MGMA01H3 Chapter Notes -Unique Selling Proposition, Marketing Mix, Micromarketing
Document Summary
Ch 8: customer- driven marketing strategy: creating value for target customers. Market segmentation- dividing a market into smaller groups with distinct needs, characteristics, or behaviours that might require separate marketing strategies or mixes. Marketing targeting (targeting)- the process of evaluating each market segment"s attractiveness and selecting one or more segments 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. Market segmentation segmenting consumer markets, segmenting business markets, segmenting international markets, and requirements for effective segmentation. Easier to measure than most other types of variables: age and life-cycle segmentation- dividing a market into different age and life-cycle groups. User status: nonusers, ex-users, potential users, first-time users, and regular users. Usage rate: light, medium, heavy product users. Loyalty status: segment a market based on consumer loyalty.
