MGT252H5 Chapter Notes - Chapter 8: Value Proposition, Whole Foods Market, Mass Customization
Document Summary
Gender: dividing a market into diff. groups based on gender. Occasions: dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase or use the purchased item, help firms increase product usage; increase demand for nonholiday occasions, e. g. Benefits sought: dividing the market into groups according to the diff. benefits that consumers seek from the product. Usage rate: segmented into light, medium and heavy product users, heavy users are small in % of the market, but high % of total consumption. Using multiple segmentation bases: to identify smaller, better-defined target groups. Segmenting international markets: can be segmented by geographic, economic, political and cultural factors, intermarket / cross-market segmentation, forming segments of consumers who have similar needs and buying behavior even though they are located in diff. countries. 5: hiring and training better ppl than their competitors.
