mark 7.docx

3 Pages
Unlock Document

Acadia University
Business Administration
BUSI 2423
Harish Kapoor

why segment marketsa what market segmentation means market segmentation involves aggregating prospective buyers into groups that 1 have common needs and 2 will respond similarly to a marketing actionthis results in groups of people called market segments which are a relatively homogeneous collection of prospective buyersthe existence of different market segments causes firms to use a marketing strategy of product differentiation the firm uses different marketing mix activities to help consumers percieve the product as being different from and better than competing products1 segmentation linking needs to actions a the definition of market segmentation stresses two things 1 the importance of aggregating or groupingpeople or organizations in a market according to the similarity of their needs and the benefits they are looking for in making a purchase2 the need to relate such needs and benefits to specific tangible marketing actions the firm can take such as using one or more of the marketing mix factors b market segmentation is only a means to an endmarketing actions to satisfy customer needs 2 using marketproduct grids a marketproduct grid is a framework to
More Less

Related notes for BUSI 2423

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.