Segmentation%202008S

Segmentation%202008S - Segmenting the Market Caleb Warren...

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Segmenting the Market Caleb Warren Buyer Behavior Fall 2008
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Segmentation Dividing the market into subsets Needs Demographics Psychographics Different marketing strategies for different segments
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Age
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Household Characteristics
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Social Class
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Gender
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Values/Ideology
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Activities
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Interests
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Hobbies
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Habits
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Personality
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Segmenting by Needs Why will consumers buy your product or service? Implication: All segmenting should be need based Why segment the market on anything besides needs?
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Segmenting by Demographics Advantages Disadvantages
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Using demographics poorly e.g. Maine consumers eat lobster and drive snowmobiles. e.g. Oregon consumers eat granola and sing folk songs  about trees.
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Using demographics well Don’t rely on personal intuition representativeness bias Get current information i.e. not this textbook Remember there is a lot of variance within demographic category Understand the biological or cultural differences that lead to observed demographic differences
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Segmenting by psychographics A middle ground between segmenting by needs and demographics
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VALS American Segments
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Segmentation%202008S - Segmenting the Market Caleb Warren...

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