COMM 296 Lecture Notes - Lecture 7: Architectural Digest, Golf Digest, Micromarketing
Document Summary
Lo 9-1 outline the diferent methods of segmenting a market. Step 1: establish overall strategy or objectives (segmentation: key: articulate the vision/objective of the company"s marketing strategy, segmentation must be consistent w/ irm"s mission and objectives, as well as. Ex: coca cola wants to increase sales in a mature industry: identify the potentially large and proitable market segment, market segmentation = dividing the total market into diferent groups. Lo 9-2 describe how irms is determine whether a segment is attractive and therefore worth pursuing. Global strategy but make adjustments to smaller geographic groups. Adjust assortment of customers based on customer needs per each location: 2) demographic segmentation = grouping consumers according to easily measured objective characteristics (e. g. age, gender, income, education) Ex: kellogg"s uses age and gender to segment its breakfast cereals market. Ex: lululemon consider appeals of various magazines for ad space.
