Sat Midterm Exam
Sat Midterm Exam
A. Meditation
It is a mental exercise (such as focusing on Other Points to Remember:
one’s breathing or repeating a mantra) for Spirituality is a personal, subjective
the purpose of reaching a heightened level experience that varies from person to
of spiritual awareness. person.
Anyone can meditate. All we need is a time We are not born with innate spirituality.
during which we can set aside distractions Religiosity can be a starting point for
and a place where the body can be spirituality.
comfortably be brought to stillness
It can induce feelings of calm and clear-
headedness, as well as improved
concentration and attention
MARKETING MANAGEMENT approaches for different age and life-
CHAPTER 5: CUSTOMER-DRIVEN cycle groups
MARKETING STRATEGY CREATING Gender segmentation divides the
VALUE FOR TARGET CUSTOMERS market based on sex (male or female)
Income segmentation divides the
Customer-Driven Marketing Strategy: Creating market into affluent, middle-income or
Value for Target Customers low-income consumers
Topic Outline • Psychographic segmentation divides
• Customer-Driven Marketing Strategy buyers into different groups based on social
• Market Segmentation class, lifestyle, or personality traits.
• Market Targeting • Behavioral segmentation divides buyers
• Differentiation and Positioning into groups based on their knowledge,
attitudes, uses, or responses to a product
Occasions
MARKET SEGMENTATION Benefits sought
Market segmentation User status
Dividing a market into smaller segments with Usage rate
distinct needs, characteristics, or behavior that Loyalty status
might require separate marketing strategies or
mixes.
USING MULTIPLE SEGMENTATION BASES
Geographi Economic
• Segmenting consumer markets c location factors
• Segmenting business markets Political- Cultural
legal factors factors
• Segmenting international markets
• Requirements for effective
segmentation REQUIREMENTS FOR EFFECTIVE
SEGMENTATION
SEGMENTING CONSUMER MARKETS To be useful, market segments must be:
Measurabl
Geographic
Demographi
Accessible
segmentatio
c
segmentatio
e
n
n
Substantia Differentia
Psychograp
l ble
Behavioral
hic
segmentatio
segmentatio
n
n
Actionable
• Geographic segmentation divides the Measurable: The size, purchasing power, and
market into different geographical units profiles of the segmentscan be measured.
such as nations, regions, states, counties, or Accessible: The market segments can be
cities effectively reached and served.
• Demographic segmentation divides the Substantial: The market segments are large or
market into groups based on variables such profitable enough toserve.
as age, gender, family size, family life cycle, Differentiable: The segments are conceptually
income, occupation, education, religion, distinguishable andrespond differently to
race, generation, and nationality different marketing mix elements and
Age and life-cycle stage segmentation programs.If men and women respond similarly
is the process of offering different to marketing efforts for soft drinks, theydo not
products or using different marketing constitute separate segments.
Actionable: Effective programs can be designed Also known as:
for attracting and serving the segments. – One-to-one marketing
– Mass customization
– Markets-of-one marketing
MARKET TARGETING
SELECTING TARGET MARKET SEGMENTS CHOOSING A TARGET MARKET
Target market consists of a set of buyers who Depends on:
share common needs or characteristics that the • Company resources
company decides to serve • Product variability
• Product life-cycle stage
EVALUATING MARKET SEGMENTS • Market variability
• Segment size and growth • Competitor’s marketing strategies
• Segment structural attractiveness
• Company objectives and resources SOCIALLY RESPONSIBLE TARGET
MARKETING
TARGET MARKETING STRATEGIES • Benefits customers with specific needs
• Undifferentiated marketing targets the • Concern for vulnerable segments
whole market with one offer – Children
– Mass marketing • Alcohol
– Focuses on common needs rather than • Cigarettes
what’s different • Internet abuses
Superior Communicable
Preemptive Affordable
Profitable