based on the specific channels or
methods through which customers prefer to purchase products or services.
9. Time segmentation: This involves dividing the market based on the specific time period
during which customers make purchases.
Each type of segmentation can help businesses to identify and understand the specific needs and
preferences of their customers, and develop targeted marketing strategies that appeal to each
group. By combining different types of segmentation, businesses can create a more
comprehensive and effective marketing strategy that meets the needs of a diverse range of
customers.
TARGETING
 A target market is a group of people that have been identified as the most likely potential
customers for a product because of their shared characteristics, such as age, income, and
lifestyle.Identifying the target market is a key part of the decision-making process when a
company designs, packages, and advertises its product.

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

 Target Marketing refers to a concept in marketing which helps the marketers to divide the
market into small units comprising of like minded people. Such segmentation helps the
marketers to design specific strategies and techniques to promote a product amongst its target
market. A target market refers to a group of individuals who are inclined towards similar
products and respond to similar marketing techniques and promotional schemes.

 Kellogg’s K Special mainly targets individuals who want to cut down on their calorie intake.
The target market in such a case would be individuals who are obese. The strategies designed
to promote K Special would not be the same in case of any other brand say Complan or
Boost which majorly cater to teenagers and kids to help them in their overall development.
The target market for Kellogg’s K Special would absolutely be different from Boost or
Complan.
FACTORS THAT CAN INFLUENCE TARGETING DECISIONS
There are several factors that can influence targeting decisions, including:
 Segment Size: The size of a market segment can influence whether it is worth targeting.
Larger segments may offer more potential customers, but they may also be more
competitive.
 Segment Growth: If a market segment is growing quickly, it may be more attractive to
target, as it offers the potential for greater sales and profits.
 Segment Accessibility: Some segments may be more difficult to reach through
marketing efforts. For example, if a segment is not active on social media, it may be more
difficult to target through digital advertising.
 Segment Homogeneity: If a market segment is very homogeneous, with similar needs
and preferences, it may be easier to target effectively with a focused marketing message.
 Segment Profitability: The profitability of a market segment should also be considered
when targeting. Some segments may be more willing to pay a premium for a product or
service, making them more attractive to target.
BASES FOR IDENTIFYING TARGET CUSTOMER
Identifying target customers involves selecting one or more segments from your overall
market that you will focus your marketing efforts on. Here are some common bases for
identifying target customers:
 Demographic factors: These are the main characteristics that define your target market.
Everyone can be identified as belonging to a specific age group, income level, gender,
occupation, and education level. This includes age, gender, income, education,
occupation, and family status. For example, a company selling baby products might target
new parents or parents with young children.
 Geographic factors: This segment is increasingly relevant in the era of globalization.
Regional preferences need to be taken into account. This includes location, climate,

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

population density, and culture. For example, a company selling beachwear might target
customers in coastal areas with warm climates.
 Psychographic factors: This includes lifestyle, personality, values, beliefs, and attitudes.
For example, a company selling eco-friendly products might target customers who
prioritize sustainability and environmental responsibility.
 Behavioral factors: This is the one segment that relies on research into the decisions of a
company's current customers. New products may be introduced based on research into
the proven appeal of past products
This includes purchase behavior, product usage, brand loyalty, and benefits sought. For
example, a company selling high-end fitness equipment might target customers who are
committed to their fitness goals and are willing to invest in premium products.
TARGET MARKET STRATEGIES
 Define Your Target Market: Clearly identify and define the specific segment(s) of the
market that you want to target. Consider demographics, psychographics, behavior, and
geographic location to create a detailed profile of your ideal customers.
 Conduct Market Research: Gather data and insights about your target market through
market research techniques such as surveys, interviews, focus groups, or analyzing
existing customer data. This will help you understand their needs, preferences, pain
points, and behaviors.
 Segment Your Market: Divide your overall market into distinct segments based on
common characteristics and behaviors. This allows you to tailor your marketing efforts
and messages to each segment, addressing their specific needs and motivations.
 Develop Buyer Personas: Create fictional representations of your ideal customers within
each target segment. Include details such as their demographics, motivations, goals,
challenges, and preferred communication channels. This helps you better understand and
empathize with your customers, leading to more effective marketing strategies.
 Positioning and Differentiation: Determine how you want your brand to be perceived in
the minds of your target market. Differentiate your products or services from competitors
by highlighting unique features, benefits, or values that resonate with your target
audience.
 Tailored Marketing Messages: Craft compelling and targeted marketing messages that
address the specific needs, desires, and pain points of your target market segments. Use
language, tone, and imagery that resonate with each segment and communicates the value
you offer.
 Select the Right Channels: Choose the marketing channels that are most effective in
reaching your target market. This could include social media platforms, email marketing,

