Segmentation, targeting and positioning
Does any of these concepts ring a bell?
Let me introduce you to what is the base of audience understanding when talking about marketing.
Segmentation: identify groups and label them
Segmenting the market audience is dividing the audience into different groups that have something in common like similar needs or similar behavior. The group should be as similar as possible inside but different from other groups/segments.
Segmentation can help brands in many aspects: product competition, media identification, and decision making based on different objectives that are specific for each segment.
There are different criteria for segmentation that lead to different strategies applied to each segment:
Targeting: who do you want to talk to?
Targeting is defining the segment you, as a brand, are interested in talking to. Who will you focus your marketing mix efforts so as to fulfill their needs.
This target segment should be: Identifiable, accessible, substantial, with unique needs, and durable.
Positioning: who are you in other minds?
Positioning is how your product or brand is perceived by a specific target segment in relation to your competitor’s perception. The place that your product or brand occupies in your target audience’s minds. It is not what you do, but what the customer perceives from what you do. What the consumer finds different, and the reason to believe in it.
You will find here three concepts that are essential to positioning your brand:
- Points of parity: what does your brand have in common with competitors. Those attributes that are not unique to your brand or product.
- Point of difference: those attributes that are positively associated by your consumers to your brand. That thing that makes you different from your competitors: value proposition.
- Reason to believe: why your brand has this differential attributes
Now that we have differentiated these three concepts, you can understand more about how you define which audience you need to talk to, what are attributes make you special in that audience, and how to understand where are you placed in your target audience’s mind.
Hope you liked today’s “Let’s talk about…” topic, I look forward to reading your comments and positions about it!