MKTG 310 Chapter Notes - Chapter 6: Micromarketing, Marketing Mix, Psychographic

• School: Bloomsburg University
• Department: Marketing
• Course: MKTG 310
• Professor: Jung Seek

Document Summary

170): dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. Market targeting: evaluating each market segment"s attractiveness and selecting one or more segments to enter. Differentiation: 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 products in the minds of target consumers. 171): dividing a market into different geographical units, such as nations, states, regions, countries, cities, or even neighborhoods. 172): dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation. Age and life-cycle segmentation: dividing a market into different age and life-cycle groups. 173): dividing a market into different segments based on gender. Income segmentation: dividing a market into different income segments. 174): dividing a market into different segments based on social class, lifestyle, or personality characteristics.