New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

BUS M 241 WEEK 6

by: Morgan Christensen

BUS M 241 WEEK 6 BUS M 241

Morgan Christensen

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

CH 8 Marketing Segmentation
Marketing Management
Michael J Swenson
Class Notes
Marketing, segmentation
25 ?




Popular in Marketing Management

Popular in Business Management

This 2 page Class Notes was uploaded by Morgan Christensen on Thursday October 6, 2016. The Class Notes belongs to BUS M 241 at Brigham Young University taught by Michael J Swenson in Fall 2016. Since its upload, it has received 3 views. For similar materials see Marketing Management in Business Management at Brigham Young University.

Similar to BUS M 241 at BYU

Popular in Business Management


Reviews for BUS M 241 WEEK 6


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 10/06/16
BUS M 241 WEEK 6: 10/06/16 CH 8: Market Segmentation, Targeting, and Positioning  Marketing creates VALUE for the firm’s CHOSEN CUSTOMERS.  Marketing segmentation — grouped into homogenous groups based on how they respond to the marking efforts directed towards them (brand loyalty, price consciousness) o Benefit to companies — understand what makes your best customers profitable, then identify segments that share some of those characteristics  Effective means to reach customer groups  Allocate market research  Identify new marketing opportunities  Identify segments that drive profitability o Cluster Analysis — Group into homogeneous groups  Geographic segmentation (most used)  Demographic segmentation  Psychographic segmentation  Behavioral Segmentation (most useful) — problems customers are trying to solve  Brand-loyal shoppers — high brand sensitivity, low price sensitivity  Deal shoppers — high brand sensitivity, high price sensitivity  Price shoppers — low brand sensitivity, high price sensitivity  Convenience shoppers — low brand sensitivity, low price sensitivity o Criteria for Effective Segmentation  Measurable — assigned to a segment and counted  Accessible — reached through channels  Durable — segment membership is constant  Substantial — segment is large enough so products are profitable  Unique needs — Needs are homogeneous within segments and heterogeneous across segments o Person by Situation Segmentation  Person variability — not each person is the same  Situation variability — people make choices depending on the situation o Diffusion Process — a form of market segmentation  Describe how prospective consumers learn about new products, experience with them, adopt/reject them. People differ in their READINESS TO TRY NEW PRODUCTS. o Selecting Segments Criteria  Market Size  Expected Growth  Competitive position  Cost to reach  Hate, Swing and Love groups o Ignore the hate group o Love group = brand champions, understand benefits BUS M 241 WEEK 6: 10/06/16 o Swing group is where you have the largest opportunity. Sell to the swing group through the eyes of the Love Group.  Buying Situations o Buyers o Benefits o Decision Timing o Product Location o Buying Behavior o Decision Drivers o Usage Behavior  Examining Alternatives (see matrix below)   Unique Selling Proposition (USP) o Each advertisement must say what benefit you will get from buying the product o Unique proposition not stated by competitors o Strong proposition in that it brings new customers to the product  Product Positioning o Perceptual Mapping o Gap Analysis o Hierarchical Values Analysis  Elicit distinctions  Pyramid down  Ladder up


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Janice Dongeun University of Washington

"I used the money I made selling my notes & study guides to pay for spring break in Olympia, Washington...which was Sweet!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.