MKTG 4150 Chapter 1: Chapter 1.pdf
7 Oct 2014
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Document Summary
Psychographics: includes aspects of a person"s lifestyle, interests, attitudes, values, and personality. Both are important in many marketing applications e. g. defining the market for a product, deciding the appropriate techniques to employ when targeting a certain group of people. Purchase decisions influenced by friends product info gets transmitted through convos among real people rather than through commercials and other advertising methods. The web has facilitated consumption communities where members share views and product recommendations. People in society share certain cultural values or strongly held beliefs about the way the world should be structured; values are also shared by members of subcultures (smaller groups within the culture) Marketing segmentation strategies means targeting a brand only to a specific group of consumers rather than to everybody even if it means alienating other groups (e. g. Brands usually have a defined image or personality" that was created through positioning.
