BA 3301 Lecture 65: business-notes (dragged) 1
Document Summary
The process of dividing the total market into groups with similar characteristics is called market segmentation. There are different ways to divide the markets. Things that sell a certain way or things that sell period in one place won"t necessarily sell in another region (like grits). Hemorrhoid cream may sell for old people but won"t always sell for the young people. There are several different ways that these factors are implemented: Dividing a market by regions, cities, counties, or states. Criteria may include age, education level, religion, income, race, and occupation. The hidden persuaders- a book on how marketers psychologically convince people to buy products. The process of dividing the total market into groups with similar characteristics is called. For example, a shoe store may choose to sell only market segmentation. Selecting which groups or segments an organization can serve profitably is target marketing women"s shoes, only children"s shoes, or only athletic shoes.
