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MKT291Ch.9 - 18:34 Chapter9 MarketSegmentation...

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18:34 Chapter 9 When and How to Segment Markets page 189 – 191 through Mass Customization Market Segmentation Aggregates potential buyers into groups that have common needs and will respond  similarly to a marketing action Market Segments The relatively homogeneous groups of prospective buys that result from the market  segmentation process Product Differentiation The strategy of using different marketing mix activities to help consumers perceive a  product as being different and better than competing products One Product and Multiple Market Segments Multiple Products and Multiple Market Segments Segments of One: Mass Customization Steps in Segmenting & Targeting markets p 191-194.   Step 1: Group Potential Buyers into Segments Simplicity and cost effectiveness of assigning potential buyers to segments Potential for increased profits
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