methods to segment the market effectively • Explain different methods used to segment markets e.g. ACORN‚ Mosaic • Explain the different target markets of McDonalds – identify 4 product ranges and describe in detail the target market for each product • Describe the different needs of each target segment • Use examples specific to McDonalds Segmentation Market segmentation is where marketers split the market into groups with similarities that would make it easy to target their product to
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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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this portion of the target market is important and therefore‚ should become a focus of the Athenos brand. Athenos has not yet utilized sports marketing to promote the brand‚ but with a focus on the hummus products‚ a sports overlay can be very effective to target key consumers. Athenos currently falls behind Sabra as the market leader in hummus and because neither brand currently markets their products through sports‚ this is a vital opportunity for Athenos to increase their market share and gain popularity
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brand was launched in 1978. With a market share of over 36%‚ it is India’s largest selling beer‚ with 1 out of every 3 bottles of beer sold in India being a Kingfisher brand. It is currently available in 52 countries outside India. With the change in the lifestyle of the people‚ the beer market is increasing in India. The Indian beer industry has been witnessing steady growth of 7-9% per year over the last ten years and in the last 5 years; the total beer market has seen a 10% CAGR (compound annual
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MARKET SEGMENTATION Write a white paper on a company of your choice and discuss the market segmentation within that industry along with the target market for the company and the selection process for that target market. Required Elements: No more than 2100 words Include demographic‚ psychographic‚ geographic‚ and behavioral characteristics for the selected company. A positioning statement for the company with careful consideration of their brand and strategy Paper is consistent with APA guidelines
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Target Market Many adults‚ single or married‚ that are between the ages of 21 and 54 consider their pet to be a part of the family. This is why Show Circuit Dog Food’s target market will consist of this age group. The first four categories (parents with school aged children‚ roommates‚ childless couples‚ and parents with younger or older children) are specifically the target market for Show Circuit Dog Food. To say that the dog food is for the upper class would be an overstatement by the example
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of the company background‚ product attributes‚ promotional strategies including target market and marketing mix along with the pricing strategies for XXXX Gold Beer. Our investigations suggest that XXXX Beer has good market share in the current Australian beer market. However‚ as outlined in the report falling consumption levels and an increasing number of local and international competitors could reduce this market share if action is not taken. We have suggested adjustments that could be made
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Task:3 = M1: (Merit Criteria) Explain and justify methods used to identify the target market for the proposed business a) Select three methods to identify the target markets for your business and explain why you have chosen each one. b) Use each method to identify the target market for your business. c) To justify the methods you selected‚ explain how the results of each method identified the target market for your business. d) Present the evidence you have produced for tasks 3a‚ 3b and
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How online marketers target you. (2012‚ March 2). Retrieved from USA Today website: http://usatoday30.usatoday.com/tech/news/story/2012-03-04/internet-cookies- tracking/53336396/1 Smith‚ N C; Cooper-Martin‚ E (1997‚ July). Ethics and target marketing: The role of product harm and consumer vulnerability. Journal of Marketing (v61n3)‚ 1-2. Stephenson‚ J. Is Target Marketing Ethical? (2008‚ July 24). Retrieved from Ezine Articles Website: http://ezinearticles.com/?Is-Target-Marketing-Ethical?&id=1333342
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2. Behavioural segmentation - Zero Based Planning –each imc plan should begin with a clean slate rather than a copy of what has previously been done. 8 step process: a) Identify target audience: Analyse customer and prospect segments and determine which target. B) Analyse SWOTs – determine success of the MC functions and media used C) Determine MC objectives – what marketing communication programs should be accomplished d) Develop strategies and techniques – which mc strategies will be used and
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