MRKT 4563 New Perspectives for Understanding Markets

4 semester hours

Due to the increasing individuality and diversity in consumer markets, traditional strategies for categorizing consumers into broad market segments (using classifiers such as demographic, psychographic, or geographic characteristics) are now proving ineffective. Whereas many product or advertising strategies now seek to appeal to consumers’ desire to craft a unique personal identity, marketers often undermine these goals by using clumsy or inept group stereotypes in their segmentation and targeting efforts. This class is designed to help students reinvent the market segmentation, targeting, and positioning processes needed to address the rich diversity of modern consumer markets and avoid potentially offensive blunders. Quantitative methodologies such as multidimensional scaling and conjoint analysis will be introduced and discussed.

This is an ALIST Pathway Elective course.

Prerequisites: MRKT 3510 and MRKT 3513 .