Market Segmentation , Positioning and Targeting
Content
In Mass Marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers. Henry Ford- Model T Ford in one color. Coca-Cola -6.5 ounce bottle.
A Market Segment consists of a group of customers who share a similar set of needs and wants. Rather than creating the segments, the marketer·s task is to identify them and decide which one(s) to target. Segment marketing offers key benefits over mass marketing.
The company can offer better design, price, disclose and deliver the product or service and also can finetune the marketing program and activites to better reflect competitors marketing.
A niche is a more narrowly defined customer group seeking a distinctive mix of benefits. Marketers usually identify niches by dividing segment into subsegments. Eg: Ezee , the liquid detergent from Godrej, is a fabric-washing product for woolen clothes. Because of its mildness, customers use this detergent to wash delicate clothes that could get damaged if harsh and strong detergnts are used instead.
Crack cream from Paras pharamaceuticals. Itch guard. Neem active by Henkel india, Vicco vajradanti Meswak and babool Astha in india, Qtv in Pakistan Star Sports, ESPN, Ten sports, Zee sports. Star Cricket Better photography
The customers have a distinctive set of needs. They will a premium to the firm that best satisfies them The niche is fairly small but has size, profit and growth potential and is unlikely to attract many other competitors.
Hall mark personal expressions account for one of every two greeting cards purchased in the UNITED STATES. Ayurvedic products and all natural products usually command a premium. Himalaya Drug company. Revolution clothing ltd.
Target marketing is leading to marketing programs tailored to the needs and wants of local customer groups in trading areas, neighnbourhoods, even individual stores. Many banks in indai have specialised brands that exclusively cater to the corporate customers. In kerala, there are banks that have NRI branches. Spiderman 3 in five different languages including Bhojpuri. Bharath matrimony.
What is grassroot marketing?
The ultimate level of segmentation lead to ´segments of oneµ, customized marketing or one ²to-one marketing. Paint companies such as Asian Paints, Kansai Nerolac, Jenson and Nicholson, and Berger Paints follow the mass-customsation strategy. Ruff and tuff jeans by Aravind mills. Galleria credit card by United bank limited.
GEOGRAPHIC DEMOGRAPHIC PSYCHOGRAPHIC BEHAVIOURAL
Geographic segmentation calls for division of the market into different geographical units such as nations, states, regions,countries,cities or neighborhoods. In the south Asian context, geographic segmentation assumes importance due to variations in consumer preferences and purchase habits across different regions, across different countries and across different states in these countries.
One of the major geographical segmentation variables in south Asia is rural and urban. Literacy levels,income, spending power, and availabiltiy of infrastructure such as electricity, telephone network, roads as well as social and cultural orientations of people that effect the market potential.
Geographical markets also vary in their product requirements. In arid regions of india,and Pakistan, during hot and dry summer seasons , air coolers are used. However, this product is ineffective in geographical areas where the climate is hot and humid during the summer season, air conditioners are preferred.
Consumers in southern states like tamil nadu show a preference for freshly brewed coffee whereas consumers in many other states in idia tend to prefer tea. Even the taste and quality parameters of tea vary across various regions.
Division of market on the basis of variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality and social class.
Consumers wants and abilities change with age. Therefore age and life-cycle stages are important variables to define segments. Eg: Johnson·s baby soap and baby talcum powder, which are popular in almost all the south Asian countries are classic examples of products for infants and children.
Hindustan unilever limited introduced Pears soap in pink color, specifically targeted toward children. The magazine Magic Pot published by the Malayala Manorama group in India is targeted at nursery and primary school children. It has features like joining dots or finding the hidden animal by coloring the picture.
Fortnightly magazine published from Mumbai, JAM is targeted at young adults,defined as people below 24 years of age with a metro mindset. Channels like aastha or sanskar focussed on the older generation; Cartoon network , disney, hungama Tv and Nickleodon are channels addressing children. MTv, VTV are channels for youngsters.
Clearsil at adolescents for acne has been targeted at adolescents for acne treatment. Johnson and Johnson·s No Tears shampoo appealed to mothers and adults for regular use, and hence the company positioned it as a mild shampoo meant for regular use for adults.
Persons in the same part of the life cycle may differ in their life stage. Life stage defines a person·s major concern, such as getting married, deciding to buy a home, sending the child to the school, taking care of older family members, marrying off their children, planning for retirement.
