S12%20MKTG%203104%20%209%20Segmentation%20and%20Targeting

S12%20MKTG%203104%20%209%20Segmentation%20and%20Targeting -...

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1/31/2012 1 MKTG 3104 Market Segmentation Targeting, and Positioning 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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1/31/2012 2 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 A GOOD SEGMENTATION ALSO HAS: 3. a cost effective way to assign buyers to segments 4. potential for profit increase (i.e. it creates at least one attractive target segment) Segmentation Bases 1.Geographic Segmentation 2. Demographic Segmentation Brooks Brothers: Online Luxury Fashion Market by Gender Purchases (3 months) $2401 $1527 Return rate 10% 20% Time spent to buy x3 x How do you target men vs. women?
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