MGCR 352 Study Guide - Final Guide: Swot Analysis, Market Segmentation, Mass Customization
17 Nov 2016
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Document Summary
Key points (chapters 1-3: what is marketing and what are the factors influencing it, how marketing discovers and satisfies consumer needs, market vs. product orientation. The diverse factors influencing marketing activities: other organizations, customers. How marketing became so important: really important point in time was the transition between the sales era to the marketing concept era, product-focused to market-focused. Planning phase - step 2: market product focus: what and who of the strategic marketing process. Key points: what is market segmentation and why is it necessary, process of segmenting and targeting markets, head-to-head vs. differentiation positioning, perceptual maps. What is market segmentation: market, market segment, market segmentation. The concept of market segmentation: demographics is the most commonly used - cheapest to get data. When to segment markets: one product and multiple segments, multiple products and multiple segments, apple products. Segments of one (mass customization: tailor-made suits. Step 1: group potential buyers into segments: criteria to use.
