MKT 350 Lecture Notes - Lecture 3: Behavioral Targeting, Psychographic, Big Data
Document Summary
Companies can make a variety of products. Happy medium between mass marketing and customization. Spread risk and not put all the eggs in one basket. Psychographics consumers" lifestyles, which include consumers" activities, interests, and opinions (aois) Often combined with demographic and product usage information to provide a more complete profile of consumers. When combined with values we have vals segmentation. Benefit segmentation benefits sought represent consumer needs. Design products based on the job they need to do for the consumer. Awareness status and level of involvement often change with the usage rate of the consumer. Segmenting on the basis of special occasions or situations. Identifiable, sizeable, stable and growing, reachable, congruent with the marketer"s objectives and resources. Undifferentiated marketing same as mass marketing or no segmentation. Differentiated marketing marketing to several segments like coca-cola, gm, etc. Concentrated or niche marketing marketing to one segment, people who like a unique product like dr. pepper.
