Principles of marketing: Lecture 17

Principles of marketing: Lecture 17 provide students with knowledge about: market segmentation; mass marketing; segmented marketing; market segmentation approach; total market approach; major steps in target marketing; segmenting consumer markets;... Please refer to this lesson for details!

MGT301 Principles of Marketing Lecture­17 Summary of   Lecture­16 Business Markets and Buying  Behavior  Model of Business Buyer Behavior Business Buying Situations Involved Decision Making New New Task Task Buying Buying Modified Modified Rebuy Rebuy Straight Straight Rebuy Rebuy Major Influences on  Business Buying Environmental •Level of demand •Economic outlook •Interest rate •Rate of technological change •Political and regulatory developments •Competitive developments •Social responsibility concerns Organizational Interpersonal •Objectives •Policies •Procedures •Interests •Authority •Status •Organizational •Empathy structures •Persuasive•Systems ness Individual •Age •Income Business •Education Buyer •Job position •Personality •Risk attitudes •Culture Problem Problem Recognition Recognition General General Need Need Description Description Product Product Specification Specification Supplier Supplier Search Search Proposal Proposal Solicitation Solicitation Supplier Supplier Selection Selection Order Order Routine Routine Specification Specification Performance Performance Review Review Today’s Topics Market Segmentation Demographic Segmentation Variables  Age  Occupation  Gender  Education  Family size  Religion  Family life cycle  Race  Income  Generation  Nationality Psychographic Segmentation Dividing a market into different groups based on social class,  personality etc Psychographic Segmentation  Variables    Social class Lifestyle Personality Behavioral Segmentation Dividing a market into groups based on consumer knowledge,  attitude etc Behavioral Segmentation  Variables     Occasions Benefits User Status Attitude Toward the Product    User Rates Loyalty Status Readiness Stage Enough for today Summary Market Segmentation Segmentation Major Steps in Target Marketing  Segmentation  Target Marketing  Market Positioning Segmentation Variables  Geographical segmentation  Demographic segmentation  Psychographic segmentation  Behavioral segmentation Next… Market Segmentation (cont ) MGT301 Principles of Marketing Lecture­17 ... Psychographic segmentation  Behavioral segmentation Next… Market Segmentation (cont ) MGT301 Principles? ?of? ?Marketing Lecture? ?17 ...Summary of? ?  Lecture? ?16 Business Markets and Buying  Behavior  Model? ?of? ?Business Buyer Behavior Business Buying Situations Involved Decision... – The needs and preferences? ?of? ?the global market are viewed  as heterogeneous varying from one group to another  Total Market Approach   The needs and preferences? ?of? ?the entire, global market