MKTG 300 Chapter 7: Customer-Driven Marketing Strategy Notes

• School: University of San Diego
• Department: Marketing
• Course: MKTG 300
• Professor: O'' Neal Carlton

Document Summary

Market segmentation dividing a market into smaller segments of buyers w/ distinct needs, characteristics, or behaviors that might require separate marketing strategies. Geographic segmentation dividing into diff geographical units (nations, states, cities, neighborhoods) Demographic segmentation dividing market into segments based on variables like age, gender, income, education, ethnicity, religion, occupation, generation or life-cycle stage. Income segmentation dividing market into different income segments. Age & life-cycle segmentation dividing market into different age and life-cycle groups. Gender segmentation dividing market into different segments based on gender. Psychographic segmentation dividing based on social class, lifestyle, personality (demo - d. i. n. c. ) Behavioral segmentation dividing based on consumer knowledge, attitudes, uses/product responses. Occasion segmentation dividing market according to occasions when buyers get the idea to buy, actually making purchase, or use the purchased item. Benefit segmentation dividing market according to different benefits that consumers seek from product. Business buyers can be segmented also by user status, usage rate, loyalty status, operating characteristics, purchasing approaches, situational factors.