BUS 343 Chapter Notes - Chapter 7: Psychographic, Sport Chek, Mass Customization

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Jason Ho

Document Summary

Segmentation: divide a market into distinct groups with distinct needs, characteristics, or behaviours that might require separate marketing strategies or mixes. Targeting: evaluating each market segment"s attractiveness and select one or more. Differentiation: actually differentiating the market offering to create superior customer value. Positioning: arranging for a market offering to occupy a clear, distinctive and desirable place relative to competing product in minds of consumers (using 4p) Geographic segmentation: divide a market into different geographical units, such as global regions, countries, regions within a country, provinces, cities, or even neighborhoods. Demographic segmentation: divide the market into segments based on variables such as age, gender, family size, life cycle, household income occupation, education, ethnic or cultural group and generation. Age and life-cycle segmentation: divide a market into different age and life-cycle group. Gender segmentation: divide a market into different segments based on gender. Household income segmentation(hhi): divide a market into different income segments.