BUS 362 Lecture Notes - Lecture 7: Market Segmentation, Psychographic

• School: Stony Brook University
• Department: Business Management
• Course: BUS 362
• Professor: Robert Ettl

Document Summary

Global market segmentation or individual consumer groups across countries - of potential customers with homogeneous attributes who are likely to exhibit similar buying behavior. : the process of identifying specific segments - country groups. An example of an analysis: using profit potential and accessibility. Profit potential: do it, go (easiest, don"t allocate a lot of resources, since low profit, joint-venture, go home (hardest) Each market segment should have their own set of 4 p"s. Industrial segmentation variables: geographic: where are they located local, regional, international, demographic: size, number of employees, money spent on products, application: how the business uses the product. Segmentation strategies: undifferentiated (standard global market): the world is my market; usually high end technology product sold globally ex. Godiva, offers higher cocoa % for those willing to pay higher price: micro marketing: a market segment of one customer, product is unique to one customer. Positioning variables/attributes such as: price, quality, benefit, style or global, local and foreign.