1. MarketingGoldenChapter 10 MARKET Consumer –vs- Organizational 4 Requirements –Need or desire for a specific product –Ability to purchase –Willing to use buying power –Authority to buy

2. MarketingGoldenChapter 10 KEY CONCEPTS Homogeneous Market: Similar needs. Heterogeneous Market: Diverse needs. Market Segmentation: Process of segmenting. Market Segment: Groups that have one or more similar characteristics that make them have similar needs. (e.g., children 7 to 12 years old)

3. MarketingGoldenChapter 10 TARGETING STRATEGY Undifferentiated Concentrated Differentiated

4. MarketingGoldenChapter 10 CONSUMER SEGMENTATION VARIABLES Demographic Variables Geographic Variables Psychographic Variables Behavioristic Variables

5. MarketingGoldenChapter 10 CONSUMER SEGMENTATION VARIABLES: D DD DEMOGRAPHICS Age Gender Race Ethnicity Income Education Occupation Family size Family life cycle Religion Social class

6. MarketingGoldenChapter 10 CONSUMER SEGMENTATION VARIABLES: G GG GEOGRAPHIC Region Urban/Suburban/ Rural City size County size State size Market density Climate Terrain

7. MarketingGoldenChapter 10 CONSUMER SEGMENTATION VARIABLES: P PP PSYCHOGRAPHIC Personality Motives Lifestyles –Activities, Interests, and Opinions

8. MarketingGoldenChapter 10 CONSUMER SEGMENTATION VARIABLES: B BB BEHAVIORISTIC Volume usage End use Benefit expectations (sometimes classified as psychographic) Brand loyalty Price sensitivity