Chapter Seven Segmentation, Targeting and Positioning.pptVIP

Chapter Seven Segmentation, Targeting and Positioning 7.1 Market Segmentation 1. Definition: dividing a market into distinct groups of buyers with different needs, characteristics, or behavior who might require separate products or marketing mixes 2. Benefits of market segmentation The overall objective of using a market segmentation strategy is to improve a company’s strategy competitive position and better serve the needs of its customers. Four major benefits: products---meet the needs or the market place effective and cost efficient promotional strategies market competition e