MCS 4600 Lecture Notes - Lecture 4: Psychographic, Micromarketing, Business Cycle
4 Feb 2017
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Week 4: assessing global market opportunities & marketing research. We can target markets at four levels: segments , niches , ex, haier targets usa, their niche market . Is a chinese company: ge produces large fridges for usa, haier found that a lot of motels and students need smaller fridges, so they found small fridges have huge potential. This is how they compete against ge: so the small fridge market is a niche market, ex. in the 1980"s in china, you put your fridge in the living room not the kitchen. At face value, in the living room you are with your family. In 1980s most chinese were very poor, and not a lot of families had electronics. You would buy a fridge, and put it in the living room to show that you are rich: local areas , individuals . Main categories of segmentation: geographic, demographic, psychographic, behavioural. Effective segmentation criteria: measurable, substantial, accessible, differentiable, actionable.
