the investment implicated in segmentation. (Baker‚ 1995) Markets can be segmented using a variety of philosophical approaches. In terms of operationalizing these approaches‚ demographic approaches‚ geographic approaches‚ socio-economic approaches and psychographic approaches are commonly used. There are a number of demographic-related bases for segmenting markets such as age‚ the stage in the family life-cycle‚ gender‚ ethnic group and household composition. Age segmentation is one of the most widely
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relations with consumers that will result in return customers. Budget: Total Budget: $20‚693.94 Special Events: $5‚200.00 Sales Promotion Activities: $1‚800.00 Advertising Media Selection: $12‚290.00 Target Market: | Demographic | Geographic |
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Market Profile Worksheet Page 1 of 1 1. Demographic market description: Describe the demographic details of your target market. The following items include general descriptive categories you might identify for your customers. Skip items which are not applicable and add items that are. • Age range • Income range • Sex • Occupation • Marital Status • Family size • Ethnic Group • Level of Education • Home ownership • Other 2. Geographic market description: • Area served (city
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Analysis/Current Marketing Mix 2.1 Current Product 2.2 Current Pricing 2.3 Current Distribution 2.4 Current Promotion 3.0 Brand Positioning Theory 3.1 Define Brand Positioning 4.0 Target Market Identification 4.1 Geographic Segmentation 4.2 Demographic Segmentation 4.3 Psychographic Segmentation 4.4 Behavioural Segmentation 5.0 References List: 11 1.0Introduction BMW Group is one of the largest and most successful multi-brand automobile manufacturers in the world‚ headquartered in
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segmentation is divided into three main segments * Geographical segmentation * Demographic segmentation * Psychographic segmentation 1. Geographical segmentation: The market is divided according to geographic criteria like nation‚ state‚ religion‚ countries etc. Geographic data create accurate profile of specific. For eg: in rainy season sells rainy clothes (like raincoat‚ umbrella etc) 2. Demographic segmentation: it divide to the market into groups according to variable in age‚
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A target audience can be formed of people of a certain age group‚ gender‚ marital status‚ etc.‚ e.g. teenagers‚ females‚ single people‚ etc. A combination of factors‚ e.g. men aged 20–30 is a common target audience. Other groups‚ although not the main focus‚ may also be interested. Discovering the appropriate target market(s)and determining the target audience is one of the most important activities in marketing management (Niewenhuizen et al. 2000). The biggest mistake it’s possible to make in targeting
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organizations segmentation strategy is primarily geographic. The company focuses on the Canadian market‚ including all provinces and territories of the country. Based on what the organization wants to accomplish Scouts Canada should dedicate their marketing strategies to study and segment the market based on demographics (age‚ family size‚ life cycle) and psychographics. Demographic Segmentation fragments the market into categories according to different demographic factors‚ usually with regards to the
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understanding what each consumer segment wants‚ SIA has been able to create value for each of these segments. Bases for segmentation includes: geographic‚ demographics‚ psychographics‚ and behavioral. Geographic: SIA customers are located globally as evidence by its passenger services to more than 60 cities in over 30 countries around the world. Demographics: Passengers who travels by Suite class and First class are predominantly males aged 25 to 45 years old. These people travel for business purposes
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The basis of market segmentation: a critical review of literature. 1) Introduction Marketing has become vital ingredient for every business success. It has almost become difficult for every competitor to survive in market for a prolonged period because competition is cut to throat. That is why development of right marketing strategy over time is required. Right marketing strategy is something that helps companies to achieve marketing objectives. The strategy of dividing the market in homogenous
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Introduction Lanka Backpacking is a started‚ small scale partnership among a few numbers of friends where the head office will be located in the capital city of Sri Lanka‚ Colombo. This is a service oriented business relating to wilderness and backpacking. Locals as well as tourists can select a suitable package offered by the business and enjoy the wilderness beauty and ‘mellow to extreme’ wilderness activities offered by the package. Sri Lanka is a tropical country and is also an island. According
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