MARK301 Lecture Notes - Lecture 7: Unique Selling Proposition, Ideal Point, Aspirin

• School: University of Alberta
• Department: Marketing
• Course: MARK301
• Professor: Peter Popkowski

Document Summary

: dividing a market into distinct groups with distinct. : evaluating each market segment"s attractiveness and needs, characteristics, or behaviours who may require different products or marketing mixes. choosing the segment(s) to enter. create superior customer value product relative to competitors in the minds of target customers. : making yourself different from other offerings to: positioning. : creating a clear, distinctive, and desirable place for a: differentiating. How: goal: build the right relationships with the right customers create value. Why segment: better focus on consumer needs, no single marketing mix can satisfy everyone, more effective marketing strategies, use separate marketing mixes for different segments, allocate resources based on attractiveness of different segments. Personal characteristics such as o: gender, age, family size, family life cycle, income, occupation, education, religion o. Segmentation by demographics: segmenting by gender works for many gender-specific products, women make 90% of home improvement decisions, women influence 80% of all household consumer purchases.