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Final

MKC3140 Final:Premium

2 pages86 viewsSummer 2018

Department
Business - Marketing - MKC
Course Code
MKC3140
Professor
Felix
Study Guide
Final

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MKC3140 Notes
Discriminant and Classification Analyses
Discriminant and classification analyses are multivariate statistical
techniques used to determine how segments of consumers differ
in their characteristics
When to use:
To classify a large set of customers into small sub-groups that
have different characteristics
To predict or classify which sub-group a new customer belongs to,
so as to better target marketing activities
Targeting
n A market needs to select segments to target based on certain
selection criteria
¡ Market attractiveness (size, growth rate, price sensitivity,
etc.)
¡ Competitive strength (captures the relative strength of a
firm, versus competitors, at securing and maintaining market
share in a given segment)
n Uses all three Cs as input: customer, company, and competitors
n An ideal target segment should meet six criteria:
¡ Based on customer needs (customer care)
¡ Different than other segments (little crossover competition)
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