COMMERCE 2MA3 Lecture Notes - Lecture 6: Geodemographic Segmentation, Working Holiday Visa, Market Segmentation
18 Dec 2016
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Focus: how a firm conducts a market segmentation or stp analysis (segmentation, targeting and positioning) Coke zero (cid:862)real (cid:373)e(cid:374)(cid:863) did(cid:374)"t (cid:449)a(cid:374)t diet dri(cid:374)ks. Segment of men who wanted a lower calorie beverage. Know what is the mission and the objectives of the company"s marketing strategy. The segmentation strategy must be consistent with and derived from: Firm"s mission and objectives + current situation ( swot) Competitive retaliation: identifying potentially large and profitable market segment before many of its mainstream competitors offered a great opportunity, though following through on that opportunity could lead to a significant threat. Use a formal approach to segment the market. Develop descriptions of the different segments and their needs, wants, and characteristics. Helps firms better understand the profile of the customers in each segment. Use it to differentiate customer similarities within a segment and dissimilarities across segments: ex. Soft-drink marketers have broken up the carbonated-beverage landscape into caffeinated vs decaf, regular vs diet.
