MMK101 Lecture Notes - Lecture 3: Psychographic, Rolex, Aldi
Document Summary
Most companies have moved away from mass marketing and towards targeting marketing identifying market segments, selecting one or more of them and developing products and marketing programs tailored to each. Buyers in any market differ in their wants, resources, locations, buying attitudes and practices. Segmentation allows companies to divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively. There is no single way to segment a market. A marketer has to try different variables, alone in combination to find the best way to view the structure. Geographi(cid:272) seg(cid:373)e(cid:374)tatio(cid:374) = (cid:374)atio(cid:374)s, regio(cid:374)s, states, lga"s, (cid:374)eigh(cid:271)ourhoods, (cid:272)ities. Demographic segmentation = age, gender, income, occupation, family size, education, religion, nationality/ethinicity. Psychographic segmentation = social class, lifestyle or personality characteristics, ses. Behavioural segmentation = knowledge, attitudes, uses, responses to products, usage rate. This is the starting point for building market segments.
