KIC000059 - r Chapter 7 Segmenting and Targeting Markets...

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Unformatted text preview: r------------------------------------------------------------------------ Chapter 7 Segmenting and Targeting Markets • The Concept of Market Segmentation Explain the importance of market segmentation " "Y _ .. .....,.c....... '-no""', .....""_ The Importance of Market Segmentation • Markets have a variety of product needs and preferenc:es • ~. ",_ __~.c........"""_ ,.,. ". LO' REVIEW LEARNING OUTCOME The Importance of Market Segmentation Marketers can better define customer needs • ~ ~~.~l Decision makers can define objectives and allocate resources more accurately [LO'] Criteria for Segmentation fiB -,:i~,~i"",,,k:' ,Li:, ",;~,:~"",,~~ Discuss criteria for successful market segmentation _ __ ,,'----------" .. --.. ......... _- Identlftabillty,(,!ij cand!fuMe~-:,a~~~ ~_ .......l.oo,_""."''''",_ • 2 Chapter 7 Segmenting and Targeting Markets • LO' REVIEW LEARNING OUTCOME Successful Market Segmentation Useful segment? o 61l' I!I l!:J Describe the bases commonly used to segment consumer markets Substantial Identifiable Accessible and measurable Responsive Then, yes: Useful segmentation Bases for Segmenting Consumer Markets scheme LO' Bases for Segmentation -. • _"' __ '-"""~,"''''''''- Geographic Segmentation • Region of the country or world • Market size • Market density • Climate ,~- Benefits of Regional Segmentation • Newways to generatesalesin sluggish and competitive markets • Scanner data allow assessment of best selling brands in region • Regional brands appeal to local preferences • Quicker reaction to competition [LO'] • c.... ", _eoooo_'-""' ...... ........ ""' 3 ...
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This note was uploaded on 09/01/2011 for the course MTK 340 taught by Professor Folger during the Spring '11 term at Iowa State.

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KIC000059 - r Chapter 7 Segmenting and Targeting Markets...

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