BUS 446 Lecture Notes - Lecture 6: Estimation Theory, Oil Refinery, Marketing Mix
25 Oct 2012
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Why segmentation: segmentation determines whether a market exists & is accessible, it determines the controllable variables comprising the marketing mix: Bad on that versus brand a + b what am i good at: switch the orientation that might work for you, don"t throw in the towel. London metals exchange: they have to be the same quality in order to sell, if the quality is the same, then you compete on price. If not on price, maybe on technology. Diversify in roder to reduce your risk: horizontal integration, don"t" put everything in one sector (pulp and paper) Do pulp + paper plastics, oil refinery, etc. Don"t fall into the trap of supply side definitions for market segments based on the company"s definition. Products a and b are similar, so they serve the same market and act as substitutes for each other. This is based on the customers" definition of the products and their usage.
