Internal Non-Marketing
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Previous experience with a product.
Individual Influence 2) Age and Family Life Cycle Stage
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Consumer tastes in food, clothing, cars, furniture, and recreation are often
age related.
Marketers define target markets according to life cycle stages such as
"young singles" or "young married with children."
,Subculture
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A homogeneous group of people who share elements of the overall
culture as well as cultural elements unique to their own group.
Examples: Stereotypes (Body builders, alcoholics, gothic.)
Product Line Extension
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Adding additional products to an existing product line in order to compete
more broadly in the industry.
Involvement
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The amount of time and effort a buyer invests in the search, evaluation, and
decision processes of consumer behavior.
Benefits of Product Lines
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, Advertising economies
Package uniformity
Standardized components
Efficient sales and distribution
Equivalent quality
Steps in Segmenting Markets
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1. Select a market for study
2. Choose bases for segmentation
3. Select descriptors
4. Profile and analyze segment
5. Select target markets
6. Design, Implement, and maintain marketing mix
Observational Research
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Mystery Shoppers - Researchers posing as customers who gather
observational data about a store.
Behavioral Targeting (BT) - A form of observation marketing research that
uses data mining coupled with identifying Web surfers by the IP addresses.
Bases for Segmenting Business Markets 2) Buying characteristics
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, Satisficers - Business customers who place an order with the first familiar
supplier to satisfy product and delivery requirements.
Optimizers - Business customers who consider numerous suppliers, both
familiar and unfamiliar, solicit bids, and study all proposals carefully before
selecting one.
(Demographic characteristics, Decision style, Tolerance for risk, Confidence
level, Job responsibilities)
Individual Brands vs. Family Brands
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Individual Brand - Using different brand names for different products.
Family Brand - Marketing several different
products under the same
brand name.
Bases for Segmentation 1) Geography
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Region of the country or world
Market size
Market density
Climate
How does Marketing influence need recognition?
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Previous experience with a product.
Individual Influence 2) Age and Family Life Cycle Stage
Give this one a try later!
Consumer tastes in food, clothing, cars, furniture, and recreation are often
age related.
Marketers define target markets according to life cycle stages such as
"young singles" or "young married with children."
,Subculture
Give this one a try later!
A homogeneous group of people who share elements of the overall
culture as well as cultural elements unique to their own group.
Examples: Stereotypes (Body builders, alcoholics, gothic.)
Product Line Extension
Give this one a try later!
Adding additional products to an existing product line in order to compete
more broadly in the industry.
Involvement
Give this one a try later!
The amount of time and effort a buyer invests in the search, evaluation, and
decision processes of consumer behavior.
Benefits of Product Lines
Give this one a try later!
, Advertising economies
Package uniformity
Standardized components
Efficient sales and distribution
Equivalent quality
Steps in Segmenting Markets
Give this one a try later!
1. Select a market for study
2. Choose bases for segmentation
3. Select descriptors
4. Profile and analyze segment
5. Select target markets
6. Design, Implement, and maintain marketing mix
Observational Research
Give this one a try later!
Mystery Shoppers - Researchers posing as customers who gather
observational data about a store.
Behavioral Targeting (BT) - A form of observation marketing research that
uses data mining coupled with identifying Web surfers by the IP addresses.
Bases for Segmenting Business Markets 2) Buying characteristics
Give this one a try later!
, Satisficers - Business customers who place an order with the first familiar
supplier to satisfy product and delivery requirements.
Optimizers - Business customers who consider numerous suppliers, both
familiar and unfamiliar, solicit bids, and study all proposals carefully before
selecting one.
(Demographic characteristics, Decision style, Tolerance for risk, Confidence
level, Job responsibilities)
Individual Brands vs. Family Brands
Give this one a try later!
Individual Brand - Using different brand names for different products.
Family Brand - Marketing several different
products under the same
brand name.
Bases for Segmentation 1) Geography
Give this one a try later!
Region of the country or world
Market size
Market density
Climate
How does Marketing influence need recognition?
