33:630:301 Chapter Notes - Chapter 9: Pickup Truck, Market Segmentation, Sport Utility Vehicle

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18 Mar 2016
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Market segmentaion aggregaing prospecive buyers into groups: have common needs= group people, will respond similarly to a markeing acion= new product/special promoion. Market segments relaively homogeneous groups of prospecive buyers that result from the market segmentaion process. Product difereniaion irm uses diferent markeing mix aciviies: product features and adverising to help consumers perceive the product as being diferent & beter than compeing products. Market-product grid framework to relate the market segments of potenial buyers to products ofered or potenial markeing acions. Market segmentaion leads to tangible markeing acions that can increase sales and proitability. When: expenses > potenially increased sales from segmentaion= don"t segment the market. **stay simple (less product variaion) to lower prices and keep high quality: segments of 1: mass customizaion a. Organizaional synergy increased customer values achieved through performing organizaional funcions (markeing/manufacturing more eiciently) Successful segmentaion strategies= balance between saisfying a customer"s individual wants and achieving organizaional synergy.

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