Management and Organizational Studies 3344A/B Study Guide - International Monetary Fund, La Senza, Geodemographic Segmentation

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3344A/B
• Professor: Julie Schermer

Document Summary

Must be consistent with and derived from the firm"s mission and objectives and current situation . Develops descriptions of different segments, their needs, wants and characteristics; this helps the firms better understand the profile of the customers in each segment. Geographic segmentation: the grouping of consumers on the basis of where they live. Demographic segmentation: the grouping of consumers according to easily measured, objective characteristic such as age, gender, income and education: gillette splits into gender fusion razor ads for men and venus ads for women. Multiple segmentation methods: demographic and geographic segmentation is easy but they don"t help marketers determine, geodemographic segmentation: grouping demographic and geographic and lifestyle their customer needs characteristics. Consumers in the same neighbourhoods tend to buy the same cars, appliances, apparel etc. Psyte cluster: the grouping of all neighbourhoods in canada into 60 different lifestyle clusters. Step 3: evaluate segment attractiveness: the gap, gap kids, babygap.