Mar-3023 Lecture Notes - Lecture 6: Disneyquest, Epcot, Red Wolf
Document Summary
Market segmentation: the process of dividing up a market into smaller groups (called segments) The groups are designed to have similar wants and needs. The idea is that firms can use their marketing mix to tailor products for the different groups. Firms can then plot the segments against their core competencies and target the groups with the most sales potential. Targeting: firms then develop new products or reposition old ones to target lucrative groups of. Undifferentiated entire market is target market; 1 marketing mix (theoretical) Differentiated two or more segments; more than 1 marketing mix. Concentrated single market segment; 1 marketing mix (dating sites: homogenous market similar needs. Segmentation and targeting are all around you every day. Here are three examples of firms that have extended product lines that target distinct groups of customers. rolling rock, red wolf, shock top, bare knuckle, monster, tequiza, etc. Anheuiser busch bud light, natty, bud ice, mich ultra, odouls, bud select, busch, landshark,
