ECN 204 Lecture Notes - Lecture 7: Psychographic, Micromarketing
14 Mar 2019
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Document Summary
2 ways to stand out: develop excellent communication skills and be professional. Mattel releases 17 new barbie dolls to celebrate international women"s day, homogenous business model. Professional self presentation: 80% future opportunities will be connected to who you know. How you present yourself now will matter most later. 5 step process to figure how to position a particular product. Meaningful segmentation identifies groups that matter to an organization"s financial performance. Geographic: continent, province, city, urban, suburban, rural, climate. Demographic: age, gender, income, education, occupation, race, marital status, family size, home ownership, generational cohort. The stp process involves segmentation, targeting and positioning. Segmentation: a marketing planning process that involves dividing a broad target market into subsets or groups of customers who have common needs or characteristics. Targeting: selecting the potential customer segments to whom a company wishes to sell products or services, after an analysis of each segment"s attractiveness.
