Marketing Project Guidelines Topics Market Introduction of market segmentation (NOT FROM THE NOTES) Basis of market segmentation – Consumer characteristic approach - Demographic‚ Geographic‚ Psychographic‚ and Behavioral Segments. (There are many subdivisions under each base.) Consumer response approach – benefit‚ loyalty‚ usage and occasion Marketing Strategies – undifferentiated‚ differentiated and concentrated marketing strategies. Why segmentation the market Facilitates the right
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segmentation uses many factors that include four categories: Geographic segmentation that divides consumers based on region‚ climate‚ domestic‚ international‚ urban‚ rural‚ and suburban. Demographic segment includes age‚ gender‚ ethnicity‚ social class‚ occupation‚ family status‚ education‚ and income. Psychographic segmentation includes values‚ beliefs‚ attitudes‚ and lifestyle to group the market. Behavior segmentation uses variables that include price‚ loyalty‚ behavioral patterns. In 1993‚ Kate
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personality influences the way he or she responds to marketing stimuli‚ but efforts to use this information in marketing contexts have met with mixed results. • Consumers’ lifestyles are key to many marketing strategies. • Psychographics go beyond simple demographics in helping marketers understand and reach different consumer segments. • Identifying patterns of consumption can be superior to knowledge of individual purchases when crafting a lifestyle marketing strategy. Chapter
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segmentation by targeting customers within a 10 mile radius‚ they can do this by posting leaflets to the local area. Demographic Demographic segmentation consists of categorizing the market according to differences‚ usually with regards to the wants and needs of customer groups. It is commonly used to identify niches in need of specifically targeted efforts. The reason of demographic segmentation is to specifically target certain people in order to make sure the products are aimed at the right people
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Introduction: Tourism is one of the fastest growing and single largest industries in the world. This industry has become one of the most important factors in worldwide. It plays a significant role in socio-economic development of a country. Most of the tourists prefer to visit in different destinations for different reasons (e.g. For Business‚ Study‚ Attend international conferences‚ Vacations and holidays‚ Treatment etc.) Now a day’s most of the developing countries generating economic benefits
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consumer goods‚ I would find demographics‚ psychographics‚ product design the most interesting segments. Age‚ gender‚ income‚ ethnic background‚ and family life cycle‚ are variables of great significance that a marketer must consider when identifying the possible target market of a particular product or service. It would seem very beneficial to a marketer to study the behavior of each demographic segment‚ and the effect each one has on the other. Unlike demographics‚ psychographics deals with segmenting
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geographic segmentation‚ demographic segmentation‚ psychographic segmentation‚ and behavioural segmentation. 1. Demographics (age‚ race‚ religion‚ gender‚ family size‚ ethnicity‚ income‚ education level). This is basically the study of population. Demographic sets are the most common form of segmentation based on customer traits. The most common demographic sets are: occupation‚ religion‚ age‚ gender‚ marital status‚ education & Income. Having segmented groups using their demographics also helps to analyse
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segmentation‚ if there is a demographic group of customers who are all on diets and are watching their weight (common needs/desires) and a business markets the segment of dark chocolate as a healthier option to satisfy sweet cravings‚ this would be an example of market segmentation. On the same token if a company were to market the medical and health benefits of dark chocolate‚ a demographic that would similarly respond to this marketing action would be the health-conscious demographic. There are a few different
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ch8 Student: ___________________________________________________________________________ 1. When a marketer adjusts the marketing mix to give customers a clear‚ distinctive understanding of what the product does‚ the marketer is engaging in psychographic segmentation. True False 2. For products like pencils and paperclips‚ marketers should probably use an undifferentiated targeting strategy. True False 3. When deciding how to promote his new medical oncology center‚ Dr. Jones decided
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Plan This plan aims to ensure that Kudler Fine Foods’ (KFF) marketing plan is consistent with the demographic data and psychographic data that have been researched by the company in the past. This memo will go into detail about how to create a marketing plan that is consistent through the various media used in their marketing strategy and why it is important in terms of demographic and psychographic data collected. This plan’s goal will be to ensure effective branding across all platforms of advertising
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