MKT 101 Chapter Notes - Chapter 6: Marketing Mix, Psychographic, Micromarketing
21 Jan 2019
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6: customer value-driven marketing strategy- creating value for target. 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. Market targeting: evaluating each market segment"s attractiveness and selecting one or more segments to serve. Differentiation: differentiating the market offering to create superior customer value. Positioning: arranging for a market offering to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers. Market segmentation: buyers in markets differ in their wants, resources, locations, buying attitudes/practices. Segmenting consumer markets: marketers must try different segmentation variables (alone/in combination) to find the best way to view market structure. Geographic segmentation: dividing a market into different geographical units, such as nations, states, regions, countries, cities or even neighborhoods. Stores carry a more limited (localized) assortment of goods that meet the needs of certain neighborhoods.
