Monday, May 2, 2011

Market Segmentation

Market people or organizations with needs or wants and the ability and willingness to buy

Market Segmentation a process of dividing a market into meaningful, relatively similar, and identifiable segments or groups

1)for instance scanners used at the checkout give retailers an accurate assessment of what sells best in their certain region
2) they can appeal to local preferences.
3)To be able to react more quickly to competition

Positioning the place a product, brand, or group of products occupies in a customers minds

Repositioning changing the perception of a brand in a customers mind

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