BUSI 101 - CPA #11 Chapter 11 Customer-Driven Marketing 1. The first part of developing a Marketing Strategy requires selecting a Target Market. Describe each of the following strategies together with a brief practical example of each strategy. a. Total-market approach b. Concentration approach C. Multisegment approach 2. In choosing a Market Segment there are 4 categories of variables that are typically considered. Describe examples of these 4 ways of segmenting the market. a. Demographic b. Geographic C Psychographic I d. Behavioristic 3. The second part of choosing a market strategy is the Marketing Mix (Usually described as the 4 P's). Briefly describe each of the elements of the Marketing Mix: a. Product b. Price C. Distribution (usually called "Place") d. Promotion 4. Understanding Buying Behavior is key to developing a successful Marketing Plan. Briefly describe the following variables that are important understanding buying behavior. a. Psychological Variables b. Social Variables