market segmentation,positioning,launch etc

G

gargi.n

Gargi Naik
hi guys here an attachment about the market segmentation,product positioning about launching the product hope it is helpful; to u guys in your projects.:SugarwareZ-287:
 

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Market Segmentation​

The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are "most likely" to purchase your offering. If done properly this will help to insure the highest return for your marketing/sales expenditures. Depending on whether you are selling your offering to individual consumers or a business, there are definite differences in what you will consider when defining market segments.

Category of Need
The first thing you can establish is a category of need that your offering satisfies. The following classifications may help.

businesses:
Strategic - your offering is in some way important to the enterprise mission, objectives and operational oversight. For example, a service that helped evaluate capital investment opportunities would fall into this domain of influence. The purchase decision for this category of offering will be made by the prospect's top level executive management.
Operations - your offering affects the general operating policies and procedures. Examples might be, an employee insurance plan or a corporate wide communications system. This purchase decision will be made by the prospect's top level operations management.
Functional - your offering deals with a specific function within the enterprise such as data processing, accounting, human resources, plant maintenance, engineering design, manufacturing, inventory control, etc. This is the most likely domain for a product or service, but you must recognize that the other domains may also get involved if the purchase of the product or service becomes a high profile decision. This purchase decision will be made by the prospect's functional management.

the individual consumer:
Social Esteem or Pleasure - your offering satisfies a purely emotional need in the consumer. Examples are a mink coat or a diamond ring. There are some products that are on the boundary between this category and the Functional category such as a Rolex watch (a Timex would satisfy the functional requirement and probably keep time just as well).

Functional - your offering meets a functional requirement of the consumer such as a broom, breakfast cereal or lawnmower.

Segmentation of Needs
Then you should establish what the need is and who is most likely to experience that need. Your segmentation will be determined by a match between the benefits offered by your offering and the need of the prospect. Some "need" categories for segmentation include:

Reduction in expenses
Prospects might be businesses that are downsizing (right sizing), businesses that have products in the mature stage of their life cycle or individuals with credit rating problems.

Improved cash flow
Prospects might be businesses that have traditionally low profit margins, businesses that have traditionally high inventory costs or individuals that live in expensive urban areas.

Improved productivity
Prospects might be businesses that have traditionally low profit margins, businesses that have recently experienced depressed earnings or individuals with large families.

Improved manufacturing quality
Prospects might be businesses with complex, multi-discipline manufacturing processes.

Improved service delivery
Prospects might be service businesses in highly competitive markets, product businesses requiring considerable post-sale support or individuals in remote or rural areas.

Improved employee working conditions/benefits
Prospects might be businesses where potential employees are in short supply.

Improvement in market share/competitive position
Prospects might be new entrants to a competitive market.

Need for education
Prospects might be businesses or individuals looking for books on business planning, or seminars on Total Quality Management.

Involvement with social trends
Prospects might be businesses concerned with environmental protection, employee security, etc. or individuals who believe in say 'no' to drugs, anti-crime, etc.

Specific - relating to product/service characteristics
Prospects might be businesses or individuals interested in safety, security, economy, comfort, speed, quality, durability, etc.

Factors that segment prospects
Having determined the more general segmentation characteristics you can proceed to a more detailed analysis of the market. There are literally thousands of ways to segment a market, but the following are some of the more typical segmentation categories.

For businesses:

Industry by SIC code
This is especially beneficial for vertical market offerings.
Size - revenues, # employees, # locations
In general if your offering is highly sophisticated, requires significant resources or provides greater value based on volume, then the target should be the larger enterprises.

Job position/responsibility
Examples of offerings might be planning software for managers or cleaning agents for maintenance managers.

Climate
Examples of offerings might be dehumidifiers in areas near the ocean or snow plows in northern areas.
Time related factors
Some services in this category are vacation related industries in summer and tax planners in the spring.

Language
An example of a language specific service is a Spanish TV channel.

Status in the industry
You might want to target businesses that are the technology leader or revenue leader or employee satisfaction leader, etc.

Accessibility
To minimize promotion and sales expense you may want to target urban rather than rural or local rather than national prospects.

Future potential
A good example is how Apple Computer supplied products to schools at all levels to condition students graduating into the marketplace.

Ability to make a quick purchase decision
Targeting individual purchasers versus business committees can significantly reduce marketing expense and increase the probability of a quick close.

Access (or lack of access) to competitive offerings
Cable TV business's significant investment in their service delivery system has allowed a near monopoly for some time. IBM's service reputation insured minimal competition during the mainframe days.

Need for customization
Offerings such as police cars, busses for municipalities and specialized computer systems fall into this category.

Product or service application to a business function
Examples are data processing, accounting, human resources and plant maintenance.

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