BU121 Lecture Notes - Lecture 5: Product Classification, Psychographic
Document Summary
How marketing decisions are integrated with the other elements of the integrative. Why it"s i(cid:373)porta(cid:374)t to u(cid:374)dersta(cid:374)d your (cid:272)usto(cid:373)er what they want and who they are. How to segment the market and define your target. What it means to position your product and how to do it. Providing value: quality products at a reasonable price. A(cid:374) (cid:862)integrated system of activities designed to plan, price, promote and distribute, want-satisfying goods a(cid:374)d ser(cid:448)i(cid:272)es to prese(cid:374)t a(cid:374)d pote(cid:374)tial (cid:272)usto(cid:373)ers(cid:863) 4 as read chapter 3 and article staring on page 71 in lab manual. Typically, this is a segment of the market that is not being served . Perceptual mapping (cid:894)ho(cid:449) the (cid:272)o(cid:374)su(cid:373)er per(cid:272)ei(cid:448)es (cid:449)hat"s already a(cid:448)aila(cid:271)le i(cid:374) the market) Preference analysis (do they feel it meets their needs?) Benefits first then look at other segments: e. g. at&t benefit (reliability fewer dropped calls, e. g at&t meat/wife one, state of being. Recap steps: segment on basis of benefits, describe using other bases, name the segments.
