Reflections for Week 4

The focus for Week 4 be STDP (Segmentation, Targeting, Differentiation, and Positioning) for selecting the consumers which are most beneficial to the firm.

Questions and Considerations for your Learning Journal.

1.    How does segmentation facilitate consumer obsession?

Obsession requires focus on certain segments since the resources for a firm are always limited.  Segmenationtation facilitates consumer obsession be better meeting the consumer’s needs within certain segments. Segmentting the market provides better solution that fits consumer than looking at the potential market as a whole and trying to broadly satisfy all the consumers within it. The company I work for segments our markets in large into consumers’ business unit and commercial business units. This allows for offering more complete solutions to consumers’ needs and to facilitate consumer obsession.

2.    When a firm chooses a particular segment for targeting what are its primary considerations?

The primary considerations for a form choosing a particular targeting segment is maximizing its profit. To do this, the firm need to understand completely the customers in this sement, its competition and make sure this segment fits the firm’s products the best. As indicated in the HBR article (Page 83), the key to target market segment selection is understanding differentiation. The data collecting could be in the following 5 areas: a. ability to conceive and design; b. ability to make; c. ability to market; d. ability to finance; and e. ability to execute.

3.    What is positioning?  Where does a firm's position reside. 

Positioning is defined as the marketer’s effort to identify a unique selling proposition for the product or products. It is arranging for a product to occupy a clear, distinctive, and attractive position relative to competitor’s products as the perspective of target consumers.

4.    Think about a couple of companies competing in the same space with different segment focuses.  Discuss these firms and their various approaches.  Why are they different?

One market with companies competing in the same market but with different segment focuses is the TV market. Both Samsung and Vizio are in the TV market, but play in total different segments. Samsung, along with other companies, market its products on high end market. Vizio is positioning its product on low cost.

Updates on tasks:

Finished Readings: 1. The HBR article on page 83:  Market Segmentation, Target Market Selection and Positioning.  2. Chapter 4; 3. Page 39:The Fashion Channel. I need to re-read this article for a better understanding these data.

Finished watching:  My Camtasia Video discussing STDP. It is very helpful in helping me understanding the STDP.