Question

Pls provide answers to the following question in paragraphs and more than one page. Thanks

What is the market segmentation plan?

What are the steps in developing Brand Identity?

What is the importance of Brand image and Brand Identity in developing segmentation plan and value proposition?

Answer 1

Market segmentation plan comprises of segmentation or bifurcation of markets based on certain attributes to devise customised localised marketing campaign.

The segmentation is divided into following four types:

1. Geographical - Based on customer locations like urban or rural, region, district, city, country, etc
2. Behavioural - Based on willingness to buy, loyalty, purchasing power, brand affinity
3. Demographic - Based on Age, gender, ethnicities, occupation, socio economic classes
4. Psychographic - Based on personality, life style, attitudes and class.

Brand identity development stages prescribed as below:

1. Build brand positioning as per business goals
2. Market user research
3. Build brand logo, theme, vision based on ideology
4. Build visual elements
5. Build corporate credibility
6. Conduct integrated marketing campaign
7. Build Reinforcement and repetition
8. Generate feedback
9. Finalise testing and planning
10. Complete commercial launch.

Brand image and brand identity help organisation generate positive word of mouth, high top of mind recall, higher sales proliferation, better customer experience, higher brand credibility, higher brand resonance, which all in all help in targeting right user base through segmentation and thus helps build value proposition in long run.