These life stages present oppurtunities for marketers who can help people cope with their major concerns. Need for furniture and home appliances Savings cum insurnce schemes to help young parents plan for the education of their children. Insurance companies offer schemes for people who are planning their retirement life. Eg: AL HABIB bank of Pakistan targets senior citizens with special savings schemes that yeild a higher interest rate.
Men and Women have di egfferent attitudes. A research study examining how men and women shop found that men often need to be invited to touch a product, whereas women are likely to pick it up without prompting. Men often like to read product information; women may relate to a product on a more personal level.
Product categories such as clothing, hairstyling, cosmetics and magazines. Park Avenue for men Women drive Hero Honda Pleasure Emami for men DOVE·S CAMPAIGN.
OGILVY AND MATHER
PIERRE CARDIN
INCOME segmentation is a long-standing practice in a variety of products and services. Even if two consumers have similar income levels, each may own different types and brands of products bases on a host of factors such as lifestyle, attitudes and values. Eg: Nirma washing powder.
Each generation is influenced by the times in which it grows up-the music, politics, and defining events of that period. Members share the same major cultural, political and economic experiences and have similar outlooks and values. The younger generation play significant roles, not only as consumers, but also as initiators and influencers of buying decisions.
Social Class has a strong influence on preferences in cars, clothing, home furnishings, leisure activities, reading habits and retailers. The concept of social class in india is influenced by the caste system. Senior level executives with higher educational qualifications exhibit different purchase preferences and habits compared to a person with a similar income level but a different occupation, and lower education level.
Buyers are divided into different groups on the basis of psychological/personality traits, lifestyle or values. People within the same demographic group can exhibit very different psychographic profiles. Titan watches have a wide range of sub brands with in their titan range such as Edge, Regalia, Nebula and Raga to appeal to different lifestyle segments. Some with gold-plated bracelets and some with leather straps. Fast track brand
VALS
SO, HOW ABOUT ANOTHER ASSIGNMENT AND HERE IT GOES.,««««««««««««««««« ««««««««««««««««««««« ««««««««««««««««««««« «««HEY, YOU SHOULD EXPLAIN
YOU NEED TO FILL THIS SLIDE,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,DON·T FORET EXAMPLES,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Positioning is what you do to the mind of the prospect. That is , you position the product in the mind of the prospect. Positioning is more concerned with the customer·s perception of the product offer, than the offer as such.
The aim of positioning is to create a perception for our brand in the prospect·s mind so that it stands apart from competing brands.
A product cannot be everything to everyone; hence the importance of positioning. Positioning means putting the product in a predetermined orbit. Positioning connects product offering with target market.
CONSUMER·S MIND IS A GEOMETRIC PERCEPTUAL SPACE; THE PRODUCT/BRAND SEEKS A LOCUS IN THE SPACE THROUGH POSITIONING. WHILE POSITIONING A BRAND , THE FIRM HAS TO RECKON COMPETITOR·SESPECIALLY THE LEADER·S ² POSITIONING. Eg: IBM, CADBURY·S
Positioning is not over at one stroke; it has to be monitored and adapted. Eg: complan Product positioning and value Proposition. A value proposition is the assertion/statement of the benefits and satisfaction that the product is offering. Infact the rule in positioning is that it should state the value proposition and thereby appeal to the target consumers.
POSITIOINNG VIZ-A-VIZ COMPETITION, ITS PERFORMANCE GAPS. POSITIONING ON THE CONSUMER·S EXPECTATIONS AND DESIRES POSITIOINING ON THE PLANK OF QUALITY ON THE PLANK OF PRICE PLANK OF SERVICE ON THE PRODUCT·S CONFIRMITY WITH SOCIAL DEMANDS. CAN BE POSITIONED ON ANY FACTOR EXISTINING OR EMERGING, WHICH IS OF IMPORTANCE TO THE TARGET MARKET.
Relate and link your positiong to your differentiation theme. Differentiation and positioining are to be employed in alighment; differentiation is actually the predlude to positioning. Find out the positioinig gaps in the prduct category and the attributes that can fill them in the minds of the consumers. Analyse your competitor·s positions and identify the possible position for your product.
In particular, evaluate the leader·s position; the leading brand that occupies a special position in the consumer·s mind (cadbury·s in choclates); other brands have to necessarily relate themselves in some way to the leader·s position; they cannot ignore the position of the leader, nor wish it away. Decide the locus you seek in the mind so the consumers and the attributes of your offer with which you will secure it.
