BUS203: Principles of Marketing

As the spread of the global marketplace continues, aided by satellites, the World Wide Web, and universal problems, it will also become increasingly difficult to effectively assess the market. In fact, there is solid evidence that the market will often consist of a single person or company. Customized product design, relationship marketing, and one-on-one marketing suggests that marketing has gone full circle. Like the first half of the twentieth century, when the corner grocer knew all of his customers personally, marketing in the rest of the twenty-first century may look very similar.

Review

Bases of segmentation

1. ultimate consumers

1. geographic
2. demographics
3. usage
4. psychological

2. organizations

1. type of customer
2. end uses
3. common buying factors
4. size and geography

3. single-base versus multi-base
   
   
4. qualify people into segments

1. clarity of identification
2. actual or potential need
3. effective demand
4. economic accessibility
5. positive response

5. segmentation process