33:630:301 Chapter Notes - Chapter 6: Value Proposition, High Tech, Mass Marketing
22 Feb 2017
School
Department
Course
Professor
Document Summary
Market segmentation dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes: segmenting consumer markets. It can help companies identify and better understand key customer segments, reach them more efficiently, and tailor marke offerings nad messages to their specific needs: segmenting business markets. Other variables include customer operating characteristics, purchasing approaches, situational factors, and personal characteristics. Companies establish separate systems for dealing with larger or multiple- location customers: segmenting international markets. Few companies have either the resources or the will to operate in all, or even most, of the countries that are around the globe. Different countries, even those that are close together, can vary greatly in their economic, cultural, and political makeup. Companies can segment by geographic location, which assumes that nations close to one another will have many common traits and behaviors.