Relate and link your positioning to your target consumers (for whom it is intended). And ensure that the positioining appeals to them. Segmentation/targeting and differentiation/positining are to be handled in a composite manner. Communicate effectively to the target market the positioing you have chosen. Link your positioning to your value proposition; ensure, it actually from your value proposition
Monitor the positioning as the product picks up. Check whether any variance occurs between your intended positioning and the actual position the consumer assigns to it in his mind. Tackle the variance; go for a new positioing , if required.
WHAT IS PRODUCT POSITIONG AND BRAND POSITIONING?
Where is the new offer going to compete? At what? Which product function/customer need is it trying to meet? What other products categories serve this need? In other words, what are the substitute products that serve the same need? Where is the real gap, where is such a new offer most welcome and wanted by the market? What are the company·s competencies to fight there?
Which are the competing brands in the chosen product category? What are the unique claims/strengths of the various brands? What position do they enjoy in consumer·s evaluation and perception? According to the consumer rating will of the competing brands, is there a wide gap in expecataionsperformance? What kind of product/new/attrtibutes/new funcitons will atract the consumer? What is the most favoured position«and yet vacant? Can the new brand claim the needed distinction and take the position and satisfy that need?
Products do undergo repositioining as they go along their life cycle. In some cases, even products that are faring well are repositioned. This is done mainly to enlarge the reach of the product offer and to increase the sale of the product by appealing to a wider target market. The product is provided with some new features or it is associated with some new uses and is repositioned for existing as well as new target segments.
Milkmaid is a good example of repositiong. When the product was introduced in the sixties, it was positioned as a convenient form of milk for use in tea and coffee. When the sales reached a plateau in the 1980s , the company studied the situation in detail and decided to repostioned it as a product for uses involving milk. A well planned advertising campaign was launched, repositioning milkmaid as an ideal ingredient for a varitey of sweets and other preparations, in addtion to daily use in tea/coffee.
THE BRAND WAS POSITIONED TO APPEAL TO THE TOP 1 PERCENT OF THE URBAN POPULATION IN INDIA DESIGNS WERE WESTERN, SHOWROOMS VERY GLAMOUROUS,AND ADVERTISING TOO SOPHISTICATED THE PRODUCT OFFER WAS PERCEIVED AS TOO ELITIST. NATURALLY, THIS POSITIONING FAILED TO GENERATE THE EXPECTED SALES VOLUME.
TITAN WENT TO THE MARKET WITH 18 CARAT JEWELLERY, THE NORM FOR JEWELLERY IN INDIA IS 22 CARAT. 18 CARAT STUFF COULD NOT BE EFFECTIVELY POSITIOINED AS JEWELLERY. AND THE FACT THAT THE BRAND WAS POSITIONED FOR THE RICH, ELITIES SEGMENT AGGRAVEATED THE MISMATCH. WHY SHOULD THIS SEGMENT AFTER ALL BUY 18 CARAT JEWELLERY? OBVIOUSLY, THERE WAS CONFUSION ABOUT THE VALUE PROPOSITION AND THE PRODUCT ATTRIBUTES, AS WELL AS THE TARGET MARKET AND MARKETING COMMUNICATIONS. THE ADVERTISING AND THE MARKETING CHANNEL TOOK THE POSTIONING TO AN UNINTENDED TARGET.
TITAN HAD TO TOTALLY REWORK ITS STRATEGY FOR THE JEWELLERY BUSINESS. TITAN ADMITTED IN INDIA , THE ENTRY CARD FOR WIDER APPEAL IN JEWELELLERY IS 22 CARAT GOLD, NOT 18 CARAT TITAN CHANGED THE MAJOR PRODUCT ATTRIBUTES. IT INTRODUCED A NEW COLLECTION IN 22 CARAT JEWELLERY. THE DESIGN WAS ALSO MADE MORE INDIAN
TITAN ALSO CHANGED ITS ADVERTISING AND CHANNEL STRATEGY TO MAKE TANISHQUE LESS ELITIEST. THE AIM WAS TO MAKE APPEAL TO A WIDER CLIENTELE, INCLUDING THE UPPER MIDDLE CLASS. WITH THE REPOSITING, THE JEWELLERY BUSINESS NOW CONTRIBUTES 20 PERCENT OF TITAN·S CORPORATE BEHAVIOUR.
