MKT 320F 1-28 Notes - -homogeneous (narrow) product markets...

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1/28/08 Foundations of Marketing Notes Study #3 and Study #4 sign ups are posted online at mccombs.sona- systems.com Available: - Feb 14  or 15 - Feb 18 or 19 Naming Product Markets and Generic Markets - Product type Type of good or service offered that should meet customer needs - Customer needs - Customer types Who is using the product? - geographic area where the market is actually located Search for Opportunities Can begin by Understanding Markets     Narrowing down to specific product-market - All customer needs  - Some generic market  - One broad product-market Segmenting into possible target markets
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Unformatted text preview: -homogeneous (narrow) product markets Selecting target marketing approach-single target market approach-multiple target market approach-combined target market approach Segmentation: clustering people with similar needs into individual marketing segments Marketing Segmentation defines possible target markets-broad product market (or generic market) name goes here (the bicycle-riders product market) Submarket 1 (Exercise) Submarket 2 (off-road adventurers) Submarket 3 (transportation riders) Submarket 4 (Socializers) Submarket 5 (Environmentalists)...
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This note was uploaded on 04/06/2008 for the course MKT 320F taught by Professor Miller during the Spring '08 term at University of Texas at Austin.

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MKT 320F 1-28 Notes - -homogeneous (narrow) product markets...

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