ADMS 2200 Chapter Notes - Chapter 8: Geographic Information System, Market Segmentation, Baby Boomers

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Kim Snow

Document Summary

Chapter 8 marketing segmentation, targeting, and positioning. Market group of people with sufficient purchasing power, authority and willingness to buy. Target market group of people to whom a firm decides to direct its marketing efforts, goods and services. Chapter objective 1: identify the essential market components, outline role of market segmentation in developing market strategy, and describe the criteria necessary for effective segmentation. Consumer products products bought by ultimate consumers for personal use i. e. cell phone. Business products goods and services purchased for use either directly or indirectly in the production of other goods and services for resale i. e. rubber, raw cotton. Market segmentation division of the total market into smaller, relatively homogenous groups. Both profit orientated and not-for-profit practice market segmentation. Four common bases for segmenting consumer markets: geographic, demographic, psychographic, product-related. Chapter objective 2: explain the 4 bases for segmenting consumer markets. Division of an overall market into homogenous groups based on their locations.