3.1 Market Segmentation Market segmentation refers to the process of dividing a market into a smaller group of buyers with distinct needs‚ characteristics‚ or behaviors that might require separate marketing strategies or mixes. The marketers of Haagen-Dazs in Malaysia have tried different market segmentation variables to find out the best method to market structure. The characteristics that used are geographic and demographic. 3.1.1 Geographic Segmentation Geographic segmentation divides the
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Market Segmentation: There are number of variables involved in consumer market segmentation‚ alone and in combination. These variables are: Geographic variables Demographic variables Psychographic variables Behavioral variables By using any of these segmentation bases‚ either individually or in combination‚ an organization can construct market segments for evaluation to help them select appropriate target markets. Geographic Segmentation: In geographical segmentation‚ market
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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 choice of target market
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Text 6. “STP (What is segmentation‚ targeting and positioning)?” Pre-reading discussion: 1. Why has segmentation become one of the leading concepts in marketing? 2. Can STP process be separated or is it a three-step inseparable process? 3. Can positioning be undertaken before targeting? 4. Do you know marketers well-known or even famous for their ideas about STP? Smith (1957) provided an early definition of segmentation: “Segmentation is based on the observation of evolution in demand
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MARKET SEGMENTATION‚ TARGETING and POSITIONING Objectives: At the end of the lesson‚ students will be able to: • Define market segmentation‚ market targeting‚ and market positioning. • Discuss the major bases for segmenting consumer and industrial markets • Explain how companies identify attractive market segments. • Explain how companies position their products in the marketplace. TARGET MARKETING Different Marketing Practices Organizations recognize
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innovation and reliability in its branding is Intel. Because of the fears consumers have‚ when things go wrong with technology products they react disproportionately. Take the well documented example of Intel‚ when initial faults discovered by customers after the launch of the Pentium chip by Intel were potentially devastating‚and the company was receiving up to 10‚000 calls a day from dissatisfied or unhappy customers. Good crisis management saved the day‚ and Intel regained their position of trust and
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Market Segmentation‚ Targeting and Positioning Market Segmentation Concept : Market segmentation is a concept in economics and marketing. A market segment is a sub-set of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function. A true market segment meets all of the following criteria: it is distinct from other segments (different segments have different
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IV. Market Strategies of Selected Brands Anheuser Busch Companies Demographic: From the market analysis portion of the paper we already established that internationally‚ Anheuser is expanding both into the Asian and Latin American markets. But typically what segment of the market do they target specifically? Well currently‚ the company is making an attempt to target the female population. Michelob Ultra is being marketed in women’s magazines like cosmopolitan and other AB brands are placed
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MEMO To: Warren East‚ Chief Executive Officer – ARM Holdings From: Team 8 Consultants Date: April 3‚ 2012 Subject: XXXXXXXXXXXXXXXX DECISION SUMMARY Should JBT buy Key Technologies’ sorter division for $50 Million? To answer this question‚ our team conducted an examination of the value the division will provide to both your company and your customers‚ and the effects the purchase will have on your company’s financials and yearly marketing goals. After
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(a) Segmentation bases in industrial product markets Segmenting an industrial product market introduces a number of additional bases‚ uses similar bases and also precludes some of the ones more frequently used for consumer product markets. Such bases are: • Type of application/end use e.g. adhesives for home‚ office and industrial use. 3 • Geographical e.g. Scotland‚ Wales‚ North West‚ North East‚ South East‚ East Anglia or by country/region. • Benefits sought: Closely related to the above
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