FB 2601 Week 6 0910

FB 2601 Week 6 0910 - FB 2601 Week 6 Segmentation,...

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FB 2601 Week 6 Segmentation, Targeting and Positioning (STP)
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Learning Outcomes Explain the criteria for successful market segmentation and the bases commonly used to segment consumer markets Discuss alternative strategies for selecting target markets Explain how and why firms implement positioning strategies and how product differentiation plays a role LO
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3 Market Segmentation LO Market People or organizations with needs or wants and the ability and willingness to buy. Market Segment A subgroup of people or organizations sharing one or more characteristics that cause them to have similar needs (and response to 4P’s) . Market Segmentation The process of dividing a market into meaningful, relatively similar, identifiable segments or groups.
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4 LO The Concept of Market Segmentation
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5 LO Markets have a variety of product needs and preferences Marketers can better define customer needs Decision makers can define objectives and allocate resources more accurately The Importance of Market Segmentation
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6 REVIEW 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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LO Segmentation Bases Characteristics of individuals, groups, or organizations used to divide a total market into segments. (variables)
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FB 2601 Week 6 0910 - FB 2601 Week 6 Segmentation,...

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