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

content marketing, paid advertising, events, or traditional media channels. Focus on the
channels where your target audience is most active and receptive to your message.
 Personalize Customer Experiences: Leverage data and technology to personalize
interactions and experiences for your target market. This can include personalized email
campaigns, customized product recommendations, personalized landing pages, or
targeted advertising. Personalization enhances engagement and builds stronger
relationships with your customers.
 Build Relationships: Focus on building long-term relationships with your target market.
Engage with them through social media, provide valuable content, offer excellent
customer service, and create loyalty programs. Building strong relationships increases
customer retention and advocacy.
 Measure and Refine: Continuously measure the effectiveness of your target marketing
strategies and make adjustments based on data and feedback. Use analytics tools to track
key performance indicators (KPIs) and gather insights to optimize your marketing efforts.
POSITIONING
Positioning refers to the place you want your brand or product to have within a particular target
market. More specifically, the process of market positioning and brand positioning involves how
you market your brand or product to consumers to achieve that position.
Positioning is the process of creating a distinct and favorable perception of your brand or product
in the minds of your target market. It involves several tasks to effectively position your offering.
Example:
A handbag maker may position itself as a luxury status symbol. A TV maker may position its TV
as the most innovative and cutting-edge. A fast-food restaurant chain may position itself as the
provider of cheap meals.
KEY TASKS INVOLVED IN POSITIONING
 Research and Analysis: Conduct thorough market research to understand your target market,
competitors, and industry landscape. Analyze customer needs, preferences, and behavior, as
well as competitors' positioning strategies. This research forms the foundation for developing
your positioning strategy.
 Identify Unique Selling Proposition (USP): Determine your unique selling proposition or
key differentiators that set your brand or product apart from competitors. Identify the unique
features, benefits, or attributes that are most relevant and valued by your target market.
 Define Target Market Segments: Clearly define and segment your target market based on
demographics, psychographics, behavior, or other relevant criteria. Identify the specific
customer groups or segments that are most likely to be interested in and benefit from your
offering.

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

 Develop a Positioning Statement: Craft a concise and compelling positioning statement that
captures the essence of your brand or product's value proposition. The positioning statement
should communicate your target market, unique attributes, and the benefits or value you
offer.
 Communicate Value Proposition: Develop messaging that effectively communicates your
value proposition to your target market. This includes creating clear and compelling
messages that highlight the key benefits, outcomes, or solutions your brand or product
delivers to customers.
 Choose Positioning Strategies: Select positioning strategies that align with your brand's
objectives and resonate with your target market. Common positioning strategies include
pricebased positioning, quality-based positioning, convenience-based positioning, or
emotionbased positioning, among others.
 Develop Brand Identity: Create a strong and cohesive brand identity that aligns with your
positioning. This includes designing a visually appealing brand logo, choosing appropriate
brand colors, developing brand guidelines, and crafting a brand voice that reflects your
desired positioning.
 Consistent Messaging: Ensure consistent messaging across all marketing channels and
touchpoints. Your brand's messaging should align with your positioning strategy and
consistently reinforce the unique value proposition and key benefits you offer.
 Monitor and Adapt: Continuously monitor market trends, customer feedback, and
competitive landscape to assess the effectiveness of your positioning. Make necessary
adjustments to your positioning strategy based on market dynamics and customer
perceptions.
 Communicate and Differentiate: Use various marketing channels and tactics to effectively
communicate and differentiate your brand or product. This includes advertising campaigns,
content marketing, social media, public relations, and other promotional activities that
reinforce your desired positioning.
MONITORING BRANDS PERFORMANCE AND POSITIONING
Monitoring a brand's performance and positioning is crucial to assess its effectiveness in the
market and make informed strategic decisions. Here are some key aspects to consider when
monitoring brand performance and positioning:
 Brand Awareness: Measure the level of brand awareness among your target market. This
can be done through surveys, market research, or tracking metrics such as brand recall or
recognition. Regularly assess how well your brand is known and recognized by your target
audience.
 Brand Perception: Monitor how your brand is perceived by your target market. This
includes tracking customer opinions, conducting brand perception surveys, or analyzing

