Chapter 7: Target Markets

Chapter 7: Target Markets

In this chapter, we will discuss consumer buying behavior and its various influences. Key concepts:

  • Sociocultural influences
  • Segmentation, Targeting, and Positioning (STP)
  • Customer Relationship Management (CRM)
  • References group
  • Maslow’s hierarchy of needs

In the targeting case study, RC Willey Home Furnishing, you will learn how this company used leading-edge analytics such as data-driven marketing and trigger marketing in order to maximize marketing efficiency.

Chapter 8: In the Environment: Actors and Forces

In this chapter, we will discuss the impacts of the global business environment in terms of cultural, technological, economic, and political factors that may either create opportunities or threats for marketers. Key concepts:

  • Sociological and cultural influences
  • Media convergence
  • Growth in emerging nations
  • Generational cohorts
  • Sustainability
  • Retail ethnography

In the marketing environment case study, we’ll explore how a small Italian accordion manufacturer has survived despite the decline in the instrument’s popularity since its 1940s heyday. The secret lies in the ability to understand the impact of sociological, cultural, political, and legal factors and make the necessary adjustments in marketing approach..

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Former CEO, Angela Ahrendts, on the repositioning and revitalization of the Burberry brand.

 

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