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Marketing Exam Study!

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    Growth – early majority customers, rapid sales growth and revenues

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    Maturity – late maturity customers, flat sales, declining profits

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    Decline – laggard customers, declining sales, replaced by new products

Marketing Segmentation

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    Dividing a market into distinct groups with distinct needs, characteristics, or behaviours who might require separate products or marketing mixes

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    Four important segmentation topics: segmenting consumer markets, segmenting business markets, segmenting international markets, and requirements for effective segmentation

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      Segmenting Consumer Markets

      • There is no single way to segment a market, a marketer has to combine several segmentation variables to find the best structure

      • Major variables are:

        • Geographic Segmentation

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            Dividing market into groups based on geographic units such as nations, regions, provinces, countries, cities, or neighbourhoods

        • Demographic Segmentation

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              Dividing market into groups based on demographic variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality

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              Demographic segmentation characteristics:

              • Age and life-cycle stage

              • Gender

              • Income

        • Psychographic Segmentation

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              Dividing a market into different groups based on social class, lifestyle, or personality characteristics

        • Behavioural Segmentation

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              Dividing a market into groups based on consumer knowledge, attitude, use, or response to a product

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