 Welcome learners. We are coming to the concluding part of our discussion on market segmentation that is on unit 5 of your marketing management course in your second semester. So, we shall take up the other remaining two learning objectives of unit 5 market segmentation and this particular video would be basically about targeting and positioning. So, in the first two videos we have discussed what marketing market segmentation is all about that market basically is a heterogeneous thing market needs to be grouped into distinct segments that is market segmentation and then each of this segment will have to be addressed by a marketer, the marketer can address those segments by different ways it could be undifferentiated marketing, it could be concentrated marketing like that. So, in this case in this particular video we shall take the remaining two learning objectives one is what is market targeting target market target market we have been talking about conceptually what is market targeting or target marketing and second one is we shall also try to understand the concept of market positioning. This concept of market positioning is very very important because we shall have to understand some other concepts of advertising also in a later course of our MBA program. What is market targeting? Market targeting is basically a process of taking a decision regarding the market segments to be covered to be served a market comprises of different segments we cannot go for covering all the segments in the markets not possible. So, we need to be concerned about which target segment we should be concerned about. So, the marketer distinguishes the market segments major market segments in terms of certain characteristics and targets one or more of these segments and develop products and marketing programs tailored to each selected segment. So, some of the marketers might offer a very low end product at the low end of the market as cheap kind of product. So, later on they might think about upgrading them they will upgrade their quality and according to the price also behind some marketers might think about first targeting at the upper segment with a high quality product highly priced at the high end of the market to the premium segment. Then later on they will reduce the price they will reduce the quality also to some extent and they will make it an acceptable kind of quality may not be very superior quality this is what this is segment mapping. So, they will they will identify the different segments and accordingly they will target which segments to be covered which segments to be served and that is basically target marketing. So, evaluating market segments and target market basically we need to be concerned about the relative attractiveness of the market segment. Each of the market segment will be giving us certain advantages at the same time each of the market segment will be giving us certain challenges also. So, we need to be aware about the relative attractiveness of the market segments then we should also be able to identify our own ability to what extent we are able to identify our quality. Suppose we are thinking of launching a very premium quality product at a very premium price but may not be we may not be that equipped with our quality parameters. So, we need to upgrade our production facilities we need to upgrade our quality monitoring mechanism we need to upgrade our research and development then only possibly will be able to that. So, in that case identify very very premium segment at this point of time may not be feasible for us. So, we need to identify what could be the relative attractiveness of the market segments and if the segments are attractive whether are we in a position to serve those segments or not that needs to be seen. Now, the relative attractiveness of the market segments which segment is likely to be attractive for us we need to see that particular thing based on certain characteristics what could be those things one could be the size of the segment if the size of the segment is very very large in that case we can think about segmenting that particular large segment into some sub segments or maybe that that large segment might be having different players also in that market. What is the growth rate of the segment say in today's context say educational technology is a high growing product it is not it eating out say Uber Eats or say many people are going to have like a non-home food that is a growing demand is not it. But corona has jeopardized some of the marketing mix that we have been having so far but still we can identify certain pattern in which the certain segments the growth rate we can observe. If the growth rate of the segment is high the size of the segment is good sizeable and the segment is to some extent non-price sensitive that even if we increase the price the segment will still by means loyalty is there to some extent and the national competition is not that intense there is no entry barrier anybody can enter the market and anybody can make an exit also from the market and there is a social trend as I have told you say eating out or say going outside or having non-home food right procured at the home home only or could be political issues suppose a GST etcetera right there in certain segment there could be some tax exemption we can identify those segments. So means after identifying the segments we need to evaluate the worth of the segment in terms of their size in terms of their growth in terms of their preference in terms of their price sensitivity in terms of the political aspects in terms of the social aspects we shall be able to identify the segment in terms of their attractiveness we need to assess that then we need to assess our own ability are we in a position to serve those segments. So a segment may be very profitable as I have told you say premium segment with high price product with high high quality products may be very profitable but we may not be able we are as of now we may not be able to serve that particular segment. So a segment may be profitable but it may be difficult to serve effectively due to lack of resources and competencies a company should be a company should be very sure that it has the required resources such as exploitable marketing assess research and development capacity cost advantage technologically is compared to others or say it has got a management capacities factories to produce those kind of things marketing distribution facilities logistics facilities commitment of its sales post it will have to see all these aspects whether it is able to satisfy the segment or not then we cover come to the other aspects of this particular say that is market positioning how do we position the our products in the market because the market has got different competitors each of the competitors say got this is having its own easy products such a treasure market even say hindu sun universe has got its own rain surf say why different products sunlight okay detergent so each of these is different so how are they going to position each of this in a market so each of this is positioned in terms of certain benefits that it is going to serve to the target customers and ultimately customers develop certain position perception say Goddrey Gigi is only for ruling governments but you can watch some other quotes also with Goddrey Gigi but the perception that has been created by the marketing communication and that has been set by the user's experiences is that it is an image that the customers buy customers positive perceptions ultimately will be speaks the responsibility of the marketer we need to create a positive perception in the minds of the customers about a particular product and the marketer should decide clearly the perceptions that it needs to be built in the target customers man because ultimately positioning will take place in the psyche of the customer the customer will think about a particular brand and the customers will act according to that perception so positioning is creating that perception in the minds of the customers so we can in this context right now dear learners you can refer to some of the standard definitions of positioning in your study material Philip Kotler the way of marketing here's defined positioning is the act of designing a company's offered an image so that it occupies a distinct and valued place in the target customers so air India right the Maharaja logo like that kind of things that air India is different from say spice jet spice jet is different from say air India custom the air patients will take certain positioning will develop certain perception about that product that marketer should be highly concerned about that positioning positioning is the art of selecting out of a number of unique selling propositions so say God is easy detergent I have been giving the example is for woolen products for the products which require an extra care is unlike the other detergent Coca-Cola is defined from Pepsi Cola and Cola it's not Coca-Cola it's not Cola Pepsi Cola Coca-Cola it's not Cola it's and Cola that is a distinct positioning so the most important decision you will make about your product is how should I position my product so this is the definition given by David or he'll be is the father of creative advertising so positioning strategies could be reference based on product attributes say toothpaste some other toothpaste could be for dental care some other toothpaste could be for dental say cavity or some other toothpaste could be for jump fighting so based on product attribute we can think about a positioning we can think about the benefits that the products are going to give or it could be based on the users occasion say it's a morning product it's an evening product like that say contracts is a breakfast product or say Maggie two minutes novels is an afternoon snack something like this so it's based on users occasions it could be for certain classes of users say certain classes of users this could be on the demographic variables say working women time-pressed so they for them say health difference or it could be directly against a competitor say Coca-Cola is defined from Pepsi Cola the positioning or it could be positioning away from competitors say and cola we are not for Pepsi Cola we are not against Coca-Cola also we are a different category altogether or it could be for different product classes say for extra safety Godres lock for say domestic users who say Godres not the lock so depending upon the class of the users depending upon the unique requirements of the buyers so the marketers might think about coming across with different kinds of products so positioning also the marketers are ultimately will have to decide about in different upon a number of plants on which plant the product we have to be positioned and all this basically based on market segmentation to what extent we are capable of segmenting a market identifying the market and then after identifying whether we are able to serve that market if we are able to serve that market how should we serve that market that is basically positioning so my dear learners you read the unit and you'd be able to understand the concepts better thank you I will see all the best