MKT 100 Lecture Notes - Lecture 13: Shampoo, Marketing Mix

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Mary Foster

Document Summary

Essential tools to be an effective marketer (stp): Segmentation: identifying meaningfully different groups of customers: we identify segments that already exist -> we don"t create them. Key features of a market segment that make it an effective one: Identifiable and measurable (homogeneous within): the group must be similar enough that it"s easy to differentiate them from other groups ( homogeneous within, heterogeneous between: must also be able to measure how large the segment is. Accessible or reachable: must be accessible/reachable to marketers. Not reasonable to market to 20-30"s through televised ads on a saturday night because it"s likely they aren"t watching. Substantial or sizeable: the customer group must be large enough to make it profitable to target. White out used to be used primarily for those with typewriters (which many had during the era) but today, very few have typewriters thus makes it useless to target/sell.