variables spar can consider when segmenting the market are: a) Geographic segmentation which assumes that customers within a particular geographic location‚ be it a country‚ region‚ city or even suburb may be targeted with the same product offering and market mix. This is the most common form of market segmentation; wherein companies segment the market by attacking a restricted geographic area. The following are examples of geographic variables often used in segmentation; (i) Religion by continent
Premium Marketing
psychological needs versus consumption specific behaviour or preferences towards a product. Based on this criteria the four segments business use include: -Demographic‚ based on general features of human life -Geographic‚ based on the region the consumers live in -Behavioural‚ based on the consumers preferences towards products -Psychographic‚ based on the personality traits of consumers While many companies choose to aim their marketing strategy at a single consumer base‚ many successful companies
Premium Marketing Psychology
to gain a competitive advantage within the segments (Schiffman‚ Bendall‚ O’Cass‚ Paladino‚ Ward‚ & Kanuk 2008‚ p.30). The strategy of market segmentation had been widely adopted in global countries such as China and Australia. Demographic segmentation: Demographic segmentation variables involve age‚ sex‚ marital status‚ income‚ occupation and education (Schiffman et al‚ 1998‚ p. 32-33). According to the china population profile (2012) stated that the china is the world’s most populous country
Premium Marketing Psychographic Luxury good
ways E) are four ways Answer: B Diff: 2 Page Ref: 192 Skill: Concept Objective: 7-2 5) Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be ________ segmentation. A) geographic B) benefit C) end-use D) customer E) image Answer: A Diff: 1 Page Ref: 193 Skill: Concept Objective: 7-2 6) Pendergraff Pet Supplies divides the pet market according to the owners’ race‚ occupation‚ income‚ and family life cycle
Premium Marketing Product differentiation
Marketing Segmentation Theory based on selling Oxygen bars 1) Demographic Consumer age‚ gender‚ income‚ occupation are considered to be the main factors for demographic segmentation. Other factors like race‚ religion‚ nationality is not emphasized here because product usage will be less affected by those factors. Currently‚ similar-functioned products available in the market have a wide consumer age base‚ ranging from 20+ to 50+. I believe that this age difference does reflect the difference in
Premium Marketing
Segmentation Geographic 1) Internationally – Vanilla Coke launched to all around the world but it is not success to all areas. 2) Climate- Coca 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
Premium Coca-Cola
which are identified by some common characteristics. These characteristics are relevant in explaining and in predicting the response of consumers‚ in a given segment‚ to marketing stimuli. The market can be subdivided by geographic‚ demographic‚ psychological‚ psychographic or behavioural variables. The advantages and disadvarUages of each of these types of segmentation variables are discussed in detail in this paper. Kotler {1984) has identified four requirements that a marketer can use in evaluating
Premium Marketing
3.4 Target Market Analysis As part of the analysis‚ we are segmenting the market based on demographics and psychographics. Demographic segmentation is based on financial and educational parameters. Psychographic segmentation is based on lifestyle and values. There were several factors to consider in developing a target market or markets for Goldilocks Restaurant (Goldilocks). Some of these factors were: The tastes and habits of prospective customers. That is‚ are
Premium Marketing Marketing research Psychographic
MARKETING REPORT FOR New Balance Company (Minor Assignment 2) Table Content 1.0 Introduction 2 2.0 Marketing Segmentation 2 2.1 Demographic 2 2.2 Geographic 3 2.3 Psychographic 3 2.4 Behavioral 4 3.0 Targeting 4 4.0 Positioning 5 1.0 Introduction Footwear industry in China was lucrative‚ since there was an increasingly number of people buying brand shoes and increasing franchising opportunities
Premium Athletic shoe Marketing
of multiple segments. Q2. Geographic segmentation- allows us to segment a market that is spread over a large geographic area into sub-markets that cover smaller geographic areas. Geographic segmentation usually involves dividing up geographic markets by using existing political boundaries‚ natural climatic zones‚ or population boundaries. Demographic segmentation- occurs when one or more demographic traits are employed to divide a market. Typical demographic traits that are used include age
Premium Marketing Psychographic