MKTG 2800 Study Guide - Midterm Guide: Telemarketing, Psychographic, Loss Leader

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Exam 2 SG
Segmentation
Putting people in groups with common trends
Will respond similarly
Types
Geographic
Demographic
o Physical (gender/race)
o Measurable (age/income)
Psychographic
o Mental or emotional (personality)
o Aspirations (lifestyle)
Behavioral
o Where they buy
o What they want
o When/why buy
Features
o Micro-fridge good for college students
Usage
o Frequent flier benefits
Criteria for selecting segments
1. Simplicity/cost effectiveness
2. Increased profit potential
3. Similar needs
4. Difference among segments
5. Some type of marketing to reach them
Criteria for selecting target markets
1. Market size
2. Expected growth
3. Competitive position of company in market
4. Cost of reaching sesgment
5. Compatibility with org’s objectives/resources
Product Position
Head-to-head
o Competing directly with competitors
o Similar products
o Same target market
Differentiation
o Less competitive
o Smaller/different market
o Make brand different
Product Repositioning
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