F11MKT300_STP

F11MKT300_STP - Segmentation, Targeting & Positioning...

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Segmentation, Targeting & Positioning
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Market segmentation: The process that companies use to divide large heterogeneous markets into small markets that can be reached more efficiently and effectively with products and services that match their unique needs Segment: A relatively homogeneous group of customers who will respond similarly to a marketing mix. Good segmentation= Customers must be as similar as possible within a segment, and as different as possible between segments Market Segmentation
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Ways to Segment Customers (1) Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, or cities (also rural-suburbs, climate, etc) Demographic segmentation divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality Age and Life-cycle stage segmentation Gender segmentation Income segmentation
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Ways to Segment Customers (2) Psychographic segmentation divides buyers into different groups based on social class, lifestyle, or personality traits Behavioral segmentation divides buyers into groups
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This note was uploaded on 12/12/2011 for the course MKT 300 taught by Professor Barnes during the Fall '08 term at Wisconsin.

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F11MKT300_STP - Segmentation, Targeting & Positioning...

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