MCS 2600 Chapter Notes - Chapter 3: Microtargeting, Narrowcasting, Greeting Card

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 2600
• Professor: Lianne Foti

Document Summary

Chapter 3 market segmentation and strategic targeting. Mass (undifferentiated) marketing single standardized product is offered, with uniformed marketing strategy (agricultural products & very basic manufactured goods) Segmentation- process of dividing potential market into distinct subsets of consumers with a common need/characteristic & selecting one or more segments to target with specifically designed marketing mix. Segmentation, targeting & positioning-key elements of marketing; enable producers to avoid competition by differentiating (price, styling, packaging, promotional appeal, method of distribution, level of service) To be an effective target, a segment should be: 1/ identifiable - divide market into separate segments on the basis of common or shared needs/characteristics that are relevant to product/service. Some segmentation variables are easy to identify (demographics)& others can be determined through questioning (education, income, occupation, marital status) or are difficult such as benefits sought (in a product/service) or lifestyle. 2/ sizeable- segment must consist of enough consumers to make targeting it profitable.