Market Segmentation, Targeting, And Positioning For Competitive Advantage

Segmentation, targeting, and positioning are marketing tools used by a company to gain competitive advantage in the market. They help the company to differentiate its product offering from that of its competitors and ensure that the same reaches the exact market profile for which it is intended. Market segmentation is the process of dividing the market into similar groups according to the characteristics intended for the product at hand. Targeting is the process of selecting the most lucrative market segments for marketing the product. Positioning involves the formulation of a definitive marketing strategy around which the product at hand would be finally marketed amongst the target audience.

MY OPINION:
following are the tools for designing a customer driven marketing strategy that plays a vital role in determining the market share for a company's product or service.