MKT 320F Lecture Notes - Lecture 3: Cellophane, Aspirin, Perceptual Mapping
Document Summary
Chapter 8: segmenting & targeting markets - sections (8. 3 - 8. 6) Enables marketers to identify groups of customers with similar needs and to analyze the characteristics and buying behavior of these groups. Provides marketers with information to help them design marketing mixes specifically matched with the characteristics and desires of one or more segments. Consistent with the marketing concept of satisfying customer wants and needs while meeting the organization"s objectives. To be useful, a segmentation scheme must produce segments that meet four basic criteria: Substantiability: must be large enough to warrant developing and maintaining a special marketing mix - this does not mean that a segment market must have many potential customers. Accessibility: the firm must be able to reach members of targeted segments with customized marketing mixes. Responsiveness: unless one market segment responds to a marketing mix differently than other segments, that segment need not be treated separately.
