Create Value for Target Customers


Create Value for Target Customers

Steps in market segmentation, targeting, and positioning

Select customers to serve
Decide on a value proposition
Segmentation
Dividing the total market into smaller segments.
Create value for targeted customers
Differentiation
Differentiate the market offering to create superior customer value.
Targeting
Select the segment or segments to enter.
Positioning
Position the market offering in the minds of target customers.

Market Targeting

The process of evaluating each market segments attractiveness and selecting one or more segments to enter.

Differentiation

Actually differentiating the firm’s market offering to create superior customer value

Positioning

Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers
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