MKT 100 Lecture Notes - Lecture 7: Bungee Jumping, Takers, Secure Transmission

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Katie Lebel

Document Summary

Identify segments that already exist, not creating one: ex: segmenting eye colour, do(cid:374)"t make someone have specific eye colour, can segment health conscious 25-40 year olds. Identifiable and measurable-homogeneous within: si(cid:373)ilar e(cid:374)ough i(cid:374) a group so it"s eas(cid:455) to see that the(cid:455) are differe(cid:374)t tha(cid:374) other groups, homogenous within, heterogeneous between. Health, value (broad and common need: after broad and common needs, other factors can be identified: geographic, demographic, psychographic, user & behavioural (layered on top) Starts with product/service and image of it in the mind of the consumer. Occupy distinct place in mind of the prospect (space in mind only associated with this product) Marketing mix to reflect and reinforce the positioning with target market. Products can be differentiated based on features of product, distribution channel, type of customer, cost, image of company or product. Every positioning statement needs to include target market characteristics, customer need, customer benefit provided by product, usp (unique selling position) or point of differentiation.