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Chapter

COMM 296 - Class Segmentation, Targeting and STP

10 Pages
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Department
Commerce
Course Code
COMM 296
Professor
Tamar Milne

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Description
Audrey YenFeb 23 11Comm 296MarketingChapter 8 Segmentation Targeting and Positioning STP AnalysisCareful when you market dont mix signalssegments Or else you send two messages ex Gap and Banana Republic same company Two brand names to not mix segmentssignalsSTP Analysis ProcessStep 1 Segmentation Strategy or ObjectivesArticulate the visionobjectivefind a strategy to fit that visionEx Coke wants to increase sales in mature industryStep 2 Describe SegmentsEACH SEGMENTATION BASE HAS MANY SEGMENTATION VARIABLESHelps understand profile of customer in each segmentEx Pop marketers break segments into1Caffeinated or decaffeinated2Regular or diet3Cola vs otherCan use multiple segmentation methods at once1Ex Identifying segment in geography and then seeing lifestyle choicesHow to Describe Market Segments BASES 41GeographicMore practical powerful and meaningful Most important to defineContinentWithin US Pacific mountain central south midAtlantic northeast THESE ARE SEGMENTATION VARIABLES FOR THIS SEGMENTATION BASECan create variables by urban vs rural topography countries etcOrganized based on where they liveAppropriate for products which satisfy needs that vary by region Better to market needs to smaller geographic groupseverywhereEx Safeway everywhere but will differ in product selling depending on where2Demographic
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