MARKET SEGMENTATION, TARGETING AND POSITIONING

INTRODUCTION: The market for any product is normally made up of several segments. A market after all is the aggregate of consumers of a given product.And, consumer (the end user)

MARKETING STRATEGY AND MARKET SEGMENTATION: When it comes to marketing strategies, most people spontaneously think about the 4P (Product, Price, Place, Promotion) maybe extended by three more Ps for marketing services (People, Processes, Physical Evidence).

ATTRIBUTES OF EFFECTIVE SEGMENTATION

Identifiable Accessible Sizeable Profitable Unique needs Durable Measurable Compatible

MARKET TARGETING MARKET TARGETING

INTRODUCTION: There was a time when finding the best customers was like throwing darts in the dark. Target marketing changed all that...Today's savvy marketers know that finding their best prospects and customers hinges on well thought out targeted marketing strategies.

MARKET TARGETING
Distinguishable. Measurable. Sizable. Accessible. Growing. Profitable. Compatible with the firm s resources.

PRICING STRATEGY
"The dealers must have met their targets in December itself, so they took it easy in January," he explains. Were it any other company, the managing director's insouciance would appear to border on foolhardiness. But this is LG, a company that can afford to take it easy.

PRICING STRATEGY
Even after the blip in sales in January -- LG's marketshare in refrigerators fell fractionally from 28.6 per cent the previous month to 28.1 per cent -- the Korean consumer electronics brand is still the preferred white goods brand in India -across categories and sub-categories. Whether it is refrigerators, air conditioners, washing machines or colour televisions -- LG's dominance over the white goods market is complete.

Marketing Mix
Product, price, placement, and promotion are known as the 4 P s in marketing. These four elements, in turn, make-up what is known as the marketing mix. Neil Borden, a Harvard professor, first coined the term marketing mix in an article in the Harvard Business Review. Mr. Borden used the term to describe the various essentials that were needed to come together to produce what would be an effective marketing plan. The successful manipulation of these elements will serve to produce the greatest number of sales. In this paper the author will describe the various elements, and give an example of the use of these elements.

Marketing Mix
The Marketing Mix The purpose of the marketing mix is the sectioning of a business into pieces that can be re-arranged and tweaked dependant on the needs of the customer. Knowing what a customer wants allows a company to identify opportunities. These opportunities in turn will expose any shortcomings or advantages. With this information the company can now match what is feasible and what is not. Moreover, the organization can now focus on a specific segment of the market (Scott, 2005). The geographic factor, such as what countries or regions a company wants to market is another consideration. That along with the demographics: population size, traits, and family size are other factors that need to be addressed (Kermally, 2003).

PRODUCT LIFE CYCLE

Manage your entire product lifecycle to provide what customers want when they want it PLM Consulting Service LG CNS PLM Consulting Service provides effective assistance for client vision and business goals, establishment of R&D informatization strategy to achieve competitiveness in the product development sector. Integrated Product Development Information Management Service LG CNS Integrated Product Development Information Management Service provides coherent and total product information through engineering tool integration, CAD and technical document management, BOM management, and engineering change management.

 Our approach LG CNS simultaneously implemented the specialized system per process that assists in the core development process and the common principal functions supporting in the whole process. LG CNS PLM Service provided standardized product development processes, accumulation and share of engineering knowledge, systematic management of main implementation output documents, and assistance in collaborative product development.

MARKETING CHANNELS
Distribution Channels Developers can take advantage of business opportunities through several LG distribution channels. Once an application has been accepted by LG, the application will have the opportunity to be distributed through the following distribution channels. The channel through which your application is distributed is determined by LG according to its content type. LG World The LG World is an online store that offers a wide range of applications and mobile content to enhance user s mobile experiences. It is available in 23 countries, supports about 200 phone models and offers more than 3000 mobile applications.