MCS 1000 Lecture Notes - Lecture 9: Mass Customization, Marketing Mix

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Raffi Sarmazian

Document Summary

Chapter 9 market segmentation, targeting and positioning. Aggregating prospective buyers into groups: with common needs, that respond similarly to a marketing action. Market segments the relatively homogeneous groups of prospective buyers that result from the marker segmentation process. Product differentiation using different marketing mix activities to help customers perceive the product as being different from competing products. A framework to relate market segments of potential buyers to products offered or potential marketing actions by the firm. Avoid extra costs of developing additional versions. Effecti(cid:448)e if it does(cid:374)"t (cid:396)educe (cid:395)uality o(cid:396) i(cid:374)c(cid:396)ease p(cid:396)ice (cid:862) eg(cid:373)e(cid:374)ts of o(cid:374)e(cid:863) mass customization. Tailoring goods or services to the tastes of individual customers on a high-volume scale. Organizational synergies - occurs when people and processes merge seamlessly to continuously expand the ability of the organization to deliver products and services to its customers, while maintaining competitiveness.