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

social media sentiment. Understand how your brand is perceived in terms of attributes,
quality, reliability, innovation, or other relevant factors.
 Market Share: Track your brand's market share to understand its relative position within the
industry. Monitor changes in market share over time to gauge your brand's competitiveness
and identify potential growth opportunities or threats from competitors.
 Customer Satisfaction and Loyalty: Assess customer satisfaction levels through surveys,
customer feedback, or Net Promoter Score (NPS) analysis. Monitor customer loyalty and
retention rates to gauge the strength of your brand's relationship with its customer base.
 Competitor Analysis: Regularly analyze the positioning strategies and performance of your
competitors. Understand their brand messaging, market share, customer satisfaction levels,
and any changes or innovations they introduce. This helps you identify areas where your
brand can differentiate and stay ahead of the competition.
 Online Presence and Engagement: Monitor your brand's online presence across various
platforms, including social media, review websites, and industry forums. Track engagement
metrics such as likes, shares, comments, reviews, and ratings to gauge audience engagement
and sentiment towards your brand.
 Brand Performance Metrics: Define and track key performance indicators (KPIs) that align
with your brand's objectives and positioning strategy. These could include metrics such as
sales revenue, customer acquisition costs, customer lifetime value, brand equity, or customer
perception scores. Regularly review these metrics to evaluate your brand's performance and
identify areas for improvement.
 Brand Consistency: Ensure consistency in brand messaging, visual identity, and customer
experience across different touchpoints. Monitor the alignment of brand communications and
experiences to maintain a cohesive brand image and reinforce your desired positioning.
 Market Trends and Industry Insights: Stay updated on market trends, industry insights,
and consumer behavior changes. Regularly conduct market research or leverage market
intelligence tools to gather data and insights that can inform your brand's positioning and
performance evaluation.
 Customer Feedback and Reviews: Pay attention to customer feedback, reviews, and
ratings. Monitor customer sentiment and identify areas where improvements can be made.
Address customer concerns promptly and use feedback as input for enhancing your brand's
positioning and performance.
PRODUCT DIFFERENTIATION STRATEGY
Product differentiation is a strategy used by businesses to create a unique and distinct position for
their products or services in the market. It involves highlighting the unique features, benefits, or
attributes of the offering to make it stand out from competitors and attract customers. Here are
some effective product differentiation strategies:

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

 Unique Features or Technology: Highlight specific features or technological

advancements that differentiate your product from competitors. This could include
superior performance, innovative design, advanced functionalities, or proprietary
technology.
 Quality and Reliability: Emphasize the superior quality, durability, and reliability of
your product. Communicate how your product undergoes rigorous testing and adheres to
strict quality standards, providing customers with a more reliable and long-lasting
solution.
 Price Differentiation: Offer your product at a competitive price point that provides
better value for money compared to similar offerings in the market. This can involve
offering a lower price while maintaining comparable quality, or providing premium
pricing for a higher-end product with added features or benefits.
 Customer Service and Support: Differentiate your product by providing exceptional
customer service and support. Offer timely and personalized assistance, extended
warranties, dedicated helplines, or online resources to help customers with any inquiries
or issues they may have.
 Customization and Personalization: Allow customers to customize or personalize your
product to meet their specific needs or preferences. This could involve offering various
options, configurations, or add-ons that enable customers to tailor the product to their
individual requirements.
 Brand and Reputation: Leverage your brand's reputation and heritage to differentiate
your product. Communicate your brand values, commitment to excellence, or social
responsibility initiatives to build trust and loyalty among customers.
 Packaging and Design: Create visually appealing and unique packaging or product
design that stands out on the shelves or online. A distinctive and eye-catching design can
capture attention and differentiate your product from competitors.
 Convenience and Ease of Use: Simplify the user experience and make your product
more convenient and intuitive to use. Streamline processes, reduce complexity, and
provide clear instructions or user-friendly interfaces to enhance usability.
 Environmental Sustainability: Highlight eco-friendly or sustainable features of your
product. Communicate how your product is made from recycled materials, reduces
energy consumption, or has a smaller carbon footprint compared to alternatives.
Environmental consciousness can be a differentiating factor for many consumers.
 Partnerships and Exclusive Distribution: Establish partnerships with complementary
businesses or secure exclusive distribution agreements. This can give your product access
to unique channels, increase visibility, and create a sense of exclusivity or scarcity among
customers.

