BUS 343 Chapter Notes - Chapter 6: Blue Ocean Strategy, Customer Relationship Management, Operational Excellence
17 Oct 2012
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Document Summary
The creation of many consumer groups due to a diversity of distinct needs and wants in modern society. Dividing the total market into different segments on the basis of customer characteristics, selecting one or more segments, and developing products to meet the needs of those specific segments. Pre-select markets, market segmentation, market targeting, market positioning, marketing mix. Similar enough within the group, different enough between the groups, large enough, measureable market, reachable. Segmentation the process of dividing a larger market into smaller pieces based on one or more meaningful characteristics. Segmentation variables dimensions that divide the total market into fairly homogenous groups, each with different needs and preferences. A technique that divides consumers into segments on the basis of how good they act towards, feel about, or use a good or service. A segmentation approach that groups of consumers based on the benefits or value they seek in buying and using products.
