MGMA01H3 Chapter Notes - Chapter 3: Psychographic
15 Apr 2011
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Document Summary
Introduction: developing marketing plan is one step of the strategic marketing planning process, involves two factors: customer needs and environmental analysis. Type of markets: consumer goods are those products and services purchased by the ultimate consumer for personal use. Segmenting consumer markets: characteristics that are used to determine market segments, age, gender www. notesolution. com, geographic location, income and expenditure patterns, population size, mobility, five commonly used bases for segmenting consumer markets, demographic segmentation. dividing an overall market on the basis of characteristics such as age, gender, income level. easiest way of dividing markets: geographic segmentation. dividing an overall market into homogeneous groups based on population location: psychographic segmentation. uses behavioural profiles developed from analyses of the activities, opinions, interests, and lifestyles of consumers: benefit segmentation. depends on a product: usage rate. divides the market by the amount of product consumed, and/or degree of brand loyalty.
