also be applied to businesses and organizations‚ the sheer nature of these eventually leads to other specific segmentation bases. Consumer markets have four types of segmentation which is geographic segmentation‚ demographic segmentation‚ psychographic segmentation and behavioral segmentation. 1.1 Geographic
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based on the demographic variables‚ geographic variables‚ psychographic variables and behavioristic variables from larger markets into smaller section‚ known as segmentation. DiGi should be able to know the demographic variables of the customers such as age‚ gender‚ race‚ and the rest. In the geographic variables‚ DiGi must know the customers religion‚ the market density‚ terrain and so on. Personality attributes‚ motives‚ lifestyles of the customer would be the variables of psychographic variables
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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 of product use‚ brand loyalty‚ user behaviour) An example of the target audience for Honest Tea would be: Geographic: World‚ Northern
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Market segmentation- is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs. Because each segment is fairly homogeneous in their needs and attitudes‚ they are likely to respond similarly to a given marketing strategy. That is‚ they are likely to have similar feeling and ideas about a marketing mix comprised of a given product or service‚ sold at a given price‚ distributed in a certain way‚ and promoted in a certain way.
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segmentation strategies can be described more effectively in many different variables which results in the marketing segmentation‚ there are different forms of segmentations available like the democratic‚ geographic‚ behavioral and psychographic segmentation. (Gillian Mc Ghee‚ 2008) The psychographic segmentation is something depending on the interest‚ activities‚ attitudes and hobbies of the customers towards the products and the dignity of loyalty maintained. What the people look around is the cheaper
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secondary research. In this report‚ Haagen-Dazs is seem as five macro environmental forces impacting the company’s environment‚ they are political‚ Legal‚ sociocultural‚ economic and technological. The marketers of Haagen-Dazs have tried geographic‚ demographic and psychographic segmentation to find out the best method to market structure. Haagen-Dazs is belonging to brand competition and the aim target consumers are the youngers are examined in depth in this report. 2.1 Segmentation Variables Segmentation
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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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Chapter 8 1. Explain what market segmentation is and when to use it. Market segmentation is to aggregate potential buyers into groups that have common needs and will respond similarly to a marketing action. Market segments are the relatively similar groups of potential buyers that result from the market segmentation process. The existence of different market segments has caused firms to use a marketing strategy of product differentiation. This strategy is related to using different marketing
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people. Often‚ dividing consumers by clearly defined criteria will help the company identify other applications for their products that may not have been obvious before. These revelations often help the company target a larger audience in that same demographic classification‚ improving market share among a specific base. Segmenting the market can also serve to identify smaller groups of people who make up their own‚ previously unknown subsets‚ further improving the overall efficiency of the company’s
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SEGMENTATION: An organization cannot satisfy all the needs and wants of all the consumers. Therefore‚ Market is divided into different segments so an organization can focus on the needs and wants of the specific consumers who share similar needs and demonstrate similar buyer behavior. In the world‚ there are different types of buyers with their own needs and behavior. Segmentation is the process to match groups of the purchasers with same needs and wants. Market segmentation: The division of a
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