MKT 100 Chapter Notes - Chapter 6: Ideal Point, Mass Customization, Micromarketing

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

Mkt100 chapter 6: segmentation, targeting, and positioning (textbook notes) Articulate the mission and the objectives of the company"s marketing strategy clearly. Must be consistent with and derived from the firm"s mission and objectives, as well as its current situation - its strengths, weaknesses, opportunities, and threats (swot) Use a formal approach to segment the market. Develops descriptions of the different segments, and their needs, wants, and characteristics, which helps firms better understand the profile of the customers in each segment. They can distinguish the customer similarities in a segment and dissimilarities in a segment. The grouping of consumers on the basis of where they. Could be grouped by country, region, by areas within a region, or by climate and topography. Most useful for companies whose products satisfy needs that vary by region. Better marketers make adjustments to meet the needs of smaller geographic groups.