Market Segmentation
Identifies geographic similarities
geographic segmentation
Marketers set ....
Goals/Objectives
Mountain Dew Soda
Product
Which comes first? Tactics or Strategies?
Strategies
Getting a product in the right _____ at the right time.
Place
Identifies physical and social characteristics
Demographic segmentation
Strategies
What something is sold for.
Price
Firms use marketing strategies to achieve their ________.
Goals
the amount of money a business asks in exchange for its products
Price
My customer is someone who values getting their hair done every week. That falls in what segmentation group?
psychographic segmentation
What is advertising and marketing to the the most amount of people possible
Mass Marketing
Will we have a physical store, sell online, or both?
Place
A person who has an unfulfilled desire and is financially able and willing to satisfy that desire
Market
The goods, service, or ideas a business offers its customers
Designing products for well-defined groups of customers
Segment marketing
two questions marketers ask themselves before deciding to reach their goals
When do we want to reach our goal?
What resources do we have on hand?
Advertising on social media, tv, and billboards
Promotion
A group of customers identified by their similarities
Target Market
The 4 P's in the marketing Mix
Place, promotion, price, product
Identifies why,how, and when customers buy.
Behavioral Segmentation
Specific actions that will be used to carry out strategies
Tactics
I want to lose 40lbs by the end of next year. Is it a goal, strategy or tactic
Goal
Which form of marketing is easier for smaller firms?
What is segment marketing
The various types of communication that marketers use to inform or pursuade customers about their products or services
Promotion
Knowing where my target customers live is part of what marketing segmentation?
Geographic
False
I'm going to exercise more and eat better. Goal, strategy, or tactic
Strategy
My target customers are families with small children with over $100K yearly income. Which Segmentation?
Demographic
True or False - Nike is a place
False