Management and Organizational Studies 2320A/B Chapter Notes - Chapter 6: Marketing Mix, Target Market, Micromarketing

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Useful for companies whose products satisfy needs that vary by region. Do(cid:374)"t help deter(cid:373)i(cid:374)e (cid:374)eeds: demographic segmentation: the grouping of consumers according to easily measured objective characteristics such as age, gender, income and education, most common means of defining segmentation. Poor predictors of the users of active wear. Do(cid:374)"t help deter(cid:373)i(cid:374)e (cid:374)eeds: psychographics: base delves into how consumers describe themselves; allows people to describe themselves by using those characteristics that help them choose how they occupy their time and what underlying psychological reasons determine those choices. Not as objective as demographics, harder to identify potential customers. Self-values: goals for life, not just the goals one wants to accomplish in a day; a component of psychographics that refers to overriding desires that drive how a person lives their live. Self-concept: the image a person has of themselves. Lifestyles: how we live our lives to achieve our goals.