Marketing chap 9

Marketing chap 9 - Target Marketing Process: 1. Segmenting:...

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Target Marketing Process: 1. Segmenting: identifying and describing the various market segments 2. Targeting: evaluating and selecting the most attractive market segment or segments 3. Differentiation: creating a unique product designed to go after the needs of the target market 4. Positioning: placing or positioning the offer in the mind of the consumer Segment by geography – country-McDonalds-different menus -climate, LLbean Segment by demographics – gender-clothes, magazines -life stage-products ascend or descend in importance Segmenting by Psychographics : goes beyond age and income, looks at richer descriptions, psychographics looks at activities, interests of consumers that may appear to be statistically similar, but are NOT, they have different needs Segmenting by behavior : slices consumers on the basis of how they act, feel about, or use a product. 1. User status: Users – first time users vs regular users Non-users – never before tried product or ex users 2. Usage rates – heavy, moderate, light users – 80/20 rule = 20% of purchasers account
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Marketing chap 9 - Target Marketing Process: 1. Segmenting:...

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