MCS 1000 Chapter 9: Unit 4- Segmenting, Positioning, and Targeting

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Raffi Sarmazian

Document Summary

Most companies segment markets because of an almost unassailable premise: People are different, and people who are different are likely to have different. Smart marketers segment markets so they can respond more effectively to the specific. Not-for-profit organizations also segment the clients they serve to satisfy client needs. Market segmentation involves grouping prospective buyers into groups that needs and wants of potential buyers, and thus increase sales and profits more effectively while achieving the organization"s goals. Market segments: from the market segmentation process based on consumer behaviour. Is a framework to relate the market segments of potential buyers. The key to successful differentiation and market segmentation strategies is finding the. The increased customer value achieved through performing organizational ideal balance between satisfying a customer"s wants and achieving synergy: functions such as marketing or manufacturing more efficiently. Increased customer value can take many forms: Easier access to products through improved distribution.