Chapter 7 - Chapter 7 Why Erikson, Ikea and Rolex looked...

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Chapter 7 Why Erikson, Ikea and Rolex looked abroad for growth (1) Segmentation o Segmentation is essentially the identification of subsets of buyers within a market that share similar needs and demonstrate similar buyer behavior. o Segmentation aims to match groups of purchasers with the same set of needs and buyer behavior. Such a group is known as a 'segment'. o A company will evaluate each segment based upon potential business success. (2) Targeting o After the market has been separated into its segments, the marketer will select a segment or series of segments and 'target' it/them o The first is the single segment with a single product . In other word, the marketer targets a single product offering at a single segment in a market with many segments. For example, British Airway's Concorde is a high value product aimed specifically at business people and tourists willing to pay more for speed. o
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Chapter 7 - Chapter 7 Why Erikson, Ikea and Rolex looked...

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