Summary Marketing Chapter 2 - Principles of marketing; Kotler
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Course
Marketing
Institution
Hogeschool Utrecht (HU)
Book
Principles of Marketing
Summary of Chapter 2 Principles of Marketing (Kotler, Philip, Armstrong Gary,Harris Lloyd, Piercy Nigel) 7TH Edition. All the matters that are described in the chapter are summed up and where needed explained. course: MPEN-MKG-
Complete summary of book and lectures slides of Marketing I and II
Summary Principles of Marketing IB Y2Q2
Samenvatting marketing IBS jaar 1
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International Business and Management Studies / IB
Marketing
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Marketing
Chapter 7 : customer-driven marketing strategy – creating value for target customer
Target marketing, identifying markets segments, selecting one or more of them, and
developing new products and marketing programmes tailored to each.
Market segmentation
four important segmentation topics:
1. Segmenting consumer markets
- Geographic segmentation
- Demographic segmentation
Gender segmentation
Age and life cycle segmentation
Income segmentation
- Psychographic segmentation
- Behavioural segmentation
- Occasion segmentation
- Benefit segmentation
2. Segmenting business markets
Variables like:
- Operating characteristics
- Purchasing approaches
- Situational factors
- Personal characteristics
3. Segmenting international markets
- Geographic location, grouping countries by regions.
- Economic factors, countries might be grouped by population income levels or by their
overall level of economic development.
- Political and legal factors, things like stability of government, receptivity to foreign
firms, monetary regulations and amount of bureaucracy.
- Cultural factors, grouping markets according to common languages, religions, values
and attitudes, customs and behavioural patterns.
4. Requirements for effective segmentation
Market segments must be:
- Measurable
- Accessible
- Substantial
- Differentiable
- Actionable
Market targeting
Evaluating market segments
Looking at : segment size and growth, segment structural attractiveness and company
objectives and resources.
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