BUS 346 Chapter Notes - Chapter 9: Micromarketing, Marketing Mix, Geodemographic Segmentation
Document Summary
Lo 1: outline the different methods of segmenting a market. The decision making is not linear in real life. Step 1: establish the overall strategy or objectives of the company"s marketing strategy clearly. The first step in the segmentation process is to articulate the vision or objectives. This segmentation strategy must be consistent with and derived from the firm"s mission and objectives as well as its current situation - its swot. The second step in the segmentation process is to use a particular method or. Marketers use geographic, demographic, psychographic, benefits, and combination of methods to segment the market behavioral segmentation methods in order to segment the market and let the firm better understand customer profiles in each segment. Geographic segmentation organizes customers into groups based on where they live (from country to city) Demographic segmentation groups consumers according to easily measured,
