Chapter 8 - Segmenting and Targeting Markets Marketing...

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Chapter 8 1 Marketing 8 CHAPTER Segmenting and Targeting Markets
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Chapter 8 2 Learning Outcomes Describe the characteristics of markets and market segments Describe the bases commonly used to segment consumer markets Discuss alternative strategies for selecting target markets Explain one-to-one marketing Explain how and why firms implement positioning strategies and how product differentiation plays a role LO LO LO LO LO
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Chapter 8 3 Describe the characteristics of markets and market segments Market Segmentation Market Segmentation LO
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Chapter 8 4 Segmentation, Targeting, and Positioning
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Chapter 8 5 Market Segmentation LO Market Market Segment Market Segmentation People or organizations with needs or wants and the ability and willingness to buy. A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. The process of dividing a market into meaningful, relatively similar, identifiable segments or groups.
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Chapter 8 6 The Importance of Market Segmentation LO Market segmentation More precise definition of customers needs and wants More accurate marketing objectives Improved resource allocation Better marketing results
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Chapter 8 7 Criteria for Segmentation Substantiality Identifiability and Measurability Accessibility Responsiveness Segment must be large enough to warrant a special marketing mix. Segments must be identifiable and their size measurable. Members of targeted segments must be reachable with marketing mix. Unless segment responds to a marketing mix differently, no separate treatment is needed.
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8 REVIEW LEARNING OUTCOME LO Useful segment? Substantial
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This note was uploaded on 05/03/2010 for the course MKTG 201020 taught by Professor J.j during the Spring '10 term at Northeastern.

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Chapter 8 - Segmenting and Targeting Markets Marketing...

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