MKT 100 Lecture Notes - Lecture 4: Swot Analysis, Micromarketing, Mass Customization

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: unavailable

Document Summary

Marketers must determine whether the segment is worth pursuing. Is the segment identifiable, reachable, responsive and profitable: identify and develop positioning strategy (the mental picture, 4 p"s) Geographic segmentation: organizes customers into groups on the basis of where they live could be grouped by country, region, climate and topography. Better marketers make adjustments to meet the needs of smaller geographic groups continent, country, region, climate, urban, suburban, rural. Demographic: groups consumers according to easily measured, objective characteristics, such as age, gender, income, education, race, occupation, religion, marital status, family size, family life cycle and home ownership. Most common means to define segments because they are easy to identify. Age, gender, income, education, religion, background, occupation. Psychographic: how consumers describe themselves; allows people to describe themselves by using those characteristics that help them choose how they occupy their time and what underlying physiological reasons determine those choices.