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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:
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.
International Market Positioning:
The positioning process creates a unique place for the product in comparison to
competitors. Product position summarizes consumer opinions regarding the specific
features of the product. Product position represents what currently exists. Product
positioning states the goal that marketers have in mind. Marketing activities can be
designed to shape a product’s position over time. The airline Virgin Blue in Australia
was perceived by consumers as focused on meeting the needs of leisure fliers, which
constituted the brand’s position. Virgin Blue’s marketers used the product positioning
process to include meeting the needs of business travelers. To create this position, the
company introduced a new business cabin class, and increased its flights on key routes
for business travelers. The marketing goal was to shift the company’s position through
positioning activities.5
Numerous variables influence positioning, including the features of the product,
the price, methods of distribution, packaging, the support services provided, and
interactions with members of the company. Two key elements of product position
are the way customers view the product and the product’s standing relative to
competitors
I can't add more than what mr. Vrindavan has said.
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