BUSN 1101 Lecture Notes - Lecture 10: Rolex, Mass Marketing, Social Media Marketing
16 Dec 2016
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Marketing: set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large: everything that organizations do to satisfy customer needs. Identify target market: product- features & benefits, setting price, make customers aware, get people to buy, deliver purchased product, managing relationships with customers, after delivery. Marketing concept: satisfying customer needs while meeting organizational goals. Target market: specific group of consumers who are particularly interested in a. Crn: 32568 product, would have access to it, and are able to buy it. Market segments: groups of potential customers with common characteristics that influence their buying decisions. Demographic age, marital status, gender, ethnic background, income, occupation, education life insurance, sephora, pacifier. Geographic climate, region, population density: ski equipment, circular saws. Behavioral attitudes toward product, user status, usage rate: watches, premium spirits. Psychographic/lifestyle variables interests, activities, attitudes, values: surfboards, nike fuel band, mountain bikes. Clustering segments determining target markets by combining, or.
