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ADM2320C Chapter 8 - Segmentation, Targeting, and Positioning

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Ajax Persaud

ADM2320C Chapter 8Segmentation Targeting and Positioning October0611 100 PM Segmentation Targeting and Positioning Process STP 1 Step 1 Establish Overall Strategy or Objectivesa Consistent with mission statement b Derived from mission and current state 2 Step 2 Profile Segments a Geographic segmentation the grouping of consumers on the basis of where they live i Countries regions provinces cities neighbourhoods climate etcii Develop appropriate marketing programs b Demographic segmentation i Most common method ii Divide market into groups based on1 Gender age ethnic group family lifecycle stage household type income other ex Occupation education religion iii Consensus excellent source of segmentation data c Psychographic segmentation How consumers describe themselvesi Selfvalues goals for life not just the goals one wants to accomplish in a day In this context they refer to overriding desires that drive how a person lives his or her lifeii Selfconcept the image people have of themselves iii Lifestyles the way a person lives his or her life to achieve goals iv VALS a psychographic tool developed by SRI Consulting Business Inte
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