Market Segmentation divides a market into well-defined slices. Each slice consists of a group of customers who share a similar set of needs and wants.
there are two broad groups to define segments;
1. Descriptive Charecteristics- Geographic, demographic and psychographic
2. Behavioral Considerations- Consumer responses to benefits,usage occassions and brands
Targeting is selectinf specific segments which the company and marketers feel could generate maximum revenue.
Positioning is the act of designing a company's offering and image to occupy a distinctive place in the minds of the target group.
As a Ready-To-Eat foods brand, MTR was primarily looking at the urban households with both the spouses working, or employed bachelors who didn't have much time to cook.
So the whole range was always targeted at the urban population.
They positioned themselves as a trademark for purity, taste and heritage and have been striving to keep the same values up.
Rural Markets are not even being targeted.
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