AC 111 Lecture Notes - Lecture 3: Demand Characteristics, Promotional Mix, Marketing Mix

• School: FIT
• Department: Advertising and Marketing Communications
• Course: AC 111
• Professor: Hunter

Document Summary

4 components of an imc program: company"s analysis and marketing strategy, target marketing process (segmentation and targeting distinct groups, 3. Marketing planning program development (includes promotional mix) (controllable elements of promotion mix: target market. Categories of segmentation: geographic: food, weather, leisure country, state, city, neighborhoods, demographics: age, gender, education, family size, income, psychographic: aio (attitudes, interests, opinions, benefit segmentation: specific benefits that satisfy needs and wants, behavioristic segmentation: habits, loyalties, usage. Positioning: the art and science of defining product benefits+ consumer needs, what sets the product apart, creating a favorable brand image. Market segmentation: market segmentation is the process of defining and subdividing a large market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment. Market segmentation is based on behavioral, demographic, psychographic, and geological differences among consumers.