MKT 100 Lecture Notes - Lecture 5: Fixed Cost, Disposable And Discretionary Income, Bungee Jumping

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

Discuss how a confirm conducts market segmentation/stp analysis. Discuss market segmentation, how segmentation strategy fits into a firm, objectives. How to choose target (cid:373)arket (cid:271)(cid:455) e(cid:448)aluati(cid:374)g seg(cid:373)e(cid:374)t"s attra(cid:272)ti(cid:448)e(cid:374)ess. Must have a clear understanding of the (cid:373)issio(cid:374) a(cid:374)d o(cid:271)je(cid:272)ti(cid:448)es of the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s marketing strategy for segmentation strategy to be consistent and derived from the fir(cid:373)"s (cid:373)issio(cid:374) a(cid:374)d o(cid:271)je(cid:272)ti(cid:448)es i. e. coca-cola objective: increase sales in mature industry. Four types of segmentation bases: geographic, demographic, psychographic and behavioural. Geographic segmentation groups consumers based on where they live. Market could grouped by country, region, areas within region, or by climate and topography. Most useful for companies whose products satisfy needs that vary by region. Firms can provide basic goods and service to all segments but markets make minor adjustments to meet needs of small geographic groups i. e. loblaw and sobeys runs similar assortment but the goods vary by region, city or neighborhood.