Feb 04, 2008 - Marketing Continued: Lecture: Monday...

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Marketing Continued: Lecture: Monday February 4th 2008 Key Points from Last Class Marketing Concept #1 Key – provide unique benefit Target Market o Market Segmentation Lecture: Resources: Personality traits and key demographics. The level of resources enhances or constrains a person’s expression or his or her primary motivation Ideals: Guided by knowledge and principles Achievement: Look for products that demonstrate success Self-Expression: Desire social or physical activity, variety and risk 1. Thinkers : Look for durability , functionality and value Believers: Choose familiar products and established brands Achievers: Favour established prestige products that demonstrate success Strivers: Favour stylish products that emulate the purchases of wealthier people Experiencers: Emphasize looking good and "cool" stuff Makers: Prefer value to luxury, they buy basic products Innovators: Taste for upscale, niche products and services; Influential and important Survivors: Loyal to favourite brands, especially if they can purchase them at a discount
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1. Cross-Cultural Consumer Characterisation 4Cs Values Characterisatio n Enlightenment Reformer Discovery Explorer Control Succeeder Status Aspirer Security Mainstream Escape Struggler Survival resigned Determine which of the segments will be the target market By finding the biggest gap between how the customer perceives the competition meets their needs ( perceptual map ) and what they want ( preference analysis ) Steps: o Draw axes that represent the relevant dimensions by which people
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This note was uploaded on 01/11/2012 for the course BIOL 2021 BIOL 2021 taught by Professor Pat during the Fall '10 term at York University.

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Feb 04, 2008 - Marketing Continued: Lecture: Monday...

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