BU352 Chapter Notes - Chapter 7: Marketing Mix, Micromarketing, Canadian Tire
Document Summary
Clearly articulate the mission and the objectives of a company"s marketing strategy. The strategy must be consistent with the firm"s mission and objectives and in line with swot. Develops descriptions of the different segments (needs, wants, characteristics) to better understand the profile of customers in each segment; helps to identify similarities and differences across customer segments. Grouping of consumers on the basis on of where they live. Country, region, province, city, urban, rural, climate, topography. Useful for companies whose products satisfy needs that vary by region. Age, gender, income, education, race, occupation, religion, marital status, family status, family life cycle, home ownership. Represent most common means to define segments; easy to identify & easy to reach. Sex in particular plays a significant role in how firms market products. Depending on the nature of the p/s, marketers may find it more advantageous to combine demographics with other segments to get better understanding.
