MKT 100 Lecture Notes - Lecture 6: Rice Krispies, Arm And Hammer, Air Canada

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Martin Pyle

Document Summary

Segment of men who wanted a lower calorie beverage. Step one: establish overall strategy or objectives: consistent with mission statement s, derived from mission and current state. Demographic segmentation: divide market into separate geographic units, countries (canada, germany, china), regions (atlantic canada, western. How consumers describe themselves: self-values: life goal (self-respect, self-fulfillment, a sense of belonging, self-concept: the image people have of themselves (i. e. loreal uses the tagline. Because i"m worth it: lifestyles: how we live lives to achieve goals (i. e. lululemon was quickly built on a healthy, balanced, fun-filled lifestyle) Groups consumers based on the benefits they derive from products or services. Rbc divides customers into five primary benefit groups: youth, nexus, borrowers/builders, wealth accumulators, wealth preservers: loyalty segmentation. Identify competitors position: determine consumers" perceptions and evaluation in relation to competitors, determine consumer preferences, select position, monitor the positioning strategy.