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Syllabus

MARCOM Targeting

Last updated: August 20, 2008

Learning Objectives
1.	To discuss the importance of targeting marketing communications to specific consumer groups and realize that the targeting decision is the initial and most fundamental of all marcom decisions.
2.	To understand how demographic, geodemographic, psychograhic, and behaviorgraphic segmentation techniques are developed for segmenting markets.
3.	To review segmentation strategies used to reach target market(s).

I. Overview of Market Segmentation

A. Market Segmentation:

 

B. What are the advantages of segmenting markets?

C. Why has marketing segmentation become the norm?

D. Criteria for developing a market segmentation

1. Measurability

 

2. Accessibility

 

3. Profitability

 

4. Actionability

II. Types of Market Segments

A. Demographic:

B. Geodemographic

 

C. Psychographic:

1. List of Values (LOV)

2. Values and Lifestyle Segmentation (VALS)

D. Behaviorgraphic

 III. Strategies for reaching target markets

A. Undifferentiated

 

B. Segmented

Further Reading:

 "Using the list of values (LOV) to understand consumers."  by Lynn Kahle and Patricia Kennedy. The Journal of Services Marketing, 2(4):49-56.

"On comparing alternative segmentation schemes: The list of values (LOV) and values and life styles (VALS)." by Thomas Novak and Bruce MacEvoy. Journal of Consumer Research, 17(June): 105-109.

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