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Published byRoss Beasley Modified over 9 years ago
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Market Segmentation
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Market Segemtation – placing prostive buyers into groups that have: 1.common needs 2.will respond similarly to a marketing action Product Differentiation – using different marketing mix activities to help consumers perceive the products as being different/better than the competition
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Primary vs. Secondary Target Markets Primary – markets segments that matches all the marketing activities of a product Secondary – market segments that matches some of the marketing activates of the product
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Market Product Grid framework to relate the market segments of potential buyers to products offered or potential marketing activities by the firm
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Example
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Examples of Market Segmentation magazines will use different covers based on region Different styles of shoes target different types of users
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New Trends Customer Relationship Management (CMR) – used to satisfy each customers’ unique needs and wants –next step a beyond Build to Order
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CMR vs. Synergies Synergy – increased customer value achieved through performing organizational functions more efficiently
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