MGMA01H3 Lecture : Chapter 8.docx
Document Summary
Chapter 8 customer-driven marketing strategy creating values for target customers. Market segmentation: dividing a market into smaller groups w/ distinct needs, characteristics, or behaviours that might require separate marketing strategies or mixes. Market targeting (targeting): the process of evaluating each market segment"s attractiveness and selecting 1+ segments to enter. Differentiation: actually differentiating the market offering to create superior customer value. Positioning: arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. Market segmentation to divide large hetero markets into small segments (can better math to unique needs) Geographic segmentation: dividing a market into different geographical units such as nations, regions, provinces, counties, cities, or neighbourhoods. Gender: gender segmentation: dividing a market into different groups based on gender. Income segmentation: dividing a market into different income groups: targets the affluent often but not always (hq hotels, vs dollarama)
