MKTG1001 Lecture Notes - Lecture 5: Psychographic, Kfc, Micromarketing

• School: University of Sydney
• Department: Marketing
• Course: MKTG1001
• Professor: Jeaney

Document Summary

Market segmentation, targeting and positioning lecture 5. Where are we: operating in a dynamic environment: the firm"s position within the industry and the influences of the changing macro environment. Using its knowledge of consumers (from consumer behaviour and market research/information: the firm (strengths: capabilities, resources, brands, products, finance, culture, skills) Select target market/s, create differentiation and value and choose best positioning. Proceed to the implementation of the 4p"s. Ideally, then, a seller might design a separate marketing program for each buyer. Segmentation allows companies to divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively. Segmentation occurs in regard to consumers, not products, i. e. car segmentation: larger families, off-road users, status seekers (consumers, not vans, 4-wheel drives, sports cars (products) Four main approaches to segmentation: geographic nations, regions, states or neighbourhoods, demographic measurable characteristics i. e. age, gender, occupation etc, psychographic social class, lifestyle and personality characteristics.