Session 2: Segmentation And targeting

Question 1

What is segmentation

Answer 1

Division of marketplace into distinct subset of consumers with similar wants and needs (airplane designed for average example)

Question 2

3 types of goods are:

Answer 2

Search: must know before you buy (mileage on car)

Experience: don’t know till you consume (taste of wine)

Credence: don’t know even after consuming (eg cholesterol)

Question 3

Decision making unit

Answer 3

Initiator
Influencer
Decision maker
Purchaser
Consumer

Question 4

Decision making process

Answer 4

1) need or problem recognition
2) info or search for alternatives
3) evaluation of alternatives
4) purchase decision
5) post purchase behavior

Question 5

DMP audit

Answer 5

Finding out where in the process you lose consumers

Question 6

Push vs pull marketing

Answer 6

Push = help customer know about you via promotion (eg placement in a grocery store)

Pull = relies on consumer knowing what they want before entering the marketplace (eg Advil ad)

Question 7

What was the moral of the Cialis case

Answer 7

Do a segmentation to understand your competitive strengths