Intro to Marketing - Study Notes for the Test (Continues)
Date Submitted: 09/09/2006 23:30:53
Category: / Business & Economy / Marketing and Advertising
Length: 3 pages (714 words)
Category: / Business & Economy / Marketing and Advertising
Length: 3 pages (714 words)
Psychographic segmentation is often part of an overall segmentation strategy.
Psychographic studies may be implemented to develop lifelike, 3-dimentional profiles of lifestyles of the firm's target market.
When combined with demographic and geographic characteristics , psychographics become imortant in understanding the behaviour of present and potential target markets.
BENEFIT SEGMENTATION
Benefit Segmentation is based on the attitudes of products as seen by customer.
Segments are developed by asking customers about the benefits they perceive in a …
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…- motivated by emotional or group influences.
ACHIEVERS - need to get ahead.
PRODUCT POSITIONING
POSITIONING - shaping the product and developing a marketing program in such a way that the product is perceived to be different from competitors' products.
positioning process requires analysis of features & strengths of competitive offerings, and understanding of needs and wants of the target market.
using product positioning to evaluate and develop marketing strategies in the competitive offerings.
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