Values

Norms

Folkways and Mores

Roles and Schemas

Language, Dialects, Slang

Customs and Rituals

Religions

Social Institutions and Practices

Common Attitudes and Beliefs

Aesthetics (Concept about beauty)

Views Toward Education (for both genders, by wealth, incom, or social status)

Hofstede's Value Dimensions of Culture

Apply Cultural Values To Marketing Activities

Value Levels

Cultural Imperatives

Cultural Electives

Cultural Exclusives

Aesthetics

Religion

Subcultures and countercultures

Cultural change

Gender

Age

Income

Education

Ethicity

Global Consumers

Glocal Consumers

Local Consumers

1. Availability of financial resources

2. Availability of potential substitutes

3. Ability to offer attractive benefits

4. Current product availability

5.Consumer awareness of the product

Measurability: Can the segment be quantified and identified?

Accessibility: Can the segment be reached?

Profitability: Is the segment large enough to generate profits?

Actionability: Can a marketing program be designed to stimulate interest and behavioral responses (purchases)?

Segmentation by industry

Segmentation by size

Geograohic Location

Prodcuct Usage

Customer Value

Segmentation: consists of identifying all potential customer groups that are viable for purposes of marketing products and services

Targeting: component of the STP approach involves selecting the market segments the firm intends to target or each

Positioning is creating perception in the minds of consumer about the nature of a company, it brands, and its products and service.