THE END
In Mass Marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers. Henry Ford- Model T Ford in one color. Coca-Cola -6.5 ounce bottle.
A Market Segment consists of a group of customers who share a similar set of needs and wants. Rather than creating the segments, the marketer·s task is to identify them and decide which one(s) to target. Segment marketing offers key benefits over mass marketing.
The company can offer better design, price, disclose and deliver the product or service and also can finetune the marketing program and activites to better reflect competitors marketing.
A niche is a more narrowly defined customer group seeking a distinctive mix of benefits. Marketers usually identify niches by dividing segment into subsegments. Eg: Ezee , the liquid detergent from Godrej, is a fabric-washing product for woolen clothes. Because of its mildness, customers use this detergent to wash delicate clothes that could get damaged if harsh and strong detergnts are used instead.
Crack cream from Paras pharamaceuticals. Itch guard. Neem active by Henkel india, Vicco vajradanti Meswak and babool Astha in india, Qtv in Pakistan Star Sports, ESPN, Ten sports, Zee sports. Star Cricket Better photography
The customers have a distinctive set of needs. They will a premium to the firm that best satisfies them The niche is fairly small but has size, profit and growth potential and is unlikely to attract many other competitors.
Hall mark personal expressions account for one of every two greeting cards purchased in the UNITED STATES. Ayurvedic products and all natural products usually command a premium. Himalaya Drug company. Revolution clothing ltd.
Target marketing is leading to marketing programs tailored to the needs and wants of local customer groups in trading areas, neighnbourhoods, even individual stores. Many banks in indai have specialised brands that exclusively cater to the corporate customers. In kerala, there are banks that have NRI branches. Spiderman 3 in five different languages including Bhojpuri. Bharath matrimony.
What is grassroot marketing?
The ultimate level of segmentation lead to ´segments of oneµ, customized marketing or one ²to-one marketing. Paint companies such as Asian Paints, Kansai Nerolac, Jenson and Nicholson, and Berger Paints follow the mass-customsation strategy. Ruff and tuff jeans by Aravind mills. Galleria credit card by United bank limited.
GEOGRAPHIC DEMOGRAPHIC PSYCHOGRAPHIC BEHAVIOURAL
Geographic segmentation calls for division of the market into different geographical units such as nations, states, regions,countries,cities or neighborhoods. In the south Asian context, geographic segmentation assumes importance due to variations in consumer preferences and purchase habits across different regions, across different countries and across different states in these countries.
One of the major geographical segmentation variables in south Asia is rural and urban. Literacy levels,income, spending power, and availabiltiy of infrastructure such as electricity, telephone network, roads as well as social and cultural orientations of people that effect the market potential.
Geographical markets also vary in their product requirements. In arid regions of india,and Pakistan, during hot and dry summer seasons , air coolers are used. However, this product is ineffective in geographical areas where the climate is hot and humid during the summer season, air conditioners are preferred.
Consumers in southern states like tamil nadu show a preference for freshly brewed coffee whereas consumers in many other states in idia tend to prefer tea. Even the taste and quality parameters of tea vary across various regions.
Division of market on the basis of variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality and social class.
Consumers wants and abilities change with age. Therefore age and life-cycle stages are important variables to define segments. Eg: Johnson·s baby soap and baby talcum powder, which are popular in almost all the south Asian countries are classic examples of products for infants and children.
Hindustan unilever limited introduced Pears soap in pink color, specifically targeted toward children. The magazine Magic Pot published by the Malayala Manorama group in India is targeted at nursery and primary school children. It has features like joining dots or finding the hidden animal by coloring the picture.
Fortnightly magazine published from Mumbai, JAM is targeted at young adults,defined as people below 24 years of age with a metro mindset. Channels like aastha or sanskar focussed on the older generation; Cartoon network , disney, hungama Tv and Nickleodon are channels addressing children. MTv, VTV are channels for youngsters.
Clearsil at adolescents for acne has been targeted at adolescents for acne treatment. Johnson and Johnson·s No Tears shampoo appealed to mothers and adults for regular use, and hence the company positioned it as a mild shampoo meant for regular use for adults.
Persons in the same part of the life cycle may differ in their life stage. Life stage defines a person·s major concern, such as getting married, deciding to buy a home, sending the child to the school, taking care of older family members, marrying off their children, planning for retirement.
