MKT-3010 Lecture Notes - Lecture 2: Generic Brand, Reverse Engineering, Brainstorming
20 Dec 2016
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Helps to understand the customer: profile, similarities, dissimilarities. Links needs to actions: identify market needs, take steps to segment and target markets, execute marketing mix. Segmentation methods: demographic segmentation (income, education, age, ethnicity) Mcdonalds has dollar menu (income), happy meal (kids), mighty meal (older kids: geographic segmentation (location) Campbells fiesta nacho cheese has different formulas in northeast and southwest due to different tastes- spicier in southwest and more mild in northeast. Proximity marketing (l in chicago can announce sale at store near stop) Geocoding- based on where you live, where consumers come from: psychographic segmentation. Self image (how do you see yourself- often in terms of overall life goals) Lifestyle (how you live your life and spend time/money: activities, interests, opinions) What benefit do you derive (buying toothpaste do you get regular or whitening : behavioral segmentation. Usage situation (occasion situation- halloween decorations used around halloween)
