ADM 2320 Lecture Notes - Lecture 6: Psychographic, Oral-B, Kfc

• School: University of Ottawa
• Department: Administration
• Course: ADM 2320
• Professor: Sharon Lee

Document Summary

Consumers with needs or wants and the ability and willingness to buy. Steps to the segmentation-targeting-positioning process (stp: establish overall strategy or objectives. Articulate the mission and the objectives of the company"s. The segmentation strategy must be consistent and take from the firm"s mission and objectives, as well as the strengths, weaknesses, Opportunity"s and threats: example: coca-cola"s objective is to increase sales in a mature market. Its strength was its globally recognized brand name and its ability to place new products on shelves. Its weakness was that it didn"t have a product lime for emerging markets. Identifying this potentially large and profitable market segment before many of its competitors offered great opportunity: segmentation bases. The process of dividing a market into meaningful and identifiable segments. Dividing the market into distinct groups of buyers with different needs, characteristics, or behavior, who might require separate products or marketing mixes.