MKT 280 - Ch 10 - Fall 2007

MKT 280 - Ch 10 - Fall 2007 - Chapter10 Overview...

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    Chapter 10 Developing a Target Market Strategy
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    Overview Segmenting markets Why segment What factors to consider when segmenting Selecting the target market Use segmentation information to select the  most attractive segment to target.
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    Definition Slide Market: All of the buyers of a particular  product class.  Housing market, automobile market… Market segmentation: Dividing the market  into similar groups based on relevant  factors. Target market: A group of consumers that  the company focuses its attention on for  sales.
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    Why Segment the Market? Most markets are diffused. Even mass market brands have target  segments Wendy’s vs. McDonald’s More demanding consumers
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    Market Segmentation Process DIVIDE MARKETS ON RELEVANT DIMENSIONS DEVELOP PRODUCT POSITIONING DECIDE SEGMENTATION STRATEGY DESIGN MARKETING MIX STRATEGY DELINEATE FIRM’S CURRENT SITUATION
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    Delineate firm’s current situation
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This note was uploaded on 10/13/2010 for the course MKT B280 taught by Professor Lawrence during the Fall '08 term at Loyola New Orleans.

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MKT 280 - Ch 10 - Fall 2007 - Chapter10 Overview...

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