MKT 304 Chapter Notes - Chapter 7-11: Target Market, Customer Service, Product Differentiation
Document Summary
Chapter 7: customer driven market strategy: creating value for target customers. Market segmentation: dividing a market into smaller segments of buyers with distinct needs characteristics or behaviors that might require separate marketing strategies or mixes. Marketing targeting (targeting): evaluating each market segment"s attractiveness and selecting one or more segments to enter. Differentiation: differentiating the market offering create superior customer value. Positioning: position the market offering in the minds of target customers. Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. Geographic segmentation: dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods. To focus on specific images of each gender and what their preference of product is. P&g was the among the first to use gender segmentation with secret, a brand specially formulated for a woman"s chemistry, packaged and advertised to reinforce the female image. c.
