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Chapter 9 marketing

Chapter 9 marketing - 4 Ways to segment markets – a...

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Chapter 9 1. Market segmentation – aggregating prospective buyers into groups/segments. Relatively homogeneous groups, common needs, respond similarly to a marketing action 2. Segmentation and product differentiation – using different marketing mix activities to help consumers perceive product as being different and better than competing products. Provide different offerings. Use marketing mix differently. 3. Segments link market needs to marketing actions. a. Identify marketing needs; b. Link needs to actions – group all potential buyers, group products, develop market product gride, select target markets, take marking actions to reach target markets c. Execute marketing program actions
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Unformatted text preview: 4. Ways to segment markets – a. Geographicly b. Demographically c. Psychographic – personality, lifestyle, needs, birds of a feather. . d. Behavioral – purchase behavior 5. Market product grid – framework that relates market segments of potential buyres to products offered or potential marketing actions. Estimate market seize for each market product combination 6. Positioning product a. Head-to-head: competing directly with competitors on similar attributes b. Differentiation – distinguishing product as different 7. Perceptual maps – displaying/graphing in two dimensions location of product/brand in minds of consumers vs competitive offerings...
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