These life stages present oppurtunities for marketers who can help people cope with their major concerns. Need for furniture and home appliances Savings cum insurnce schemes to help young parents plan for the education of their children. Insurance companies offer schemes for people who are planning their retirement life. Eg: AL HABIB bank of Pakistan targets senior citizens with special savings schemes that yeild a higher interest rate.
Men and Women have di egfferent attitudes. A research study examining how men and women shop found that men often need to be invited to touch a product, whereas women are likely to pick it up without prompting. Men often like to read product information; women may relate to a product on a more personal level.
Product categories such as clothing, hairstyling, cosmetics and magazines. Park Avenue for men Women drive Hero Honda Pleasure Emami for men DOVE·S CAMPAIGN.
OGILVY AND MATHER
PIERRE CARDIN
INCOME segmentation is a long-standing practice in a variety of products and services. Even if two consumers have similar income levels, each may own different types and brands of products bases on a host of factors such as lifestyle, attitudes and values. Eg: Nirma washing powder.
Each generation is influenced by the times in which it grows up-the music, politics, and defining events of that period. Members share the same major cultural, political and economic experiences and have similar outlooks and values. The younger generation play significant roles, not only as consumers, but also as initiators and influencers of buying decisions.
Social Class has a strong influence on preferences in cars, clothing, home furnishings, leisure activities, reading habits and retailers. The concept of social class in india is influenced by the caste system. Senior level executives with higher educational qualifications exhibit different purchase preferences and habits compared to a person with a similar income level but a different occupation, and lower education level.
Buyers are divided into different groups on the basis of psychological/personality traits, lifestyle or values. People within the same demographic group can exhibit very different psychographic profiles. Titan watches have a wide range of sub brands with in their titan range such as Edge, Regalia, Nebula and Raga to appeal to different lifestyle segments. Some with gold-plated bracelets and some with leather straps. Fast track brand
VALS
SO, HOW ABOUT ANOTHER ASSIGNMENT AND HERE IT GOES.,««««««««««««««««« ««««««««««««««««««««« ««««««««««««««««««««« «««HEY, YOU SHOULD EXPLAIN
YOU NEED TO FILL THIS SLIDE,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,DON·T FORET EXAMPLES,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Positioning is what you do to the mind of the prospect. That is , you position the product in the mind of the prospect. Positioning is more concerned with the customer·s perception of the product offer, than the offer as such.
The aim of positioning is to create a perception for our brand in the prospect·s mind so that it stands apart from competing brands.
A product cannot be everything to everyone; hence the importance of positioning. Positioning means putting the product in a predetermined orbit. Positioning connects product offering with target market.
CONSUMER·S MIND IS A GEOMETRIC PERCEPTUAL SPACE; THE PRODUCT/BRAND SEEKS A LOCUS IN THE SPACE THROUGH POSITIONING. WHILE POSITIONING A BRAND , THE FIRM HAS TO RECKON COMPETITOR·SESPECIALLY THE LEADER·S ² POSITIONING. Eg: IBM, CADBURY·S
Positioning is not over at one stroke; it has to be monitored and adapted. Eg: complan Product positioning and value Proposition. A value proposition is the assertion/statement of the benefits and satisfaction that the product is offering. Infact the rule in positioning is that it should state the value proposition and thereby appeal to the target consumers.
POSITIOINNG VIZ-A-VIZ COMPETITION, ITS PERFORMANCE GAPS. POSITIONING ON THE CONSUMER·S EXPECTATIONS AND DESIRES POSITIOINING ON THE PLANK OF QUALITY ON THE PLANK OF PRICE PLANK OF SERVICE ON THE PRODUCT·S CONFIRMITY WITH SOCIAL DEMANDS. CAN BE POSITIONED ON ANY FACTOR EXISTINING OR EMERGING, WHICH IS OF IMPORTANCE TO THE TARGET MARKET.
Relate and link your positiong to your differentiation theme. Differentiation and positioining are to be employed in alighment; differentiation is actually the predlude to positioning. Find out the positioinig gaps in the prduct category and the attributes that can fill them in the minds of the consumers. Analyse your competitor·s positions and identify the possible position for your product.
In particular, evaluate the leader·s position; the leading brand that occupies a special position in the consumer·s mind (cadbury·s in choclates); other brands have to necessarily relate themselves in some way to the leader·s position; they cannot ignore the position of the leader, nor wish it away. Decide the locus you seek in the mind so the consumers and the attributes of your offer with which you will secure it.
