MKTG 2030 Chapter Notes - Chapter 3: Dental Floss, Psychographic, Market Segmentation
27 Feb 2016
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Market segmentation: dividing customer needs into groups in such a way that customers within a group share similar needs, and each group is distinct from other groups in terms of needs. It enables an organization to accrue several benefits such as the ability to serve needs better, utilize resources more effectively, and discover unmet needs. Contrasts with mass marketing: w. l. gore and associates invented glide (new dental floss) than did not shred or get stuck within teeth. Marketed to dentists, huge success, bought by p&g, and sold under the crest brand umbrella. Mass marketing: presenting the same offer to all customers. It ignores customer needs and is, therefore, untenable. Conducted research on who bought and drank the milkshakes, when they were bought. Made changes to the milkshake itself to satisfy their different customer. How to segment: the right way: milkshake example segments.
