BUSI 2204 Lecture Notes - Lecture 7: Clinique, Product Differentiation, Profit Margin
19 Jun 2015
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Busi 2204 chapter 7 segmentation, targeting and positioning: step 1 : establish overall strategy or objectives. First step in the planning process is to articulate the mission and the objectives of the company"s marketing strategy clearly: step 2 : segmentation bases geographic, demographic, psychographic and. Geographic this type of segmentation organizes customers into groups on the basis of where they live. It could grouped by country, province, region, city or climate. Demographic this type of segmentation organizes customers into groups by age, sex, income, education, race, ethnicity etc These variables represent the most common means to define segments because they are easy to identify. Psychographic a segmentation that delves into how consumers describe themselves. Usually marketers determine (through demographics, buying patterns, or usage) into which segment an individual consumer falls. A psychograph consists of 3 components self-value, self-concept and life style. Categories innovators, thinkers, believers, achievers, strivers, experiencers,
