MCOM 214 Lecture Notes - Lecture 6: Psychographic, Railways Act 1921
30 Sep 2016
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Document Summary
Chapter 4 lecture notes: aggregating groups of people into larger market segments based on their interest in the product"s utility. How target markets can be segmented: behavioristic segmentation. Sole users, semi-sole users, discount users, aware nontries, trial/rejectors, repertoire users. Seeking high quality, low price, status, sex appeal, good taste: geographic. Sales by region, county size, city size, specific location, types of stores. Prizm (database that collects consumer information: demographic. Sex, age, ethnicity, education, occupation, income, and other quantifiable factors. Often combined with geographic segmentations: psychographic. Grouping people by their values, attitudes, personality, and lifestyle. Target marketing process: target market the group of segments the company wishes to: appeal to design products for tailor marketing activities towards, determine the content, look, and feel of the ad. Product life cycle: educating customers, building wide spread dealer distribution, encouraging demand, wean product into market maximize market share early fight for market share minimize effort and time to maintain market, *end of exam 1.
