MKT 2210 Lecture Notes - Lecture 6: Destination Canada, Market Segmentation, Marketing Mix

• School: University of Manitoba
• Department: Marketing
• Course: MKT 2210
• Professor: Luming.Wang

Document Summary

The canadian tourism commission (ctc) found three segments for the canadian market: What market segmentation means: involves aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action. Market segments: are the relatively homogeneous groups of prospective buyers that result from the market segmentation process. Product di erentiation: involves a rm using di erent marketing mix activities to help consumers perceive the product as being di erent from and better than competing brands; physical features or non physical ones such as image or price. Segmentation: linking needs to actions, to increase sales and pro tability. Market product grid: framework to relate the market segments of potential buyers to products o ered or potential marketing actions by the rm. When to segment markets: cost < bene t. Same product but di erent promotional and distribution strategies.