Market segmentation notes

Need to determine the variables that distinguish marketing segments from other segments. If segmentation shows that some consumers would be more likely to buy a product than others, marketers can better allocate their attention and resources.

Bic pen, food for consumption. Segmented consumer needs must be homogeneous similar Company must be able to reach a segment with a MM, IE Review to reach Delaware undergraduates.

IE Stereo; age not religion. Creating separate products for each segment makes sense Enhanced profits for business Customers have different disposable incomes and vary in how sensitive they are to price. Marital Status Market segmentation can also be as per the marital status of the individuals.

Under Positioning -When buyers have only a vague idea of the brand The brand is seen as just another entry in a crowded marketplace. The company should evaluate the long-run profitability of the market segment.

To the consumer perception is reality.

types of market segmentation

Some examples of marketing goals… Marketing Attribution Models Marketing attribution models determine how your organization credits leads across multiple campaigns and buyer touch points.

Variables that can be used to segment markets. Cartoons on saturday Cereal boxes Sports illustrated for kids Look at how media has changed recently due to changing demographics etc. But segmenting requires more than just similar features.

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Market Segmentation