Management and Organizational Studies 2320A/B : Consumer-Driven Marketing Strategy

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Angela White

Document Summary

Using multiple segmentation bases y multiple segmentation used to identify smaller, better-defined target groups y geo-demographic segmentation an example of multivariable segmentation that divides groups into consumer lifestyle patterns. Segmenting business markets y customer operating statistics y purchasing approaches y situational factors y personal characteristics. Segmenting international markets y inter-market segmentation (cross-market) divides consumers into groups with similar needs and buying behaviours even though they are located in different countries. Choosing a target market y depends on: company resources, product variability, product life-cycle stage, market variability, competitor s marketing strategies. Socially responsible target marketing y benefits customers with specific needs y concern for vulnerable segments y children: alcohol, cigarettes, internet abuses. Differentiation and positioning y product position the way the product is defined by consumers on important attributes, the place the product occupies in the consumers mind relative to competing products: perceptions, impressions, feelings.