MKT 100 Chapter Notes - Chapter 6: Swot Analysis, Mass Customization, Procter & Gamble

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

The planning process is to articulate the mission and objectives of the company"s marketing strategy clearly. The segmentation strategy that consists of firm"s mission and objectives that show the current situation (aka; swot) This is the second step of the process that has the formal approach in segment for the market. The step develops descriptions of different segments and their needs/ wants/ characteristics of the firm to make profit. The grouping of consumers on the basis of where they live. The geographic segmentation which is mostly used in products satisfy the needs which vary by region. The population and number of companies which are in the geographic area that can define the target markets. Provide the same basic goods/services that are in the segments in the market globally/nationally; well marketers can make the adjustments to meet the needs of smaller geographic groups. The grouping of consumers according to easily measured, objective characteristics such as age, gender, income and education.