MKT 100 Lecture Notes - Lecture 6: Denim, Profit Margin, Mass Customization

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

Describe the bases marketers use to segment a market. Discuss the criteria for determining the attractiveness of a segment and whether it is worth pursuing (targeting) Segmentation: strategy or objectives, segmentation bases. Targeting: evaluate segment attractiveness, select target market. Positioning: select target market, identify and develop positioning strategy. Develops descriptions of the different segments, their needs, wants and characteristics. Geographic: divide market into separate geographic units, countries, regions, provinces, cities, neighborhoods, climate etc , develop appropriate marketing programs. Demographic: most common method, divide market into groups based on. Psychographic: how consumers describe themselves, self values: life goals, self-concept : the image people have of themselves, lifestyles : how we live lives to achieve goals. Group consumers based on the benefits they derive from product or services. Rbc divides customers into five primary benefit groups: youth nexus, borrowers/builders, wealth accumulators, wealth preservers: loyalty programs, usage rate: heavy users, regular users, light users, occasional users (ex.