product is being developed‚ in order to better determine how to communicate the brand and achieve maximum return. The target audience can be determined 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
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Market segmentation allows businesses to satisfy the diversity in a resource-effective manner and is held up as the panacea of modern marketing (Dibb‚ 2001). Marketing segmentation is more and more vital for business in the modern time. This essay‚ therefore‚ tend to introduce the concept of market segmentation first‚ then and the merits and difficulties will be illustrated. Finally‚ different approaches are going to be demonstrated. Market segmentation is the process by which a diverse market
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more than the chicken. Segmentation Demographic Segmentation In demographic segmentation‚ the market is divided into groups based on an age‚ gender‚ family size‚ income‚ occupation‚ religion‚ race and nationality. KFC divides the market on demographic basis in this way: Age is between 6-65. Gender is both males and females. Family size is 1-2‚ 3-4‚ 5+ Income is Rs 10‚000 n above. Family lifestyle is almost all. Segmentation Psychographic segmentation Dividing a market into different
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education as SKII used to state many technical and scientific terms in their advertisement. However‚ SKII does not make clear segment on occupation. Psychographic segmentation divides buyers into different segments based on social class‚ lifestyle‚ or personality characteristics. People in the same demographic group can have very different psychographic characteristics. (Kotler P. and Armstrong G. (2010) Principles of marketing (14th ed.)‚ Pearson Education‚ Inc.‚ New Jersey‚ Chapter 7) Target market
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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 – it targets whoever interested in hip-hop and retro style because their advertisement is in retro-bollywood theme. Targeting Vanilla Coke uses
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can be considered. For example‚ the auto market could be segmented by: driver age‚ engine size‚ model type‚ cost‚ and so on. However the more general bases include: • by geography - such as where in the world was the product bought. • by psychographics - such as lifestyle or
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enthusiasts between the ages of 12 to mid 30’s and professionals in current jobs where media and design is very important. It is important to note that Apple‚ Inc has done a magnificent job allocating who their main target consumer is based on Demographic and Psychographic segmentations. Internal Environment According to the case Apple has over 35‚000 employees who are extremely smart and are constantly looking for the best in Apple’s future. The question I came up with goes as follows: Is Apple looking
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practiced. Cons: Max profits is not exploited because a fleet of cars to service a range of geographic‚ demographic‚ psychographic‚ behavioral and attitudinal segments is unavailable. Which segmentation approach should be used for the Ford Ka? Demographic segmentation was advocated by management due to its historical success and the fact that data was accessible. However‚ demographic focus group results contradicted management’s view. The 40-44 year old group comprised a 32% share. Attitudinal
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be broken into 4 categories – demographics‚ geographic‚ psychographic ad behavioural. It is important to make variables easy to measure‚ readily available and linked closely to the purchase of the product in question (Elliott et al‚ 2012‚ p187.) According to a study conducted by Engelberg et al‚ “demographic information is frequently used for segmentation purposes because it the easiest data to acquire and has multiple uses.” While there are some undeniable demographic patterns to purchasing decisions
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but it requires a thorough understanding of the customers needs. It is referred as a tool for defining markets and thereby allocating resources; it uses statistical techniques called factor analysis and cluster analysis to combine attitudinal and demographic data to develop segments that are easier to
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