MGT252H5 Lecture 5: Marketing - Lecture #5
Document Summary
Identifying target segment involves developing detailed profile of members across many different demographic characteristics: demographic characteristics are easiest to observe but very simplistic, ex. Lifestyle = innovators, thinkers, achievers, experiencers, believers, strivers, makers, survivors. Personality = compulsive, expressive, authoritarian, ambitious: behavioural segmentation, divides buyers into groups based on consumer knowledge, attitudes, uses or responses to product. Occasional segmentation = based on when buyers get idea to actually buy or use product. Benefit segmentation = based on benefits consumers seek from product. User status = based on status as nonuser, ex-user, potential user, first time user or regular user. Usage rate = based on light, medium or heavy use. Rebadging (twinned vehicles) ex. dodge caravan vs. volkswagen routan. Student vs. professional versions of same software package. Undifferentiated (mass) marketing = market coverage strategy that ignores market segment differences and targets whole market with one offer: ex. pepsi and original coke.
