MKT 100 Lecture Notes - Lecture 6: Psychographic, European Cooperation In Science And Technology, Caffeine

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Caitlin Mc Laughlin

Document Summary

Week 8 segmentation, targeting, positioning part 2. Effective marketing requires: segmentation: identify and profile distinct groups of buyers who differ in their needs and preferences, targeting: select one or more market segments to enter, positioning: establish and communicate the distinctive benefits of the market offering. Market and segment differ: market: refers to a group of buyers (overall market) e. g. , baby boomers age 45- 63: segment: refers to the subgroup of buyers within the market that have a. Common need e. g. , female baby boomers who are empty nesters and retired and enjoy reading. Example: segmentation of pda preferences, identify the small segments with a few competitors and then we make our decision that"s important to consumers. Seeking low cost basic transportation, seeking a luxurious driving experience, seeking a performance oriented machine (segment groupings) Segment positioning and come up with the 4 p"s.