Since there are no options to go with, I cannot choose every correct answer! Although I have Found some things that might help!
The segmentation, targeting, and positioning process is a strategic marketing approach that involves the following steps:
- Market Segmentation: This step involves dividing the market into distinct groups of customers with similar needs and characteristics. The goal of this step is to identify different segments that a business can serve in the market.
- Target Market Selection: Once the market is segmented, the business must decide which segments to target based on their attractiveness and the business's ability to serve them. This step involves evaluating each segment's size, growth potential, competition, and profitability.
- Positioning: This step involves developing a unique brand identity and image that sets the business apart from its competitors in the minds of the target market. The goal of positioning is to create a distinct and desirable image of the product or service in the mind of the consumer.
- Marketing Mix: This step involves developing a marketing mix strategy that includes product, price, promotion, and place (distribution) that is tailored to the needs and preferences of the target market. This strategy is designed to create value and meet the needs of the target market in the most effective and efficient way possible.
Overall, the segmentation, targeting, and positioning process is critical in helping businesses understand their customers and develop a marketing strategy that meets their needs and expectations while remaining competitive in the marketplace. Hope this helps!