COMMERCE 3MB3 Lecture Notes - Lecture 1: Homeostasis, High Culture, Ebay
4 Mar 2019
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Document Summary
Cb is bread and butter" of marketing: consumer response is ultimate test of any strategy, embed consumer insight into every aspect of marketing plan. Define markets not in terms of products but in terms of needs: e. g. What criteria used for segmentation: age, demographics, location, hobbies. Income: geography, purchase profiles, database marketing/big data, relationship marketing, psychographics, personalities, attitudes, values and lifestyles. How large should segment be: depends. Identifying many segments is costly but increases appeal to larger amount of customers: 80/20 rule. It"s a trade off: don"t waste effort with too fine grained segmentation. Can blur the lines between reality and augmented reality. Culture jamming: disrupting corporate efforts to dominate our cultural landscape. Marketing answers: csr, cause related marketing, green marketing. Do marketers manipulate consumers: needs, something you have to have, social contact can be considered a need, want, one way that society taught us to satisfy a need.
