COMM 131- Midterm Exam Guide - Comprehensive Notes for the exam ( 45 pages long!)
Document Summary
Di(cid:448)idi(cid:374)g a (cid:373)arket i(cid:374)to disti(cid:374)(cid:272)t groups a(cid:272)(cid:272)ordi(cid:374)g to (cid:272)o(cid:374)su(cid:373)ers" needs or related characteristics and behaviours. For the purpose of developing separate marketing mixed. Is designed to provide the highest value of each chosen segment: although you may not be the target market/segment try to think in terms of the consumer. A market is group of potential customers with similar needs for which there is a class of products or potential products that can satisfy that need. Grocery stores finding the perfect pasta sauce. Selling 21 different types of pasta sauce (all different times have over 21 kinds) You cannot treat the entire customer as a single target group: you must segment the target audience and design a product for them. It"s (cid:448)ery te(cid:373)pti(cid:374)g to try to satisfy e(cid:448)eryo(cid:374)e typically by adding additional features: most consumers only value specific needs, so additional features add cost, but not value. Customers differ in the importance and grouping of needs.
