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Market Data Analysis Using JMP by Walter R. Paczkowski

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The Role and Importance of Segmentation

Everyone in marketing is familiar with the four Ps of marketing, also referred to as the marketing mix: Product, Price, Place, and Promotion. See McCarthy and Perreault (1987) for a discussion summarized in Figure 7.1 Classical Marketing Mix.
Figure 7.1 Classical Marketing Mix
These four Ps are tactical marketing tools used to gain or maintain a position in the market relative to the competition. Many marketing managers believe the marketing mix is the main focus of marketing efforts. They are, however, actually part of a larger strategic process that involves segmenting the market, identifying targets ...

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