Chapter 8 notes - Chapter 8 Segmentation Targeting &...

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Chapter 8 Market segment- a homogeneous group of customers with similar needs, wants, values, and buying behavior Segmentation- the market can be divided into several groups of people with similar characteristics. These divisions are by no means equal, with segments varying wildly in size and the amount of opportunity they present Target marketing- the selection of specific homogeneous groups (segments) of potential customers for emphasis Positioning- the creation of an image, reputation, or perception in the minds of consumers about the organization or its products relative to competition Product differentiation- makes a product appear unique relative to others, whether produced by the same company or the competition. The difference is in the product, not buyer characteristics (market segmentation) Heterogeneous group- buyers with diverse characteristics Homogeneous group- buyers with similar characteristics Segmentation variable- any descriptive characteristic that helps separate all potential purchasers
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This note was uploaded on 12/04/2011 for the course MKT 300 taught by Professor Gilbertharrell during the Spring '09 term at Michigan State University.

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Chapter 8 notes - Chapter 8 Segmentation Targeting &...

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