Relate and link your positioning to your target consumers (for whom it is intended). And ensure that the positioining appeals to them. Segmentation/targeting and differentiation/positining are to be handled in a composite manner. Communicate effectively to the target market the positioing you have chosen. Link your positioning to your value proposition; ensure, it actually from your value proposition
Monitor the positioning as the product picks up. Check whether any variance occurs between your intended positioning and the actual position the consumer assigns to it in his mind. Tackle the variance; go for a new positioing , if required.
WHAT IS PRODUCT POSITIONG AND BRAND POSITIONING?
Where is the new offer going to compete? At what? Which product function/customer need is it trying to meet? What other products categories serve this need? In other words, what are the substitute products that serve the same need? Where is the real gap, where is such a new offer most welcome and wanted by the market? What are the company·s competencies to fight there?
Which are the competing brands in the chosen product category? What are the unique claims/strengths of the various brands? What position do they enjoy in consumer·s evaluation and perception? According to the consumer rating will of the competing brands, is there a wide gap in expecataionsperformance? What kind of product/new/attrtibutes/new funcitons will atract the consumer? What is the most favoured position«and yet vacant? Can the new brand claim the needed distinction and take the position and satisfy that need?
Products do undergo repositioining as they go along their life cycle. In some cases, even products that are faring well are repositioned. This is done mainly to enlarge the reach of the product offer and to increase the sale of the product by appealing to a wider target market. The product is provided with some new features or it is associated with some new uses and is repositioned for existing as well as new target segments.
Milkmaid is a good example of repositiong. When the product was introduced in the sixties, it was positioned as a convenient form of milk for use in tea and coffee. When the sales reached a plateau in the 1980s , the company studied the situation in detail and decided to repostioned it as a product for uses involving milk. A well planned advertising campaign was launched, repositioning milkmaid as an ideal ingredient for a varitey of sweets and other preparations, in addtion to daily use in tea/coffee.
THE BRAND WAS POSITIONED TO APPEAL TO THE TOP 1 PERCENT OF THE URBAN POPULATION IN INDIA DESIGNS WERE WESTERN, SHOWROOMS VERY GLAMOUROUS,AND ADVERTISING TOO SOPHISTICATED THE PRODUCT OFFER WAS PERCEIVED AS TOO ELITIST. NATURALLY, THIS POSITIONING FAILED TO GENERATE THE EXPECTED SALES VOLUME.
TITAN WENT TO THE MARKET WITH 18 CARAT JEWELLERY, THE NORM FOR JEWELLERY IN INDIA IS 22 CARAT. 18 CARAT STUFF COULD NOT BE EFFECTIVELY POSITIOINED AS JEWELLERY. AND THE FACT THAT THE BRAND WAS POSITIONED FOR THE RICH, ELITIES SEGMENT AGGRAVEATED THE MISMATCH. WHY SHOULD THIS SEGMENT AFTER ALL BUY 18 CARAT JEWELLERY? OBVIOUSLY, THERE WAS CONFUSION ABOUT THE VALUE PROPOSITION AND THE PRODUCT ATTRIBUTES, AS WELL AS THE TARGET MARKET AND MARKETING COMMUNICATIONS. THE ADVERTISING AND THE MARKETING CHANNEL TOOK THE POSTIONING TO AN UNINTENDED TARGET.
TITAN HAD TO TOTALLY REWORK ITS STRATEGY FOR THE JEWELLERY BUSINESS. TITAN ADMITTED IN INDIA , THE ENTRY CARD FOR WIDER APPEAL IN JEWELELLERY IS 22 CARAT GOLD, NOT 18 CARAT TITAN CHANGED THE MAJOR PRODUCT ATTRIBUTES. IT INTRODUCED A NEW COLLECTION IN 22 CARAT JEWELLERY. THE DESIGN WAS ALSO MADE MORE INDIAN
TITAN ALSO CHANGED ITS ADVERTISING AND CHANNEL STRATEGY TO MAKE TANISHQUE LESS ELITIEST. THE AIM WAS TO MAKE APPEAL TO A WIDER CLIENTELE, INCLUDING THE UPPER MIDDLE CLASS. WITH THE REPOSITING, THE JEWELLERY BUSINESS NOW CONTRIBUTES 20 PERCENT OF TITAN·S CORPORATE BEHAVIOUR.
THE END
