Maslow’s needs make us realize that each of us is motivated by needs in our daily life. We strive to meet our basic needs which deal with the most obvious needs for survival. Therefore‚ when the lower order needs of physical and emotional well-being are satisfied than only will one be concerned with higher order needs of influence and personal development. Since‚ without meeting lower order needs‚ we are no longer concerned about the maintenance of our higher order needs. Similarly‚ in the case
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As a part of our course Principles of marketing (IB : ) we were given an assignment to analyze marketing strategy on a specific product or service to develop our theoretical and practical skills regarding marketing. Nescafé Company Review: Coffee has come up as a substitute of traditional drink tea. Coffee is a drink made from the roasted and grounded beanlike seeds of tropical shrub of the genus Coffea. It has gained popularity among people around the world as refreshing and invigorating drink
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product is being developed‚ in order to better determine how to communicate the brand and achieve maximum return. The target audience can be determined by looking at the geographic‚demographic‚ psychographic and behavioural characteristics. GEOGRAPHIC (land or region‚ rural or metropolitan area) DEMOGRAPHIC (age‚ sex‚ marital status‚ income‚ occupation‚ education‚ religion and ethnic group) PSYCHO-GRAPHIC (social status‚ life-style type‚ personality type) BEHAVIORAL (intensity
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Market segmentation allows businesses to satisfy the diversity in a resource-effective manner and is held up as the panacea of modern marketing (Dibb‚ 2001). Marketing segmentation is more and more vital for business in the modern time. This essay‚ therefore‚ tend to introduce the concept of market segmentation first‚ then and the merits and difficulties will be illustrated. Finally‚ different approaches are going to be demonstrated. Market segmentation is the process by which a diverse market
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more than the chicken. Segmentation Demographic Segmentation In demographic segmentation‚ the market is divided into groups based on an age‚ gender‚ family size‚ income‚ occupation‚ religion‚ race and nationality. KFC divides the market on demographic basis in this way: Age is between 6-65. Gender is both males and females. Family size is 1-2‚ 3-4‚ 5+ Income is Rs 10‚000 n above. Family lifestyle is almost all. Segmentation Psychographic segmentation Dividing a market into different
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education as SKII used to state many technical and scientific terms in their advertisement. However‚ SKII does not make clear segment on occupation. Psychographic segmentation divides buyers into different segments based on social class‚ lifestyle‚ or personality characteristics. People in the same demographic group can have very different psychographic characteristics. (Kotler P. and Armstrong G. (2010) Principles of marketing (14th ed.)‚ Pearson Education‚ Inc.‚ New Jersey‚ Chapter 7) Target market
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Cola’s consumption in the summer is 60% than 40% in the winter; therefore‚ the company’s sales are higher in the summer. It also focuses in hot area in the world. Demographic 1) Age – Vanilla coke target on teenagers and adult (13-40 years old) 2) Income – middle to high income because the price is higher than the ordinary coke Psychographic 1) Lifestyle – it targets whoever interested in hip-hop and retro style because their advertisement is in retro-bollywood theme. Targeting Vanilla Coke uses
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can be considered. For example‚ the auto market could be segmented by: driver age‚ engine size‚ model type‚ cost‚ and so on. However the more general bases include: • by geography - such as where in the world was the product bought. • by psychographics - such as lifestyle or
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enthusiasts between the ages of 12 to mid 30’s and professionals in current jobs where media and design is very important. It is important to note that Apple‚ Inc has done a magnificent job allocating who their main target consumer is based on Demographic and Psychographic segmentations. Internal Environment According to the case Apple has over 35‚000 employees who are extremely smart and are constantly looking for the best in Apple’s future. The question I came up with goes as follows: Is Apple looking
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practiced. Cons: Max profits is not exploited because a fleet of cars to service a range of geographic‚ demographic‚ psychographic‚ behavioral and attitudinal segments is unavailable. Which segmentation approach should be used for the Ford Ka? Demographic segmentation was advocated by management due to its historical success and the fact that data was accessible. However‚ demographic focus group results contradicted management’s view. The 40-44 year old group comprised a 32% share. Attitudinal
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