Segmentation, targeting and positioning are related activities that are important to achieving a successful marketing mix. Discuss these concepts in theory and provide practical examples of how they can be applied to an industry of your choice. Executive Summary It has been observed since the inception of marketing that marketers only target a specific market and how they identify that market. There are certain criteria or bases that they use to identify the consumers they would serve. Customers have unique requirements, satisfaction levels and aspirations. Some customers however are similar in their needs for goods and services. In that case, if their needs are identified and can be grouped into quantities of a specific size, then it is possible to segment them. Now each customer group has specific expectations and companies must meet the needs of the target segment. Marketing involves activities to find the right people for the company, then attract their attention and retain them for life. There are many theories used by marketers to distinguish their business from the crowd or at least make it visible. To make any business activity efficient and effective, it is important to research the customer's target market. There are mainly three main areas to consider while identifying your target market. These are as follows: Market Segmentation It involves grouping people (customers) into segments who share common needs or will give a common reaction to a marketing event by the company. Toyota's third-generation Prius created a new segment for hybrid cars alongside its competitors. This segment meets the needs of the environmentally conscious buyer. This opened up a whole new avenue… half paper… home delivery. Price: Kingfisher uses a competitive pricing strategy Promotion: Kingfisher follows its slogan in all its campaigns i.e. “King of Good Times” . Since alcohol advertising is banned in most places, Kingfisher uses surrogate advertising methods such as soft drinks and mineral water. It also markets sporting goods and accessories under its own brand (Kingfisher, 2013). ReferencesKingfisher. (2013) retrieved from http://kingfisherworld.com/United Breweries Limited. (n.d.). Annual report 2011-12. Retrieved May 30, 2013, from http://www.theubgroup.com/PDF/UBL_Annual_Report_2011_12.pdfSimkin,L. & Dibb, S., (1975) TARGETING, SEGMENTS AND POSITIONING, International Journal of Retail & Distribution Management,19(3). Stavros P. K, Markos H. Tsogas & Charles B, (2011) "Positioning strategies in corporate markets", Emerald 15, (2000)