Textbook Notes (368,986)
Canada (162,320)
Commerce (596)
COMM 131 (63)
Chapter 7

Chapter 7 Notes.docx

2 Pages
73 Views
Unlock Document

Department
Commerce
Course
COMM 131
Professor
Jacob Brower
Semester
Winter

Description
Marketing: Chapter 7 – Segmentation, Targeting, and Positioning – Part 2 (Week 3) Market Targeting: Evaluating Market Segments: • Three Different Factors: o Segment size and growth o Segment structural attractiveness o Company objectives and resources • Right size and growth for segment selection is relative to the firm • Segment Attractiveness Factors: o Number and aggressiveness of competitors o Existence of actual/potential substitute products o Relative bargaining power of buyers o Relative bargaining power of suppliers • Company must consider own objectives and resources; should only enter  segments where it can create superior customer value and gain advantages over  competitors Selecting Target Market Segments: • Target market: a set of buyers sharing common needs or characteristics that the  company decides to serve • Different Levels of Market Targeting: o Undifferentiated (Mass) Marketing:  A market­coverage strategy in which a firm decides to ignore  market segment differences and go after the whole market with one  offer  Focuses on what is common in needs of consumers  Designs product/marketing product that will appeal to largest  number of buyers o Differentiated (Segment) Marketing:  A market­coverage strategy in which a firm decides to target  several market segments and designs separate offers for each  More expensive than undifferentiated o Concentrated (Niche) Marketing:  A market­coverage strategy in which a firm goes after a large share  of one or a few segments or niches  Targets a large share of one or a few segments or niches  Niche markets only attract one or two competitors o Micromarketing (Local or Individual) Marketing  Micromarketing: The practice of tailoring products and marketing  programs to the needs and wants of specific individuals and local  customer segments – includes local marketing and individual  marketing
More Less

Related notes for COMM 131

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit