Kaplan GB530 week 3 discussions

Discussion 1

Introduction: Connecting with the best target market segments is a constant marketing challenge. American Express has a long history of understanding how best to use the marketing mix. VALS is a well known psychographic classification system. VALS is a tool used to explain the relationship between personality traits and consumer behavior. It uses psychology to analyze the dynamics underlying consumer preferences and choices.

To Do:

1. View theAmerican Express video (Takes about 20 seconds to open)
2. Review Figure 8.1 in the Kotler and Keller text: Major Segmentation Variables for Consumer Markets
3. Go to theStrategic Business Insights website and take the VALS survey
4. Discuss the following questions with your colleagues
• How does knowing the customer drive business success?
• How would you evaluate VALS as a method of market segmentation? Share your own VALS survey results and if you thought the outcome accurate.
• What types of products do you think would be most helped by VALS?
• Could VALS be used to market globally? Include a relevant quote from our Kotler and Keller textbook within your response.

Discussion 2

Key to effective marketing management in a global context is keeping up with current events. As outlined in Unit 1, you need to find a current event topic that interests you and relates to the material we are discussing. You can find an article from the Internet, the Webliography, Kaplan Library or any other reliable source. Remember that Wikipedia is NOT considered a credible source. NOTE: The article you find must have been written within the past 90 days. Check the Extra! Extra! tab as a starting point for your research