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Market Segmentation -...

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Market Segmentation, Targeting, and Positioning Markets - Mass marketing. The seller mass produces, mass distributes and mass promotes one product to all  buyers. - Product-variety marketing. The seller produces two or more products that have different features, styles,  quality, sizes, and so on.  - Target marketing. The seller identifies market segments, selects one or more of them, and develops  products and marketing mixes tailored to each. - Micromarketing is a form of target marketing in which companies tailor their marketing programs to the  needs and wants of narrowly defined geographic, demographic, psychographic, or behavioral segments. - The ultimate form of target marketing is customized marketing in which the company adapts its product  and marketing program to the needs of a specific customer or buying organization. Three major steps in target marketing: - Market segmentation (1&2) - Market targeting (3&4) - Market positioning (5&6) 1. Identify bases for segmenting the market 2. Develop profiles of resulting segments 3. Develop measures of segment attractiveness 4. Select the target segment(s) 5. Develop positioning for each target segment 6. Develop marketing mix for each target segment - Market segmentation – dividing a market into distinct groups of buyers with different needs,  characteristics, or behavior who might require separate products or marketing mixes. - Market targeting – evaluating each market segment’s attractiveness and selecting one or more of the  market segments to enter. - Market positioning – setting the competitive positioning for the product and creating a detailed marketing  mix. Market Segmentation
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Bases for Segmenting Consumer Markets - There is no single way to segment a market. - A marketer has to try different segmentation variables, alone and in combination, to find the best way to  view the market structure. Geographic Segmentation - It is dividing a market into different geographical units such as nations, states, regions, countries, cities,  or neighborhoods Demographic Segmentation - It consists of dividing the market into groups based on variables such as age, gender, family size, family  life cycle, income, occupation, education, religion, race, and nationality. - Age and Life-Cycle Segmentation. Consumer needs and wants change with age. Some companies use  this, offering different products or using different marketing approaches for different age and life-cycle  groups.
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  • Spring '02
  • ProfTuro
  • market segments, Rosser Reeves, o Products, Consulting service Personnel Differentiation ­ Companies, Signode Corporation

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