Segmentation -> Targeting -> Positioning.. Marketing lessons from movie screen

We need to identify the existing segments among the consumers so that we can concentrate on one segment and the idea is to meet the needs of this targeted segment profitably. Won't bore you with marketing jargons and keeping it pretty simple.

Segmentation -> Identify that what people wants? Identify their needs and group them according to the common needs like all butterscotch lovers will be one segment and chocolate lovers will be one segment.

Targeting -> This is inward looking measure as you have to ask the question to yourself that what should you do now? produce butterscotch or chocolate or both? Which segment is profitable? Can you produce all the butterscotch and garner more profits then selling chocolate or vice versa?

Positioning -> Now, you know that what people wants (not a simple task and you have to keep refining your observations) you can position yourself like that. You have to show them whatever they want to see. That's it. S - T- P of marketing. Simple isnt it? But no, it's not. These three words almost consume a marketer's life. Well read on the next post to understand it better..