6. What is the difference between micromarketing and macromarketing? What subjects‚ or areas of interest‚ should be included in macromarketing? Is it a promising area for theory development in marketing? why or why not? Bullet Points: 1. Definition of micromarketing 2. Definition of macromarketing 3. Relationship or differences 4. Subjects in macromarketing 5. Special Features of marketing theory 6. Which is better? Why? 1. micromarketing Micro refers to the marketing activities of
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characteristics that the company decides to serve. 4.3.2 DESCRIBE MARKET TARGETING STRATEGY Generally‚ target marketing can be carried out at several different levels: Undifferentiated Marketing‚ Differentiated Marketing or micromarketing. 1. Undifferentiated Marketing Undifferentiated Marketing (mass marketing) strategy‚ a firm might decide to ignore market segment differences and target the whole market with one offer. This mass marketing strategy focuses on what
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ch8 Student: ___________________________________________________________________________ 1. When a marketer adjusts the marketing mix to give customers a clear‚ distinctive understanding of what the product does‚ the marketer is engaging in psychographic segmentation. True False 2. For products like pencils and paperclips‚ marketers should probably use an undifferentiated targeting strategy. True False 3. When deciding how to promote his new medical oncology center‚ Dr. Jones decided
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don’t just need a place to stay and eat; people choose a hotel for more complex reasons like the location‚ hotel category and services provided. Given that the needs and wants became more and more unique‚ the target marketing for hotels became micromarketing. It is not only a local marketing for hotels to adjust in different location and cultural‚ but also an individual marketing for they provide tailored services to special guests and VIPs. For segmenting the consumer markets‚ we have to involve
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affluent empty nesters‚ Hispanics populations would require focused target strategies (differential) to satisfy their specific wants/needs. ACNielsen defines micromarketing as‚ "the art of targeting customers at the account and store levels by matching marketing efforts to the characteristics of shoppers at specific stores." In other words‚ micromarketing is all about tailoring and customizing product assortment‚ shelf placement‚ pricing‚ services‚ trade promotions‚ even store layout and design to appeal
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Discuss the CVS Extra Care loyalty program and whether the program is a source of shopper insights that can be leveraged in multiple ways to be successful. The CVS Extra Care loyalty program was created in 2001 and is known in the United States as the largest loyalty-card program today. By developing the loyalty program CVS is able to identify buying behavior of their customers which enables them to create unique marketing techniques. CVS has created three target marketing audiences from the
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Marketing Equitable Ethnic Cultural Tourism in China Alf H. Walle Clark University at Shandong University of Science and Technology China is one of the world’s great cultural areas and‚ as such‚ many people are interested in exploring the country and experiencing its people and heritage. While many tourists focus on well known historic sites such as the Forbidden City‚ the Great Wall‚ or Mount Tai‚ the ethnic minorities of China are gaining increased attention and are spotlighted here. This growing
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This chapter looks further into key customer-driven marketing strategy decisions—how to divide up markets into meaningful customer groups (segmentation)‚ choose which customer groups to serve (targeting)‚ create market offerings that best serve targeted customers (differentiation)‚ and positioning the offerings in the minds of consumers (positioning). Chapter Objectives: 1. Define the four major steps in designing a customer-driven marketing strategy: market segmentation‚ market targeting‚ differentiation
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A REPORT ON Customer-Driven Marketing Strategy: Creating Value for Target Customers INDEX SL.NO. TOPICS PAGE NO. 1. Market segmentation 1 2. Segmenting consumer markets 2-4 3. Segmenting business markets 4 4. Segmenting International markets 5 5. Requirements for effective segmentation 5-6 6. Market targeting
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CHERY A CASE STUDY OF MARKET SEGMENTATION‚ TARGETING AND MARKET POSITIONING Introduction Built in 1997 Chery is one of the famous Chinese car manufacturers aiming at building ‘independent Chinese brand’ and is now on its way to be international. It has the capability of producing 650 thousand automobiles‚ 650 thousand engines and 400 thousand sets of gear-boxes annually. There are four sub-brands (Chery‚ Riich‚ Rely and Karry) under Chery and three types of cars (passenger cars‚ business cars
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