SEGMENTATION,  TARGETING AND POSITIONING :



Market segmentation   

Market segmentation involves grouping your various customers into segments that have common needs or will respond similarly to a marketing action. females  Each segment will respond to a different marketing mix strategy, with each offering alternate growth and profit opportunities.

Target markets are groups of individuals that are separated by distinguishable and noticeable aspects. and Lakme sunscreen focuses on targeting a particular segment of girls and women. 

Some different ways you can segment your market include the following;

• Demographics which focuses on the characteristics of the customer. For example age, gender, income bracket, education, job and cultural background. The lakme sunscreen lays emphasis on its market which basically includes girls and women aged between 15 years of age to 45 years of age.

• Psychographics which refers to the customer group's lifestyle. For example, their social class, lifestyle, personality, opinions, and attitudes of the females.

• Behaviour which is based on customer behaviour. For example, online shoppers, shopping centre customers, brand preference and prior purchases.

• Geographical location such as continent, country, state, city that the customer group resides.
  

Targeting

After segmenting the market based on the different groups and classes, you will need to choose your targets. No one strategy will suit all consumer groups, so being able to develop specific strategies for your target markets is very important.

There are three general strategies for selecting your target markets:

• Undifferentiated Targeting: This approach views the market as one group with no individual segments, therefore using a single marketing strategy. 

• Concentrated Targeting: This approach focuses on selecting a particular market niche on which marketing efforts are targeted. 

• Multi-Segment Targeting: This approach is used if you need to focus on two or more well defined market segments 

Prior to selecting a particular targeting strategy, you should perform a cost benefit analysis between all available strategies and determine which will suit your situation best.

Positioning

Positioning is developing a product and brand image in the minds of consumers. It can also include improving a customer's perception about the experience they will have if they choose to purchase your product or service.
Lakme positions its product in the minds of girls and women and has build an image for its brand and doing well in the market.