Theme: Segmenting, Targeting & Positioning

Refer to the attached illustration $($Image attached$).$ Number of segments can vary depending on the product$)$

Product category: Electrical & Electronics Industrial Equipment Manufacturer

Part A: Market Segmentation

Choose a product $($goods $/$ service$)$ from your company, preferably in which you have a role to play. Segment the entire market using an appropriate primary segmentation variable w$.$r$.$t$.$ to the selected product. What other descriptive variables will you choose to further describe the segment?

Part B: Market targeting

Evaluate attractiveness of each identified segment. Select the segments that you choose to target.

Provide adequate supporting reasons.

Part C: Positioning

From the above discussion choose a target segment. Now for the same product $($goods$/$service$)$ offering, write a positioning statement for this chosen target segment. $*($Refer to the Note and examples given below$)$

Part D: Identify a new Segment

Based on the segmentation exercise done in Part A$,$ identify a potential new segment that the company can target. $...$

What are the points of parity $($POP$)$ & points of differentiation $($POD$)$ for your product $/$service compared to competition when it comes to targeting the new segment?

Write a suitable positioning statement and discuss how you will differentiate your product in the minds of the new target segment to achieve maximum market share or sales.

$*$NOTE: The positioning statement generally follows the form:

For $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_($target audience$)$

Our Product$/$Brand $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_($your Product$$s name$)$

is $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_($competitive frame$)$

That provides $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_($single most important benefit$)$

Because $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_($Reason to believe$)$

Find below few examples of Positioning Statements; notice that the statements cover all the points mentioned above. You answer should look like example no$\mathrm{.}3$

E$.$g$.1$ Positioning statement of $$Fem$$ Electronics & Electrical Industrial Manufacturing Company:

For MNCs who need customized solutions $($target audience$),$Fem$($product$/$Brand$)$ is an electrical component manufacturing company $($competitive frame$)$ that provides timely customized solutions according to specifications provided by customer $($single most important benefit$)$ because of in house technical expertise, experience and qualifications of our engineering team from premier institutes $($reason to believe$)$

E$.$g$.2$ Positioning Statement for Financial Banking Software targeting New Age Fintechs

For New age Fintechs companies seeking a cutting edge technology $($target audience$),$ Flexcube by Oracle $($product$/$Brand$)$ is a comprehensive banking software platform $($competitive frame$)$ that provides

unparalleled flexibility, seamless integration for optimal operations and enhanced customer experience

$($single most important benefit$)$ because of the proven track record with $600+$ banks in $120+$ countries, in

leading digital excellence in the evolving financial industry $($reason to believe$)$

E$.$g$.3$ Positioning Statement for Ad Sales to Pharma Sector of Business News Channel

For the growing healthcare sector, with their unique needs seeking audience with Business and Investing Professionals, BT$-$TV$,($Business Today TV$)$ is a strategically positioned channel for timely, trusted and insightful updates that provides unparalleled visibility to your brand, reaching key decision$-$makers, ensuring maximum impact and engagement because we are the emerging News channel backed by Business Today with the highest circulation and readership of Business Magazines in India.$\backslash$table$[[,$Segment $1,$Segment $2,$Segment $3,$Segment $4,$Segment $5],[$Prime Variable$-,,,,,],[$Type of Industry,MNCs$,$ Electrical equipment manufacturers, industry systems manufacturers & marketers,Local manufacturin g industries catering to big players,Local manufacturing industries,Small vendors & service centers,Government & large firms$],[$Descriptive Variables$],[$Firm Size,Large scale industry,Medium scale industry,Small scale industry,Unorganised,Large$],[$Ownership$,$Privately owned,Privately owned & family businesses,$\backslash$table$[[$Sole$],[$proprietorship$],[$or family$],[$business$]],$Sole proprietorship,Public or government$],[\backslash$table$[[***$ Other$],[$descriptive$],[$variables to be$],[$added as$],[$relevant to$],[$your product$],[$category$]],,,,,],[,,,,],[,,,,],[$Benefits Sought by each segment,Quality standards, timely delivery, order made to specifications, after sales service,Design according to specifications,Design according to specifications,Buy standard products, price sensitive$,$Price, maintenance and service$]]$