Market Segmentation Managerial Marketing MAR 331.

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Presentation transcript:

Market Segmentation Managerial Marketing MAR 331

Market Segmentation Global Marketing Several segments simultaneously with different marketing mixes

Market Segmentation A process of aggregation; pulling together groups of customers who resemble each other. Not really breaking large markets into smaller ones.

Market Segmentation Geographic Demographic Psychographic Behavioral

Product Differentiation Segmentation focuses on groups of customers. Differentiation emphasizes product differences to attract buyers. Both of these strategies are usually employed at the same time; not always.

Segmentation/Differentiation Classic Coke, Caffeine Free Coke, Diet Coke, Caffeine Free Diet Coke, Cherry Coke, Diet Cherry Coke Product Differentiation can occur without segmentation

Product Differentiation Cost-Benefit Tradeoff