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Department
Business and Management
Course
BMGT 350
Professor
Roxanne Leftkoff
Semester
Spring

Description
350Chapter 831514Segmenting and Targeting MarketsMarket SegmentationMarket people or organizations with needs or wants and the ability and willingness to buyMarket segment subgroup of people sharing one or more characteristics that cause them to have similar product needsMarket segmentation dividing a market into meaningful relatively similar and identifiable segments or groupsImportance of Market SegmentationDefine customer needs more precisely define marketing objectives and allocate resourcesCriteria for Successful SegmentationSustainability segment must be large enough to maintain a special marketing mixIdentifiability and Measurabilityknow how many people are willing to participateAccessibilitymust be able to reach the members of the target marketing mixResponsivenesssegments dont need to be treated differently unless they respond differently to a changeBases for Segmenting Consumer MarketsSegmentation bases characteristics of
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