BU352 Final: BU 352 - Final Exam Notes
Document Summary
Chapter 6 - segmentation targeting positioning process. Step 1 establish overall strategy or objectives. Segmentation strategy must be consistent with and derived from company mission and objectives. Develop descriptions of different segments, and their needs, wants and characteristics, helping to better understand them. Helps distinguish similarities and dissimilarities in segments. Food offered in certain neighbourhoods is different based on religions living there. Demographic: groups consumers according to easily measured, objective characteristics: age, gender, income, education, race, occupation, religion, marital status, family size, Psychographic: how consumers describe themselves: describe themselves based on characteristics that help them choose how they occupy their time and why, self values: goals for life, and how you live your life. Helps them determine self-image and of how they want to be and determine a way of life to help them arrive at these goals. Helps determine benefits that consumers are looking for in a product.
