MARK 453 Lecture Notes - Lecture 4: Market Segmentation, Middle Age, Psychographic

• School: Concordia University
• Department: Marketing
• Course: MARK 453
• Professor: Caroline Roux

Document Summary

6 steps: communication research, target market, product positioning, objectives, budget, imc tools. Understand: product sold, benefits > attributes, potential buyers, usage > segments. Tip: book example p. 93 + caroline roux recommendations: product-specific: to be effective: beyond understanding attributes or characteristics. Cardio, fat burning, muscle building, flexibility: consumer-oriented research: assist marketers in identifying the context of a product"s use. Feel more attractive, being able to be active without being out of breath: target-market research: identifies who will be the recipient of the campaign. Identify specific purchasing groups based on their needs, attitudes, and interests. Market segment: a set of businesses or group of individual customers with distinct characteristics. Criteria 7: demographics, gender, age, income(&education closely related) , ethnicity, etc. Gender: present the opp. to match a product with a large category of individuals. Same products after being influenced by different kind of appeals through the media. Women control 66% & trillion of the world"s annual consumer spending.