RSM250H1 Chapter Notes - Chapter 3: Unique Selling Proposition, Market Segmentation, Target Market
Document Summary
Posiioning: provides the synergy among the 4ps (product, price, place and promoion) of the markeing plan. These steps are the prerequisites for designing a successful markeing strategy. They allow the irm to focus its eforts on the right customers and also provide the organizing force for the markeing-mix elements. Deiniion: consists of dividing the market into groups of (potenial) customers called market segments with disinct characterisics, behaviours, or needs. Aim: to cluster customers in groups that clearly difer from one another but show a great deal of homogeneity within the group (more eiciently & efecively). Segment should be based on one or more customer characterisics relevant to the irm"s markeing efort. 2 related types of segmentaion: segmentaion based on beneits sought by customers (ideal scenario: group customers based on their needs) E. g. evaluate drugs along 2 dimensions: efeciveness and gentleness: segmentaion based on observable characterisics of customers. Lifestyles: consumer demographics: gender/age/income, consumer"s geographic locaion.
