NORTH SOUTH UNIVERSITY Term Paper on: HAMILTON WATCH COMPANY Marketing Management Submitted To: Prof. Dr. Md. Mahmodul Hasan Faculty of Business Administration MBA Program Submitted by: KOCHHOPER DIM Md. HasanSajib 141 1708 060 Shayam Arafat 133 0718 060 Subeh us Sama 141 1663 060 TauhidRahman 133 0535 060 Date of Submission: DECEMBER 20‚ 2014 Introduction The Hamilton History is a 120 years long and eventful travel from Lancaster in the US to Biel the world capital of watchmaking in Switzerland
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ch8 Student: ___________________________________________________________________________ 1. When a marketer adjusts the marketing mix to give customers a clear‚ distinctive understanding of what the product does‚ the marketer is engaging in psychographic segmentation. True False 2. For products like pencils and paperclips‚ marketers should probably use an undifferentiated targeting strategy. True False 3. When deciding how to promote his new medical oncology center‚ Dr. Jones decided
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Marketing Project Guidelines Topics Market Introduction of market segmentation (NOT FROM THE NOTES) Basis of market segmentation – Consumer characteristic approach - Demographic‚ Geographic‚ Psychographic‚ and Behavioral Segments. (There are many subdivisions under each base.) Consumer response approach – benefit‚ loyalty‚ usage and occasion Marketing Strategies – undifferentiated‚ differentiated and concentrated marketing strategies. Why segmentation the market Facilitates the right
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often much more data available to help with the demographic segmentation process. [edit]Psychographic Segmentation Psychographics is the science of using psychology and demographics to better understand consumers. Psychographic segmentation: consumer are divided according to their lifestyle‚ personality‚ values and social class. Aliens within the same demographic group can exhibit very different psychographic profiles. Behavioral Segmentation In behavioral segmentation‚ consumers are divided into
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are many different levels of market segmentation such as‚ geographic‚ demographic‚ psychographic‚ and behavioral segmentation (Kotler‚ & Keller‚ 2012). The geographic segmentation used when the marketers segment the market by focusing on a specific geographic area (Thomas‚ 2007)‚ demographic segmentation concentrates on gender‚ age‚ housing type‚ income‚ and the educational level (Thomas‚ 2007)‚ the psychographic segmentation is studying the customers behaviors‚ emotions‚ beliefs‚ and lifestyle (Thomas
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DEFINITION OF MARKETING MARKETING is a comprehensive term and it includes all resources and set of activities necessary to direct and facilitate the flow of goods and services from the producer to the consumer. Marketing is providing the right goods and services to the right people‚ at the right place‚ at the right time and at the right price with the right communication and promotion. It is not just about symbols and brands. It is about how we choose the products and services we want to buy.
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I would find demographics‚ psychographics‚ product design the most interesting segments. Age‚ gender‚ income‚ ethnic background‚ and family life cycle‚ are variables of great significance that a marketer must consider when identifying the possible target market of a particular product or service. It would seem very beneficial to a marketer to study the behavior of each demographic segment‚ and the effect each one has on the other. Unlike demographics‚ psychographics deals with segmenting customers
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plan aims to ensure that Kudler Fine Foods’ (KFF) marketing plan is consistent with the demographic data and psychographic data that have been researched by the company in the past. This memo will go into detail about how to create a marketing plan that is consistent through the various media used in their marketing strategy and why it is important in terms of demographic and psychographic data collected. This plan’s goal will be to ensure effective branding across all platforms of advertising media
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classify the type of possible customers into groupings (i.e.‚ segment). Once defined as a segment‚ marketing strategies focus on influencing potential customers based on the groups shared commonalities and descriptive traits‚ such as demographics‚ psychographic‚ geographic‚ and consumer behavior. Demographics At its most rudimentary level‚ a market segments demographics is defined by the group’s similar characteristics‚ such as age‚ income‚ education level‚ social class‚ and race to name a few variables
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and had no problems with it‚ a small price increase probably would not make them change toothpaste brand. Psychographic Psychographics are the attributes that describe the personality‚ attitudes‚ beliefs‚ values‚ emotions‚ and opinions of customers‚ and prospective customers. Demographic segmentation is who the people that buy the product are (age‚ gender‚ job) and psychographic segmentation is why people buy the product.
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