Market Segmentation Notes

Market Segmentation Notes - MKTG 3104 Market Segmentation...

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MKTG 3104 Market Segmentation Targeting, and Positioning
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CONTENT OBJECTIVES 1. Understand why and how marketers segment markets 2. Illustrate common bases for segmentation and targeting strategies 3. Analyze criteria for successful segmentation and target segment selection 4. Evaluate alternative ways to position products to target different segments 5. Learn how to read a perceptual map
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MARKET SEGMENTATION DEFINITION Aggregating prospective buyers into groups (segments) so that : 1. customers in the same segment have common needs and respond similarly to a marketing strategy 2. customers in different segments have different needs and require different strategies
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Segmentation Bases 1. Geographic Segmentation Organizational markets Lafarge(building materials) – mature cement market in NE U.S. buys bulk Emerging phillipines market buys bags from retailers 3. Demographic Segmentation Brooks Brothers: Online Luxury Fashion Market by Gender Purchases (3 months) $2401 $1527 Return rate 10% 20% Time spent to buy x 3x How do you target men vs. women? Males left women right
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3.
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Market Segmentation Notes - MKTG 3104 Market Segmentation...

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