MGMA01H3 Chapter 8: Chapter 8 - MGTB04! Good notes!

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13 Feb 2012
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Chapter 8 customer driven marketing strategy: creating value to target customers. Building the right relationship with the right customers. Selecting one or more of them to tailor each of their needs segmentation. Market segmentation the process of evaluating each market segment s attractiveness and selecting one or more segment to enter. Market targeting (targeting) the process of evaluating each market segment s attractiveness and selecting one or more segment to enter. Differentiation actually differentiating the market offering to create superior customer value. Positioning arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. Small segments that can be reach more efficiently and effectively with products and service that match their unique needs. Geographic segmentation dividing a market into different geographical units such as nations, regions, provinces, counties, cities, or neighborhood. Companies are localizing their promotion & advertisement, product. Some are seeking to cultivate untapped geographic territory.