What is segmenting and Targeting?

"A Customer Centric Approach "

SEGMENT:- A market segment consist a group of customers who have similar set of needs and wants .
Large Multinational or national  organizations can not serve each and every customer in mass market with similar product or services as every customer in different sectors have their unique wants and demands.

Some of the benefits of SEGMENTING are:-
1. Better customization of the Product
2. Better Pricing
3. better services to the customer
4. efficient distribution channel
5. Higher customer satisfaction
6 . Higher customer Advocacy

What Is Positioning?

POSITIONING :-- "FIGHT FOR THE CUSTOMERS MIND"
1. Positioning is how marketeers secure a place in the mind of the target Customer.
2. It is how marketeers create a perception in the mind of customer when they think of purchasing a particular product.

For EX:- In India when people think about the tooth paste the first thing that comes to their mind is COLGATE. or when people think about the scooters the firs thing that comes to their mind is "BAJAJ CHETAK "


If you are in a business where  you are selling a product (soaps , tooth paste) that already has no of competitors in the market then in that case you really need to be carefully and cleverly position your product. like Sunfeast did when it was launched against competitors like Parle , Britannia etc.

Another Example is Dominos  Pizza They have Positioned themselves as the fast delivery of Pizzas in 30 minutes so now whenever you think of eating pizza at home the first thing that may come to your mind is Dominos Pizza.


                

So Positioning is where you occupy  a Place in mind Of customer so when you think of about a Particular product so the first thing that should come to the customers mind id your Product.