Entrepreneurship Pre-final

• Market Identification


  A strategic marketing approach and process that is intended to define the specific customer of the product
• Market Identification Process


  • Market Segmentation
  • Market Targeting
  • Market Positioning
• Market Segmentation


  An entrepreneurial marketing strategy designed primarily to divide the market into small segments with distinct needs, characteristics, or behavior
• Methods for Segmenting the Market

  • Geographic Segmentation
  • Demographic Segmentation
  • Psychological Segmentation
  • Behavioral Segmentation
• Points to Consider in Segmentation

  • Accessibility of the market segment
  • Size of the market segment
  • Distinction of the market segment
• Market Targeting


  A stage in market identification process that aims to determine the set of buyers with common needs and characteristics
• Marketing Targeting Process


  • Evaluating each market segment
  • Selecting the target market segment or segments to serve
• Marketing Targeting Evaluation


  • Size and Growth of the Segment
  • Structure of the Segment
  • Capability of the Business
• Marketing Targeting Selection


  • Individual or one-to-one Marketing
  • Segmentation Marketing
  • Differentiated Marketing
  • Concentrated Marketing
  • Mass or differentiated Marketing
• Market Positioning


  The process of arranging a product to occupy a clear, distinct, and desirable place in relation to other competing products in the mindset of the target consumers
• 3 Steps Marketing Positioning

  • Determine whether the market position is distinct from others
  • Evaluates the advantages or benefits of every possible position
  • Decides on the market position
• Perceptual Map


  It shows the position of similar products competing in the market as perceived by the customers