Get 2 days of unlimited access
Study Guides (350,000)
US (190,000)
BU (5,000)
SMG MK (20)
Study Guide

[SMG MK 323] - Midterm Exam Guide - Comprehensive Notes for the exam (20 pages long!)


Department
Marketing
Course Code
SMG MK 323
Professor
Lorri Veidenheimer
Study Guide
Midterm

This preview shows pages 1-3. to view the full 20 pages of the document.
BU
SMG MK 323
MIDTERM EXAM
STUDY GUIDE

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

MK 5 Note
Market Segmentation, Targeting and positioning (STP)
Process:
Step 1: Strategy or Objectives
Step 2: Select Key Variables/ Segmentation Methods
Step 3: Evaluate Segment Attractiveness
Step 4: Select target market
Step 5: Identify and develop positioning strategy
Step 2: Select Key Variables/ Segmentation Methods
Segment by: (Set shoe industry such as Nike as an example)
Behavioral: shoes for playing basketball vs. shoes for running
Geographic: shoes for people live on mountains vs. for people live in plain
Benefit: Shoes are very comfortable and can give you fast running.
Psychographic: (Value, belief, lifestyle) Sports shoes represents upper class free
lifestyle, diamonds represent love
Demographic: (gender, age, income…) 3D printing Nike shoes targeted female aged 20-
30 with income of $xxx.
(One segment may have similar variable but it still has different variable anyway. For example,
colorful shoes may target female, but with different designs, these shoes can separately target
people who running or target people who love yoga.)
Create segmentation tree and grid
Segmentation Tree
Segmentation Grid
find more resources at oneclass.com
find more resources at oneclass.com
You're Reading a Preview

Unlock to view full version

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Step 3: Evaluate segment attractiveness
Substantial: the segment demand neither too small to be insignificant, nor too big to need
its own store.
find more resources at oneclass.com
find more resources at oneclass.com
You're Reading a Preview

Unlock to view full version