Marketing
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Companies use market strategies in aim of gain customers from their competitors, understand customer needs and wants and try to keep these customers buy their products constantly. So they use three main processes which are market segmentation, market targeting and market positioning.
First step is market segmentation which the process of dividing the market into segments based on customer characteristics and needs. Consumers divided into group passed on:
Demographics which focuses on the characteristics of the customer. For example age, gender, income bracket, education, job and cultural background.
Psychographics which refers to the customer groups lifestyle. For example, their social class, lifestyle, personality, opinions, and attitudes.
Behaviors which is based on customer behavior. For example, online shoppers, shopping centre customers, brand preference and prior purchases.
Geographical location such as continent, country, state, province, city or rural that the customer group resides.
By that way we chose which type of consumers we can serve. Apple is good example for market segmentation; it divided its customers to groups like group who buy IPhone and other who buy laptop.
The second step is market targeting, is selecting one or more segment to serve after evaluating each market segment .This step help us to know which segment we will serve and know needs and wants of the customers. Example for market targeting, Ferrari target rich people who have high purchasing power to sell to them its high performance and speed cars.
Finally, after we selecting which segment to serve, we try to but unique idea about our products in mind of our customers and that what called Positioning, so we create image in our customer minds that make our products choice number one for them . by this way we will able to gain customers from