MKTG13-302 Lecture Notes - Lecture 2: Psychographic, Railways Act 1921, Mass Marketing
15 Jun 2018
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Week 2
Ted Talk watch this
• 3 ways to lose control of your brand
Co-creation of value
• Consumers and marketers create value – creating value
through customers
o Where consumers advocate for brand loyalty and
value
• If the marketer created value it will not resonate with
the customer
Segmentation
• Heterogeneity – as everyone is diverse and different you
cannot do the same thing because not everyone is going
to be equally satisfied with the same service
• Benefit segmentation
o Grouping of consumers on the basis of attributes
sought in a product
• Behaviouristic segmentation
o Understanding the consumer and dividing them
into group according to their usage, loyalties or
buying responses
• Psychographic
o Customer attitudes, values, behaviours, emotions,
perceptions, beliefs and interests.
• Demographic
o Gender, age, income, housing type, education
level, social classes
find more resources at oneclass.com
find more resources at oneclass.com
• Geographic
o Location
• Behavioural
o Buying behaviour, attitudes toward the produce or
how they interact with the product/response
o Usage of the product
• Differentiation
o Trying the differentiate yourself from the
competitors
The key point of the marketing and promotions and process
model is for the ability for marketers to look for
opportunities and see if they are fulfilling it.
Opportunity analysis
• The ability for a marketer to be able to identify an
opportunity within a particular segment that correlates
with trends and the competition in the surrounding
environment.
Competitive advantage
• Particular selling point that gives on business an edge
over aother. It’s usuall their poit of differetiatio
whereby they stand out from the competitors.
• This is all about the target marketing process
o Identification
o Segmenting
o Market selection (specific targeting)
▪ Ensuring that you select the right amount of
segments
find more resources at oneclass.com
find more resources at oneclass.com
