How this guide raises your game :-
- Learn the 3 main types of segmentation and the pros and cons of each.
- Understand how to set up a market attractiveness model to help targeting decisions.
- Learn how to build a brand positioning statement.
Segmentation, targeting and positioning is a marketing process that starts with splitting up the market into more manageable segments. It’s usually not possible to go after the whole market, so the process helps you set up which parts of the market to go after.
You evaluate each segment to see which has the highest potential. Attractive target markets will deliver higher sales and profits in the the long-term. That’s good for your profit and loss.
The process ends with your positioning statement. This is a simple statement that tells everyone who you’re going after and how you’re going to compete. It sets up everything else you do in creating your brand identity and marketing plan.
But before we go over how the segmentation, targeting and positioning process works, let’s first look at where it sits in the brand development process.