ib_p04_videowkshop - Psychographic Behavioral No single way...

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Click to edit Master subtitle style Marketing 101 Professor William Falls Summer B
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Click to edit Master subtitle style Market Segmentation William Falls, Consultant
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What Is Marketing? Simple Definition: Marketing is managing profitable customer relationships. Goals: 1. Attract new customers by promising superior value. 2. Keep and grow current customers by delivering satisfaction.
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What Is a Market? § The set of actual and potential buyers of a product. § These people share a need or want that can be satisfied through exchange relationships.
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Marketing Management § Designing a winning marketing strategy requires answers to the following questions: 1. What customers will we serve? What is our target market? 2. How can we best serve these customers? What is our value proposition?
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§ Market Segmentation: Divide the market into segments of customers § Target Marketing: Select the segment to cultivate
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Market Segmentation § Key variables: Geographic Demographic
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Unformatted text preview: Psychographic Behavioral No single way to segment a market. May combine more than one variable to better define segments. Click to edit Master subtitle style Market Segmentation Variables Geographic Demographic Psychographic Behavioral Market Segmentation Geographic: World region or country Region of country City or metro size Density or climate Market Segmentation Demographic: Age, gender, family size, family life cycle, income, occupation, education, race, religion, etc. The most popular bases for segmenting customer groups. Easier to measure than most other types of variables. Market Segmentation Psychographic: Social class Lifestyle Personality Market Segmentation Behavioral: Occasion segmentation Special promotions and labels for holidays. (e.g., Hershey Kisses) Special products for special occasions. (e.g., Kodak disposable cameras)...
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ib_p04_videowkshop - Psychographic Behavioral No single way...

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