1.6: Segmenting and Targeting Considerations

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S-T-P and reaching consumers

In the following sections, we will examine these factors used to segment and target consumers.

Consumer Analysis
1. Understand the factors influencing the consumer decision-making process.
2. Examine demographic, psychological, and psychographic characteristics of the consumers.
3. Analyze the characteristics of current consumers and their behaviors from internal transactional data.
Segmentation
1. Define segment distinctions and characteristics using your consumer analysis.
2. Evaluate the accessibility and profitability of segments to allocate resources toward reaching them with a unique marketing mix.
Targeting
1. Develop consumer personas that reflect characteristics of segments that would influence purchase decisions.
2. Create storylines for consumer personas that connect the product or service to the target group.
Positioning
1. Identify competitors in the marketplace and evaluate your competitive edge.
2. Communicate that competitive edge to targeted consumers.
Evaluate Campaigns
1. Value Propositions
2. Collecting data
3. Return on Investment

Sections in this textbook will examine the many factors influencing a brand's success at each of these stages of developing a target market campaign.

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