MT 219 Marketing Unit 4 Seminar

MT 219 Marketing Unit 4 Seminar - MT 219 Marketing Unit...

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MT 219 Marketing Unit Four Segmentation and Targeting Products and Branding Note: This seminar will be recorded by the instructor.
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Review of Unit 3 How did Unit 3 go? Questions or concerns? Instructor suggestions for Unit 4- Pay particular attention to segmentation for the Unit 6 Research Project Questions?
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Customer Driven Marketing Strategy Four stage process that segments, targets, differentiates and positions a product Segmentation- Basic Process: Heterogeneous Market Segmentation Homogeneous Sub-Markets Targeting- Selecting the best segments to focus on Differentiating- Create unique benefits for target segments Positioning- Placing product into customer’s minds compared to competition.
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Target Market Segmentation 1. Identify appropriate strategy 2. Determine segmentation variables 3. Develop segment variables 4. Evaluate segments 5. Select specific segments
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Geographic Variable Climate Terrain City size Urban/rural values Market Density Geo-demographic Segmentation Micromarketing
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Demographic Variables – closely related to needs and measurable Age Gender Race Ethnicity Income Education Occupation Family size Family life cycle Religion Social class Sexual orientation
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Psychographic Variables Social class Lifestyle - Achievers -Strivers -Survivors Personality - Compulsive - Romantic -Authoritarian -Enthusiastic
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MT 219 Marketing Unit 4 Seminar - MT 219 Marketing Unit...

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