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ADMS 3220 (6)
Chapter 3

Marketing Chapter 3.doc

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Department
Administrative Studies
Course
ADMS 3220
Professor
Pilar Ford
Semester
Winter

Description
Chapter 3Segmentation A single product price promotion is unlikely to satisfy all consumers needs Consumers have different motivations needs and preferences It is unrealistic and not smart marketing to go after the entire market with a single offering Why What is Segmentation Segmentation Breaking the market into smaller homogeneous consumer groups Segment A group of customers who share similar inclinations or liking toward a brand Marketers goal Create a marketing mix that meet the segments needs Types of Segmentation Mass marketing All customers are treated the same It simplifies business but it is unrealistic because customers differeg Pepsi seems to be mass marketed but is not Pepsi Diet Pepsi Caffeine free Pepsi 2liters 12 pack cans 6 pack bottles etc Onetoone marketing Each customer serves as his or her own segment Product is tailored for each persons desires Is usually more effective in meeting customers needs but hard to achieve efficiently and may involve quality issues eg Toyota allows customers to build their own Scion however options are limited Segmentation Segmentation falls between onetoone and mass marketing As segment size increases segments become more heterogeneous As segment size decreases segments become less profitable Marketers need the optimal segment size
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