Management and Organizational Studies 2320A/B Chapter Notes - Chapter 6: La Senza, Mane People, Swot Analysis

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Emily Chen- Bendle

Document Summary

First step in the planning process is to articulate the mission and objectives of the company"s marketing strategy clearly. The segmentation strategy must then be consistent with and derived from the firm"s mission and objectives, as well as its swot analysis. Use a formal approach to segment the market. Continent, country, region, province, city, urban, suburban, rural, climate: demographic. Age, gender, income, education, occupation, race, marital status, family size/life cycle, religion, ethnic background, generational cohort, home ownership: psychographic. Benefits sought (convenience, economy, speed, environmental impact, etc. Geographic segmentation grouping of consumers on the basis of where they live. Demographic segmentation grouping of consumers according to easily measured, objective characteristics such as age, gender, income, and education. Self-values goals for life, not just the goals one wants to accomplish in a day. Self-concept the image a person has of themselves. Lifestyles how we live our lives to achieve goals.