BU352 Chapter Notes - Chapter 6: Market Trend, Cola Wars, Mass Customization
Document Summary
Discussing market segmentation, or how segmentation strategy fits firm"s overall strategy and objectives and which segments are worth. How to choose target market or markets by evaluating each segment"s attractiveness and choosing which segment or segments to pursue. Describe how firm develops positioning strategy into pursuing. Articulate mission and objectives of company"s marketing strategy. Segmentation strategy must be consistent with and derived from firm"s mission and objectives, as well as swot. Develops descriptions of the different segments and their needs, wants, and characteristics helps firms better understand profile of customer in each segment, distinguish customer similarities within segment and dissimilarities across segments. Geographic segmentation: grouping of consumers on basis of where they live (country, region, areas within region, or by climate and topography) Better marketers make adjustments to meet the needs of smaller geographic groups. Demographic segmentation: grouping of consumers according to easily measured, objective characteristics such as age, gender, income, and education.
