MKTG 376 Chapter Notes - Chapter 7: Marketing Mix, Psychographic, High Tech
Document Summary
Market segmentation: identify and categorize groups of customers and countries. Targeting: evaluation the segments and focusing marketing efforts. Global market segmentation (gms): homogenous attributes across borders. Demographic segmentation: income, population, age gender, education, occupation. Elite: successful idealists: 5-20%, achieved professional/material success while maintaining commitment to abstract or socially responsible ideals, affluent materialists: status-conscious up-and-comers. Mainstream: comfortable belongers: 25-50%, conservative and familiar, disaffected survivors: resigned, high-crime, inner-city neighborhoods. Behavior segmentation: whether people buy and use, how often/how much, usage rates (heavy, light, nonuser), user status (potential, nonuser. Pareto"s law: 80% of profits from 20% market. Standardized global marketing: mass marketing in a single country, also known as undifferentiated target markets, minimum product adaptation, intensive distribution niche: concentrated marketing differentiated global markets (multisegment): 2 or more distinct target markets with multiple marketing mix offerings. Positioning: differentiate product/brand in minds of target customers: attribute/benefit: economy, reliability, durability 2) quality/price: high quality/price.
