Market_Trageting_Robert_A

Market_Trageting_Robert_A - Market Targeting and...

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1 Market Targeting and Segmentation
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2 Market Targeting Definitions Target Market 1 The group of customers (people or organisations) at whom the seller intends to aim its marketing efforts Market Segmentation Market Segmentation dividing a heterogeneous group of buyers into a more homogeneous group with relatively similar product needs.
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3 Market Segmentation Why segment the market? 1. Better service to meet customer needs 2. Compete more effectively and efficiently 3. Achieve organisational goals
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4 Market Segmentation What are the disadvantages to Segmentation? - 1. Increased production costs - 2. Increased promotion expenditures - 3. Increased inventory costs - 4. Increased administration costs
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5 Market Segmentation The Keys to Successful Segmentation? - 1. The segment must be Measurable - 2. The segment must be Accessible - 3. The segment must be Responsive - 4. The segment must be Substantial - 5. The segment must be Defensible
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6 Market Targeting Definitions Market Targeting The act of evaluating and selecting segments and positioning your product
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7 Market Targeting Definitions Market Positioning The place the product holds in the mind of the consumer
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8 The Steps in Market Segmentation, Targeting and Positioning
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This note was uploaded on 06/26/2011 for the course MK 640 taught by Professor Dr. during the Spring '11 term at North Alabama.

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Market_Trageting_Robert_A - Market Targeting and...

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