Week 4. Chapters 8 & 9: Marketing Research & Market Segmentation

 

📚 Chapters 8 & 9: Marketing Research & Market Segmentation

     In Chapters 8 and 9, I learned how important it is to understand your customer before creating any product or promotion. These chapters taught me how companies collect data and how they divide the market into useful groups.


🔍 Chapter 8 – Marketing Research

     Marketing research is a step-by-step process that helps companies make better decisions. There are five main steps in the process:

  1. Define the problem

  2. Develop the research plan

  3. Collect information

  4. Analyze the data

  5. Take action based on findings

     I also learned the difference between primary data (new data you collect) and secondary data (already existing). Both are helpful, depending on the situation.

     Example:
     If a college wants to know what students think about their website, they could do internet surveys or interviews. Each method has pros and cons.


🎯 Chapter 9 – Market Segmentation

     This chapter explained how companies divide consumers into smaller groups called segments. Segmentation can be based on:

  • Demographics (age, gender, income)

  • Behavior (how often someone uses a product)

  • Geography (where they live)

  • Psychographics (lifestyle, personality)


     Then, companies choose which segment to target and how to position the product.


👟 My Positioning Map – Sneaker Brands

     I made a positioning map comparing brands like Nike, Hoka, Converse, and Skechers.

  • X-axis: Fashion Style → Performance

  • Y-axis: Low Price → High Price

This helped me see how different brands fit into the market and where new opportunities might be.


💡 Takeaway

     These chapters showed me how research and segmentation help companies avoid guessing and instead make smart marketing choices. I now understand how marketers really think about customers — not just to sell, but to solve problems and meet needs.


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