MKT 100 Lecture Notes - Lecture 7: Sobeys, Micromarketing, Profit Margin

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Steven Chuang

Document Summary

Canada,germany,china: country, province, urban, continent: north america, region: atlantic. Divide market into groups based on gender, age, ethnic. Self-values: life goal (self- respect, a sense of belonging) Self-concept: the image people have of themselves. Lifestyles: how we lives to achieve goals (i. e. lululemon was quickly built on a healthy, balanced, fun-filled lifestyle). Examples such as: age, gender, income, education. Examples such as: user status, loyalty, usage rates. And positioning they obtain from products or consumers. Strategy of investing in retention and loyalty initiatives the to retain the firms most profitable customers. Too small and segment is insignificant, not profitable. Members of targeted segments must be reachable with marketing mix. University students tend to be hard to reach. Mass or undifferentiated segmentation strategy: everyone might be considered as potential user, not a common strategy, i. e. a neighbourhood bakery. Differentiated segmentation strategy: a firm targets several market segments with a different offering for each, i. e.