Class Notes (905,025)
CA (538,335)
UTSC (32,636)
MGT (624)
MGTA02H3 (149)
Lecture

Lecture no. 6 notes .... plus analysis

2 Pages
64 Views

Department
Management (MGT)
Course Code
MGTA02H3
Professor
Chris Bovaird

This preview shows half of the first page. Sign up to view the full 2 pages of the document.
Lecture 6
Marketing (Target Markets & Market Segmentation)
The Marketing Concept:-
-Rather than being product focused a well managed business is what the customer
wants (customer focused).
-The business is directed towards serving existing/ potential customers while
making profit.
-Example: Chr ysler a automobile manufacturer who went bust due to making their
products inefficient which customers (general public) are not satisfied and therefore
demand of their products decreased rapidly.
Target Markets:-
Who exactly is the customer?
Cant sell to everybody
The SPECIFIC group of people, the business targets as the most likely/ intended
customers.
Market Segmentation:-
Marketers divide world into smaller and smaller groups of SIMILAR people.
People whose need, wants, attitudes to the product likely to be similar.
Some ways markets can be segmented:-
-Demography: - a persons external traits. Age, Gender, Race, Income. Example: Kraft
Dinner. (people under AGE of 30, with low INCOME)
-Psychographic - a persons internal traits. Targeted at Peoples Beliefs, their values, if
they are motivated. Example: Charities & Political Parties: their adds target directly to our
BELIEFS and our VALUES.
-GeographicWhere people live. Region, Rural vs Urban, Climate. Example: No point
in selling skies in countries where there is no snow.
The Four Ps: (putting the right package together in order to satisfy your Target Market)
oProduct: features, what people want ? What people demand for?
oPrice: at pric e s people will pay for the product.
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
Lecture 6 Marketing (Target Markets & Market Segmentation) The Marketing Concept:- - Rather than being product focused a well managed business is what the customer wants (customer focused). - The business is directed towards serving existing potential customers while making profit. - Example: Chrysler a automobile manufacturer who went bust due to making their products inefficient which customers (general public) are not satisfied and therefore demand of their products decreased rapidly. Target Markets:- Who exactly is the customer? Cant sell to everybody The SPECIFIC group of people, the business targets as the most likely intended customers. Market Segmentation:- Marketers divide world into smaller and smaller groups of SIMILAR people.
More Less
Unlock Document


Only half of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit