COMMERCE 2MA3 Chapter Notes - Chapter 8: Census Geographic Units Of Canada, Baby Boomers, Millennials
17 Apr 2014
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The role of market segmentation : market segmentation: division of the total market into smaller, relatively homogeneous groups, four basic requirements for effective segmentation are: The market must present measurable purchasing power and size. 1: marketers must find a way to promote effectively and to serve the market segment, marketers must then identify segments that are sufficiently large to give them good profit potential. The firm must aim for segments that match its marketing capabilities: segmentation of the consumer market: Geographic segmentation: division of an overall market into homogeneous groups based on their locations. Businesses must look at: to 80 percent of their sales. Core regions: region from which most major brands get 40. Census metropolitan area (cma): geographic area surrounding an urban core with a population of at least 100,000. Census agglomeration: geographic area with a population over an overall market into homogeneous groups based on variables such as: Generation x: the group born between 1966 and 1981.
