MKT 3000 Chapter Notes - Chapter 9-10: Universal Product Code, Big Data, Data Mining
Document Summary
Age, gender, income and education: rethinking some stereotypical ideas about who is buying has become common trend, psychographic segmentation: one that delves into how consumers actually describe themselves. Psychographics: studies how people self select based on characteristics of how they choose to occupy their time (behavior) and what underlying psychological reasons determine those voices. Value proposition: communicates the customer benefits to be received from a product/ service and thereby provides reasons for wanting to purchase it. Value: popular positioning method bc relationship of price to quality is vip. Perceptual map: displays two or more dimensions in consumers mind. Ideal points: where a particular market segment"s ideal product would lie on the map: determine consumers perception in relation to competitors, identify market idea points/size, identify competitors positions, determine consumer preference, select positioning strategy. Provides valuable info that will help them make segmentation, positioning, product, place, price, and promotion decisions. May not be specific or timely enough.
