Mktg 3131

...the process of defining a marketing problem and opportunity

...systematically collecting & analyzing information

...recommending actions to improve an organization's marketing activities

1. Defining the target Market of one type of potential buyers

2. Creating & mantaining a Marketing Mix of the 4-Ps to satisfy the needs of the Target Market

The process of comparing one company's performance on specific dimensions with the performance of other organizations

• 1. Define the problem
• 2. Develop the research plan
• 3. Collect relevant information
• 4. Develop findings
• 5. Take marketing actions

Aggregating Prospective Buyer Into Groups That:

1. Have common needs & desires

2. Will respond similarly to marketing actions

The Relatively Homogenous Groups of Prospective Buyers That Result From The Segmentation Process.

...can become a target market

1. One Product & Multiple Segments

2. Multiple Products & Multiple Market Segments

3. Segments of One a/k/a Mass Customization

The Place a Good or Service Ocupies in Consumer's Min on Important Attributes Relative To Competive Products

-Reposition: Looks to change the place a product occupies in consumer's mind on Important Attributes relative to competitor's

• 1. Head to Head Positioning
• ...when competing for similar customers

Differentiation Positioning