Chapter-8 Identifying Market Segments and Targets Levels of market Segments Segments marketing: A market segment consists of a group of customers who share a similar set of needs and wants. Rather than creating the segments‚ the marketers task is to identity them and decide which one (s) to target. Niche Marketing: A niche is a more narrowly defined customer group seeking a distinctive mix of benefits. Marketers usually identity niches by dividing a segments into sub segments. Local Marketing:
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“I‚ Pencil” and “I‚ Lipstick” Part 1: Leonard E. Read’s essay‚ “I‚ Pencil” is a short essay that explains important economic lessons through the point of view of a pencil. This essay teaches two important economic lessons about trade-offs and specialization. These two economic ideas are seen throughout Read’s entire essay. The lesson of trade offs is seen in this quote: “Each of these millions sees that he can thus exchange his tiny know-how for the goods and services he needs or wants. I may or
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Foundations: c. 8000 B.C.E.–600 C.E. Major Developments 1. Locating world history in the environment and time 1. Environment 1. Geography and climate: Interaction of geography and climate with the development of human society a. Five Themes of Geography – consider these 1. Relative location – location compared to others 2. Physical characteristics – climate‚ vegetation and human characteristics
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responsibility and authority of every supervisor should be expressed clearly in writing. Every person is responsible for the acts of her/his sub-ordinates. Every person should be assigned a single function (or as less functions as possible) based on specialization and skills of the person. The operation functions (line functions) and staff functions should be kept seperate but line managers and staffs managers should be encouraged to coordinate to boost synergy. The span of control
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• Scientific selection of the worker • Management and labour cooperation rather than conflict • Scientific training of workers Exhibit 3: Weber’s bureaucratic approach Structure Specialization Predictability and stability Rationality Democracy Exhibit 4: Fayol’s principles of management: Administrative theory |• Division of work (specialization) | |• Authority and responsibility | |• Discipline | |• Unity of command
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Organizational Structure Introduction Every organization needs to decide how to divide its work or activities‚ how to coordinate all work – related activities and how to control these activities to ensure that goals are achieved. The organization must consider its external environment and the internal systems and processes used to transform inputs to outputs. A manager of any organization must ensure consistency between the structure of the organization‚ the scale of its operations‚ the tasks at
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aspect of its functions. Specialization was forced upon us through hundreds of ungoverned happening and their mostly unforeseen effects; through hastened decisions in accepting and developing the machine as the only means of production; through a first unexpected but later forced gigantic growth of population‚ profit motives‚ etc.‚ all claimed today as providential or "economic" necessities. For the time being‚ very few people know that the present form of specialization is a terrible weapon against
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cost. Make sure that the opportunity cost isn’t higher than what you bought! "Opportunity cost: the next best alternative given up by choosing another item." Here is a diagram showing the whole economic problem: Division of labour/Specialization Because there are limited resources‚ we need to use them the most efficient way possible. Therefore‚ we now use production
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Quick Links Logout Jordan Wilczewski2 CoursesTab 1 of 3 (active tab) Student Resources Blackboard Store 1. ETROY Introduction to Database Syst CS-4420-XTIA 14/T2 (Niu) 2. Assessments 3. Quizzes of Chapters 4. Review Test Submission: Quiz for Chapters Two and Three ETROY Introduction to Database Syst CS-4420-XTIA 14/T2 (Niu) Announcements Start Here Syllabus Instructor Contact Course Materials Assignments Class Discussions Assessments Bb Help and Training Helpful Resources Course
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................................................................................................................................................................................................................. STAMP (IF AVAILABLE) Medical specialization (if applicable):
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