About This Chapter
Segmentation and Product Marketing - Chapter Summary and Learning Objectives
You're likely familiar with the word 'segment,' but what does segmentation mean in a marketing context? Well, if you watch these lessons, you'll find out. Segmentation is more than simply separating potential consumers by wide-sweeping criteria. These lessons cover important concepts such as demographic, psychographic, and geographic segmentation which can be used to better target specific consumers. With these lessons, you'll learn a step-by-step process for successful market segmentation.
In addition to segmentation, these lessons cover topics that are related to the marketing of goods to consumers. Some specific concepts discussed include positioning and differentiation in consumer marketing. We'll cover a marketing-focused definition of business products. The discussion of products goes further, covering the different kinds of products consumers want to buy. These include categories like convenience, shopping, and unsought products.
This set of video lessons also covers product development. We will discuss ways for a company to grow its business by cultivating its products. Additionally, the importance of branding and brand equity are covered. Developing a deeper understanding of these essential marketing concepts is an absolute must to anyone seeking a career in marketing. Thanks for watching!
1. Market Segmentation: Why Market Segments Are Important to Marketers
Marketing managers must understand the importance of segmenting a market and the specific criteria for successful segmentation. Before the 1960's, most companies tried to market products to the masses with declining success. It is important to identify key target markets!
2. Market Segmentation: Geographic, Demographic, Psychographic & More
Marketers must be effective at creating niche segments to promote and sell their products or services. There are five specific ways that markets can be segmented in order to create a successful sales opportunity.
3. How to Segment Business Markets Step-by-Step
Discover the four segments of business marketing in this lesson. You will also learn the distinguishing characteristics of each segment so you may easily identify each of them.
4. Positioning and Differentiation in Consumer Marketing
Consumers' perceptions of products and brands are influenced by the marketing and promotional plan. Marketers must identify the key characteristics that are important to the target market and then ensure that their product stands out in the minds of the consumers as the best choice for purchase.
5. What is a Business Product: Definition for Marketers
In this lesson, you'll find out the difference between a consumer product and a business product. You will also learn about the different business categories and seven types of business products.
6. Consumer Products: Convenience, Shopping, Specialty & Unsought Products
In this lesson, you will learn the difference between business and consumer products. We will also discuss the different ways they can be classified, which include the areas of convenience, shopping, specialty and unsought.
7. Product Development and Business Growth: Process & Strategies
Product development is an essential part of any company's growth strategy. It allows for growth in sales and market share. This development, though, is a finely tuned process that we will discuss in this lesson.
8. Branding and Brand Equity in Business Marketing
Brand and brand equity go hand-in-hand in the marketing arena. Here, we will discuss how a brand develops and how that leads to increased brand equity.
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Other chapters within the Business 102: Principles of Marketing course
- Marketing Philosophies and Ethics
- Competitive Advantage
- The Marketing Environment
- International Marketplace
- Consumer Decision Making
- Business Marketing and Marketing Research
- Managing a Product and Retailing
- Services Marketing, Marketing Channels & Supply Chain Management
- Promotion, Advertising and Public Relations
- Selling and Pricing Strategy
- Studying for Business 102