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Aim to dominate a market, not the market

By Andrew Hedley, Director, Hedley Consulting

24 April 2014

Much of modern marketing
strategy is based around the principles of an approach
based on segmentation, targeting and positioning (STP).

Segmentation is the process by
which an apparently heterogeneous market is divided into a series of homogeneous sub-groups or segments, each of which shares a set of distinct characteristics that make the members distinctive in a strategically significant way. Such segment definition may generally be based on specific service or product requirements but will also relate to other issues such as the way in which they go about their purchasing process, geographic, demographic, industry sector or cultural factors.

Apply this principle multiple times and, rather like the interlocking circles of a Venn diagram, the precise make-up of the group which is finally defined at the intersecting core is increasingly unique, since i...

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