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MKTG 317- Notes Jan, 2013.docx

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University of Calgary
MKTG 317
D.Lynne Ricker

MKTG Sept. 20/2012 Market Segmentation:  The process of dividing a market into meaningful, relatively similar, identifiable segments or groups. Market Segment:  A subgroup of people or businesses sharing one or more characteristics that cause them to have similar needs. Target Market:  A market segment to which an organization directs its current marketing program.  Small target markets: Ferrari or Lamborghini, yacht sellers Segment title:  Make it simple  Make it identifiable  Make it memorable: - To you  Examples: - Busy Soccer Mom - Retired businessman (golfer, 55+, vacations) Geographic Segmentation:  Narrow down: go from larger to smaller  Market size is an important factor  Keep relevance to the business in when defining limits  Each case is different Geographic Variable:  Country  Region: (e.g. Western Canada)  Province/State  City (e.g. CME, census metropolitan area)  Neighborhood  Density (e.g. Urban suburban, rural) Demographic Segmentation:  Based on population characteristics  Lots of data available for this approach  Best in combination of variables  Seldom adequate alone Demographic Variables:  Age: (Range  Gender  Ethnicity  Income: (NO
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