MARK 201 Study Guide - Final Guide: Market Segmentation, Contract Manufacturer, Kim Kardashian
11 Jan 2018
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Document Summary
Most companies have moved away from mass marketing and toward market segmentation and targeting. Age and life-cycle segmentation: dividing a market into different age and life-cycle groups (disney cruises targets families with children) Occasion segmentation: dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item (christmas, halloween, canada day) Benefits segmentation: dividing the market into segments according to the different benefits that consumers see from the product (town bikes are for people seeking recreation, fitness, and urban utility) Markets can be segmented in non-users, ex-users, potential users, first- time users, and regular users of a product. Segmenting business markets: business buyers can be segmented geographically, demographically (industry, company size), or by benefits sought, user status, usage rate and loyalty status. Segmenting international markets: can be segmented into geographic locations, economic factors, political & legal factors, and cultural factors.
