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Strategy and segmentation

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2022/2023 Written for academic year
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The University Of Nottingham (UON)
Course
Marketng management
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Marketing Management involves the planning, execution, and oversight of activities that deliver value to customers while achieving organizational objectives. It encompasses analyzing market opportunities, selecting target markets, and developing effective marketing mixes—product, price, place, and promotion. A key focus is on building strong customer relationships and adapting strategies in response to market trends and competitive dynamics. By integrating consumer insights and innovative thinking, marketing management ensures that businesses can effectively position their offerings and sustain long-term growth.

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Lecture 4

Segmentation and strategy

Segmentation sits at two extremes
- Do we deal with a mass market? – cheap and efficient
- Or do we deal with an individual – not very efficient and expensive

Definitions:




Segmentation- who are the different audiences we COULD teach
Targeting – who WILL we serve
Criteria to choose: - profitability
-accessibility
-
Positioning- HOW do we make ourselves more attractive than the competitors – meeting
customer needs profitably

, PROFILE:

Demographic:




People you mix with




Thinking
represents
behaviour




Socio-economic:




Based on
your wealth

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Subjects

  • segmentation
  • targeting
  • positioning
  • psychographics

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