MKT 100 Lecture Notes - Lecture 5: Target Market, Marketing Mix, Psychographic

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

We identify segmentations that already exist i. e. eye colour. Accessible or reachable they must be accessible or reachable by marketers. It is not reasonable to try to market to 20-30 year olds on saturday night through tv ads because they are not watching tv. Substantial or sizeable the size of the segment must be large enough to make it a profitable group to target. Actionable or meaningful some groups have such specific and unusual needs that it is not practical to create a product for them. A segment that is not profitable is not a viable segment. Start with benefits needs or attributes then cluster the benefits that seem to fit together i. e. shampoo . A: shiny hair, less frizz, more volume, reduced dandruff, no itchiness, good price and economy size. These benefits can be clustered into beauty, health and value.