MKT 100 Chapter Notes - Chapter 6: Shampoo, Psychographic, Target Market

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

Identify and profile distinct groups of buyers who differ in their needs and preferences. For example: different shampoo needs (colour treated hair, hair type, smell, price, treatment, dandruff) Select one or more market segments to enter. For example: the segment selected will be colour treated hair. Establish and communicate the distinctive benefits of the market offering by getting customers to form a mental picture treated hair than competitors. For example: we will communicate how our shampoo is better for colour. Market: refers to a group of buyers. Market segment: subgroup of buyers within the market that have a common need. Female students who are on a budget and likes to have rose garden scent hair. Segmentation: understanding and grouping different needs and wants in overall market. The role of the marketer is not to create the segment, but to identify the market segments and determine which to target.