MKTG3003_Chapter_07_JZ_LHM_Post

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Insert Chapter Picture Here 1 CHAPTER 7 Segmenting and Targeting Markets Essentials of Marketing Lamb, Hair, McDaniel 6
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2 LO I (1) people or organizations with (2) needs or wants, and with (3) the ability and (4) the willingness to buy A group of people that lacks any one of these characteristics is not a market A Market Is. ..
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33 Market Segmentation LOI 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 product needs Market Segmentation The process of dividing a market into meaningful, relatively similar, identifiable segments or groups
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44 LO u Markets have a variety of product needs and preferences u Marketers can better define customer needs u Decision makers can define objectives and allocate resources more accurately The Importance of Market Segmentation
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55 LO 3 Substantiality Segment must be large enough to warrant a special marketing mix Identifiability and Measurability Segments must be identifiable and their size measurable Accessibility Members of targeted segments must be reachable with marketing mix Responsiveness Unless segment responds to a marketing mix differently, no separate treatment is needed Criteria for Segmentation
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66 LO Usage Rate Benefits Sought Psychographics Demographics Geography Bases for Segmentation
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77 LO 4 Geographic Segmentation § Region of the country or world § Market size § Market density § Climate
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This note was uploaded on 01/20/2011 for the course MRKT 3003 taught by Professor Jim during the Spring '10 term at Tulsa.

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MKTG3003_Chapter_07_JZ_LHM_Post - Insert Chapter Picture...

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