MKTG 105 - Exam 3 Study Guide

MKTG 105 - Exam 3 Study Guide - Exam 3 Study Guide MKTG6...

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Exam 3 Study Guide MKTG6 – Chapter 8: - strategy for objectives - describe segments - evaluate segment attractiveness - select target market - identify/develop positioning strategy Segmentation: - market: people/organizations with needs/wants and the ability and willingness to buy o segment: subgroup sharing one or more characteristics causing similar needs o segmentations: the process of dividing market into segments - benefits: product features, expense, quality, save time/convenience - criteria: o sustainability o identifiability o accessibility o responsiveness - bases: characteristics used to divide market into segments o geography o demographics o psychographics o benefits o usage rate - buyer characteristics: o demographic characteristics o decision style o tolerance for risk o confidence level o job responsibilities - target market strategies: o undifferentiated o concentrated o multi-segment - cannibalization: sales of new product cut into sales of a firm’s existing products -
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  • Spring '13
  • Collins
  • Marketing, new product cut, promotes particular product, identify/develop positioning strategy

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