MKTG101 Lecture Notes - Lecture 6: Market Segmentation, Qantas, Telstra
4 Aug 2018
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Document Summary
A group of customers with heterogeneous needs and wants. Consumers and businesses vary considerably in they needs, wants and demands, and it is virtually impossible for an organisation to successfully appeal to every consumer or business. Subgroups within the total market that are relatively similar in regards to certain characteristics. Many organisations target both b2c and b2b, but apply di erent strategies to each sector. ; qantas - business and economy; energy companies (electricity, gas) A single product will meet the needs of most people in the market, with an undi erentiated approach. Producing large volumes at a low cost per unit (due to economies of scale") makes it possible to sell at a low price and capture very large markets, ensuring high levels of pro tability. Characteristics of commodity products e. g. salt and global mass market products e. g. blank cds, bandages, pharmaceuticals. Providing a unique, customised o ering to meet individual customer needs.
