GG394 Lecture Notes - Lecture 10: Psychographic, Microsoft Powerpoint, Accorhotels
Document Summary
Copy of report and power point + digital version emailed to her. Benefits of segmentation: effective use of resource, gain a focus, create value for a target market, positioning (relative to your competitors) Market segmentation: identify bases for segmenting the market, develop segment profiles. Market targeting: developing measure of segment attractiveness, select target segments. Marketing positioning: develop positioning for target segments, develop a marketing mix for each segment. Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs. Divide the market into groups based on variables such as: Income: age, gender, family size or life cycle, occupation, education, religion, race, generation, nationality. Dividing the market into groups based on variables such as: occasions, benefits, user status, usage rate, readiness stage, attitude toward product. Segments must respond differently to different marketing mix elements and programs.
