Slide2_2010Fall_MGMT324

Choice of the best alternative that satisfies their

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Choice of the best alternative that satisfies their needs Competition Profit maximization Decisions on 4Ps to make its product/service the best alternative given competition
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Consumer heterogeneity Dynamic perspective Product line consideration 3 C s & 4 P s Extensions
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Segmentation/Targeting Consumer Heterogeneity ( 3 C s & 4 P s Extensions) Segmentation Marketing Mix Product Price Promotion Place Channels Coverage Assortments Locations Inventory Transport List price Discounts Allowances Payment period Credit terms Product variety Quality Design Features Packaging Sizes Services Warranties Returns Sales promotion Advertising Sales force Public relations Direct marketing Targeting
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What is a segment? Segmentation A group of consumers who are similar at some level Homogeneous within a segment but heterogeneous between segments Observable segmentation variables Geographic : Rural/Urban, Region, State Demographic/Scio-economic : Age, Sex, Income, Occupation, Education, Religion Behavioral : Level of usage, Client/Prospect, Loyalty, Responsiveness to marketing mix Psychographic : Attitudes, Interests, Opinions, Lifestyle, Personality
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