Segmentation: Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.
Targeting: The process of evaluating each market segment's attractiveness and selecting one or more segments to offer.
Positioning: Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target customers.
Food for Thought:
When you think of wheat thins what comes to mind? I see that animated girl bouncing around the television screen happily munching on this light and healthy snack. That is why last week when I saw this commercial I was a bit surprised:
Instead of advertising to the usual weight conscious females, this ad took a stab at converting young men into eating healthier snacks. After watching that video about Levi jeans, I would assume that through segmentation analysis someone in the marketing department saw that there was a hole in the market: men who want to eat healthier snacks.
It seems that doritos, cheetos, and unhealthier snack companies target men in their commercials. I recall a doritos commercial where each bite resulted in the t.v. screen being shaken like an earthquake to emphasize the "crunch."
Wheat thins mimicked this technique of advertising by showing the young man running fast, jumping in the air, and "crunching" up his newly discovered snack.
As I said before, I was surprised of Wheat Thins new target market pick and how they incorporated other unhealthy brands/ snack competition techniques to reach out to this newly found market. They want men to still feel MANLY while eating up Wheat Thins, a snack you usually wouldn't associate with that target market. At least I wouldn't usually make that association.
It is very interesting to see new market segments being targeted!
MKTG 301 E