Marketeting2 - Market people or organizations with needs or...

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Market- people or organizations with needs or wants and with the ability and the willingness to buy Market segment- a subgroup of people or organization who share one or more characteristics that cause them to have similar wants or needs. Market segmentation- diving the group in to identifiable segments as to tailor mixes to specific groups. Segmentation scheme must be 1)substantial, 2) identifiable and measurable, 3) accessible and 4) responsive Segmentation bases/Variables- the characteristics used in market segmentation Geographic- segmentation by region or country, climate, market size, and/or market density Demographic- segmentation by age, gender, income, ethnicity, and family life Psychographic segmentation- segmentation based on personality, motives, lifestyles, and geodemographics Benefit segmentation- grouping customers together by the benefits they seek from a product. Usage-rate segmentation- divided by how much a customer consumes of a product. 80/20 principle: twenty % of all customers generate 80% of the demand. Company segmentation characteristics: geographic location, type of company, company, size, and product use. Satisficers- a purchasing profile that tend to contact familiar suppliers and place the order with the first one to satisfy product and delivery needs Optimizers- a purchasing profile that consider numerous suppliers, solicit bids, and study all profile thoroughly before purchasing. Steps to developing successful marketing plans:
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This note was uploaded on 03/30/2008 for the course MKTG 221 taught by Professor Santaronenichola during the Spring '08 term at Penn State.

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Marketeting2 - Market people or organizations with needs or...

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