September 22nd Notes
September 22nd Notes MKTG 3310-001
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This 1 page Class Notes was uploaded by Callisa Ruschmeyer on Thursday September 22, 2016. The Class Notes belongs to MKTG 3310-001 at Auburn University taught by MICHAEL KINCAID in Fall 2016. Since its upload, it has received 5 views. For similar materials see PRINCIPLES OF MARKETING in Marketing at Auburn University.
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Date Created: 09/22/16
September 22 Notes Chapter 4- Segmentation Segmentation bases o Example- Gender Create target markets o Those that are distinctively different o Or those that are likely to do something o Basically, there is criteria in selecting a target market Segmenting Consumer Markets Geographic segmentation o Least predictive o Dividing a market into different geographical units, such as nations, states, regions, countries, or cities o Companies are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions o Example- people from Minnesota react to a sunscreen commercial differently than those from Miami Beach Demographic segmentation o Dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generate Gender segmentation- dividing a market into different segments based on gender o Second to least predictive Psychographic segmentation o Dividing a market into different segments based on social class, or lifestyle characteristics; the products people buy reflect their lifestyles o Personality is not a predictor- we cannot measure it o Overall, a pretty good predictor o Reference group- groups we already belong to; example- a sorority or fraternity o Aspiration group- the group we aspire to belong to Behavioral segmentation o Dividing a market into segments based on consumer knowledge, attitudes, uses, or responses to a product Occasions, benefits sought, user status, usage rate, loyalty status o Values, attitudes and lifestyles are great predictors of behavior o Lifestyle and life cycle Car companies do a great job at marketing toward people based on their lives o Most/best predictive of the segments As a marketer, I am going to observe your behavior and then use it to predict your behavior the next time Usage rates, occasions when you buy, the users Many things we buy today are segmented by our behaviors
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