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

COMMON ERRORS IN POSITIONING OF PRODUCT

When positioning a product in the market, there are several common errors that businesses may
make. These errors can have a negative impact on the success of the product and its ability to
resonate with the target audience. Here are some common errors in positioning of a product:
1. Lack of Market Research: Failing to conduct thorough market research is a common error.
Without a clear understanding of the target market's needs, preferences, and behavior, it
becomes difficult to position the product effectively.
2. Poor Differentiation: If a product does not offer a unique value proposition or fails to
differentiate itself from competitors, it can easily get lost in a crowded market. Effective
positioning requires identifying and communicating a clear and compelling point of
differentiation.
3. Inconsistent Messaging: Inconsistent messaging can confuse customers and dilute the
positioning of the product. The messaging should be consistent across all marketing channels
to create a cohesive and unified brand image.
4. Overpromising or Under delivering: Making exaggerated claims or promises that the
product cannot fulfill can lead to disappointed customers and damage the brand's reputation.
It is important to align the positioning with the product's actual capabilities and deliver on the
promises made.
5. Ignoring Target Audience: Failing to understand the needs, preferences, and motivations of
the target audience can result in ineffective positioning. It is crucial to tailor the positioning
strategy to resonate with the specific target market.
6. Neglecting Competitive Analysis: Without a thorough understanding of the competitive
landscape, it is challenging to position the product effectively. Analyzing competitors'
strengths, weaknesses, and positioning strategies can help identify gaps and opportunities for
differentiation.
7. Lack of Adaptability: Markets are dynamic, and consumer preferences can change over
time. Failing to adapt the positioning strategy to evolving market conditions can lead to a loss
of relevance and competitiveness.
8. Inadequate Communication Channels: Choosing the wrong communication channels or
failing to reach the target audience through the appropriate channels can result in limited
exposure and reduced impact of the positioning efforts.
9. Poor Brand Alignment: The positioning of a product should align with the overall brand
strategy and values. Inconsistencies between the product positioning and the brand image can
confuse customers and weaken the brand's perception.
10. Neglecting Customer Feedback: Customer feedback is valuable for refining and adjusting
the product positioning. Ignoring customer feedback and failing to address their needs can
result in missed opportunities for improvement and growth.
3V CONCEPTS OF MARKETING
The 3V concepts of marketing, also known as the 3Vs of marketing, are three fundamental
principles that guide marketing strategies and activities. The 3Vs represent Value, Volume, and
Variety. Let's explore each concept in more detail:

Department of MBA, JVIT

 MARKETING MANAGEMENT (22MBA15)

 Value: Value refers to the perceived benefits or worth that customers receive from a product
or service in relation to the price they pay. It emphasizes the importance of understanding and
meeting customer needs, providing quality, and delivering a superior customer experience.
Creating and delivering value is at the core of successful marketing strategies. Businesses
need to identify the value proposition of their offerings, communicate it effectively to
customers, and continually strive to enhance and deliver value to maintain customer
satisfaction and loyalty.
 Volume: Volume represents the quantity or volume of products or services sold. It focuses on
the scale of business operations and the ability to generate sales and revenue. Achieving a
desirable volume requires effective demand generation, lead generation, sales conversion,
and customer retention strategies. By understanding market demand, customer preferences,
and competitive dynamics, businesses can optimize their marketing efforts to drive sales
volume and achieve business growth objectives.
 Variety: Variety refers to the range or diversity of products or services offered to customers.
It highlights the importance of providing customers with choices and options to cater to their
unique needs and preferences. Offering a diverse product or service portfolio allows
businesses to target different market segments, accommodate varying customer requirements,
and capture a wider customer base. By understanding market segments and their specific
preferences, businesses can develop and offer a variety of products or services that address
different customer needs, enhance customer satisfaction, and boost market share.

IMPORTANT QUESTIONS:
1. What is market segmentation? Briefly discuss the basis for segmentation. 7m
2. State marketing segmentation strategies. 3m
3. Explain/Establish the tasks involved in positioning.7m/10m
4. Explain target market strategies.10m
5. What are the benefits of market segmentation? Briefly explain 7m
6. Explain segmentation, targeting and positioning? 10m
7. Define positioning.3m
8. Explain the bases used for segmenting consumer market. 10m
9. What is market segmentation? Briefly explain the requisites of effective segmentation.7m
10. Discuss the common errors in positioning of product.7n
11. Explain the 3v concepts in marketing .3m

Department of MBA, JVIT

MARKETING MANAGEMENT (22MBA15)

Department of MBA, JVIT