MKTG 2201 Chapter Notes - Chapter 6: Competitive Advantage, Dreft, Pearson Education
19 Mar 2017
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Document Summary
Geographic- dividing a market into different geographical units. Demographic- dividing a market into segments based on variables such as: Psychographic- the products people buy reflect their lifestyles. Nations, regions, states, counties, cities, neighborhoods, population density (urban, suburban, rural), climate. Age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, generation. Occasions, benefits, user status, usage rate, loyalty status. Demographic segmentation: age and life-cycle segmentation- dividing a market into different age and life-cycle groups, gender segmentation- dividing a market into different segments based on gender, income segmentation- dividing a market into different income segments. Segmenting international markets: variables include, geographic location, economic factors, political and legal factors, cultural factors, intermarket(cross-market) segmentation: grouping consumers with similar needs and buying behaviors irrespective of their location. Requirements for effective segmentation: measurable- the size, purchasing power, and profiles of the segments, accessible- the market segments can be effectively reached and served, substantial- the segments are large or profitable enough, differentiable- conceptually distinguishable, actionable.
