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Exam3_Essay - Market Segmentation Traditional o Geographic...

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Market Segmentation Traditional o Geographic and demographic o “Northern or Southern Italy” o Break people down by sex, age, race, etc. Meanings change in each country Women 16-25 are fashionable in US while men 50-65 are fashionable in Japan Psychographic o Lifestyle and personality o “Soccer moms” or technophiles o Similar categories, but meanings are different MD tied to sports crowd In Germany, sports crowd seen as losers Behavioral o Benefits sought and brand loyalty o What do people hope to gain from the product? Prestige from the company’s brand itself o Discover how do people use it differently Baking soda: cookies, fridge deodorizer, deodorant, toothpaste Measurability: if you don’t have a source to figure out size, can’t use it as a segment Accessibility: Because of the Internet, we can target very small groups Reasonability of size: “marketing to India” vs. Vatican City Remittance Strategy Opportunities for outside growth:
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