BUS 446 Lecture Notes - Illegal Drug Trade, Marketing Mix, Satisficing

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 446
• Professor: Lindsay Meredith

Document Summary

Behaviour, scanner data for segmentation (e. g. safeway cards) You can trade off disadvantage using other mixed variables. This is why we get multiple prices differentiation: evc = economic value to customer. If the premise is wrong fundamental premise then everything else that follows is wrong. First number has to be right or in the ball park. Markets are not homogenous that"s a problem: homogeniety: buyer wants, needs & characteristics are all similar. Markets are heterogeneous: comprised of heterogeneous consumer groups but they do share homogeneous characteristics & needs. Objective is to id these homogeneous sub-groups & design marketing strategies to access them. Subdivides a market into homogeneous subsets of customers where any subset may be selected as a target market to be reached by a distinct marketing mix. The farther you move out of the center, the harder you have to work to get what you want the business. More options you have risk diversification.