Marketing Project
Taylor Lagan
Marketing 310
Dr. Pinebrook
Mid-Term
Project Part 1
Current Marketing Situation
1) Marketing Description a) Segmentation According to investopedia.com, market segmentation means grouping prospective buyers into segments based on the buyers needs and their responses to the market. "Market segmentation attempts to isolate the traits that distinguish a certain group of customers from t he overall market" (Kurtz, Principles…277). Effective market segments meet four criteria. The segment has to have adequate size and purchase power. Marketers stimulate the segment through promotions and advertisements, as well as spot segments that are substantial and sufficient. These segments are potentially profitable. The company must then search for segments with coinciding marketing capabilities. (Kurtz, Principles…276). Segmentation can be demographic, as in gender, age, generation, ethnic group, family lifestyle stage, household type, or expenditure patterns. Geographic segmentation is primarily based on location, where as psychographic segmentation uses consumers ' values and lifestyles to group people together. Product related segmentation is based on the consumers ' relationship to the product. This type of segmentation may focus on the benefits people expect from a product, the amount of product people buy and use, or brand loyalty. The best segmentation happens when marketers combine many segmentation categories and are flexible to changes. (Kurtz, Principles… 277-295). Proctor & Gamble have a vast variety of products allowing them to be a part of every segmented market group on al global scale. Geographically, P&G brands are found all over. They market their products through "mass merchandisers, grocery stores, membership club stores, drug stores, high-frequency stores, department stores, perfumeries, pharmacies, and salons in 180 countries" (CapitalQ, 2012). The company utilizes five different segments: beauty,
Marketing 310
Dr. Pinebrook
Mid-Term
Project Part 1
Current Marketing Situation
1) Marketing Description a) Segmentation According to investopedia.com, market segmentation means grouping prospective buyers into segments based on the buyers needs and their responses to the market. "Market segmentation attempts to isolate the traits that distinguish a certain group of customers from t he overall market" (Kurtz, Principles…277). Effective market segments meet four criteria. The segment has to have adequate size and purchase power. Marketers stimulate the segment through promotions and advertisements, as well as spot segments that are substantial and sufficient. These segments are potentially profitable. The company must then search for segments with coinciding marketing capabilities. (Kurtz, Principles…276). Segmentation can be demographic, as in gender, age, generation, ethnic group, family lifestyle stage, household type, or expenditure patterns. Geographic segmentation is primarily based on location, where as psychographic segmentation uses consumers ' values and lifestyles to group people together. Product related segmentation is based on the consumers ' relationship to the product. This type of segmentation may focus on the benefits people expect from a product, the amount of product people buy and use, or brand loyalty. The best segmentation happens when marketers combine many segmentation categories and are flexible to changes. (Kurtz, Principles… 277-295). Proctor & Gamble have a vast variety of products allowing them to be a part of every segmented market group on al global scale. Geographically, P&G brands are found all over. They market their products through "mass merchandisers, grocery stores, membership club stores, drug stores, high-frequency stores, department stores, perfumeries, pharmacies, and salons in 180 countries" (CapitalQ, 2012). The company utilizes five different segments: beauty,
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