MGCR 352 Lecture Notes - Lecture 5: Psychographic, Genius Bar, Mass Marketing
20 Sep 2016
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Steps in segmenting and targeting markets: group potential buyers into segments, criteria to use, potential for increased profit. Similarity of needs within segment: difference of needs among segments, reachability with marketing mix - have to be able to reach that segment. They have a lot of money to spend (they worked all their lives), and they have the time to spend the money. E. g. the genius bar at the apple store is catered to the baby boomers: gen x, gen y (tech savvy, the most popular bases for segmenting customer groups, easier to measure than most other types of variables. Family life cycle - age, marital status, and children. Just one segmentation such as age isn"t enough. Suburban vs city: benefit sought: for working out, for travelling, for shopping, pricing, age & gender, e. g. Digital cameras: behavioural - professional/beginner, frequency of use, e. g.
