segments‚ this allow marketers to effectively determine whether business can thrive in a particular area. Segmentation is based on four factor namely geographical‚ psychographic‚ demographic and lastly behavioral segmentation. Geographical segmentation refers to grouping markets geographically such as nations‚ states or cities. Psychographic segmentation is the dividing of buyers into groups based on lifestyle or social class/status. Demographic segmentation uses factors like age‚ gender‚ occupation
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MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA • CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are not homogeneous but they are heterogeneous. Market represent a group of customer having common characteristics but two customer are never common in their nature‚ habits‚ hobbies income and purchasing techniques. • According to Philip kotler ‚ “ Market segmentation is sub-dividing a market into distinct and homogeneous subgroups of customers
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variables‚ geographic variables‚ psychographic variables and behavioristic variables from larger markets into smaller section‚ known as segmentation. DiGi should be able to know the demographic variables of the customers such as age‚ gender‚ race‚ and the rest. In the geographic variables‚ DiGi must know the customers religion‚ the market density‚ terrain and so on. Personality attributes‚ motives‚ lifestyles of the customer would be the variables of psychographic variables. Behavioristic variables
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the common bases of market segmentation are: demographic‚ psychographic‚ geographic‚ and behavior. When we talk about demographics‚ we are mentioning age‚ gender‚ race‚ ethnicity‚ income‚ education‚ occupation‚ family size‚ family life cycle‚ religion and social class. I have already mentioned that the target market in terms of ages are young adult athletes that tend to buy more and more to play sports or use it for gym purposes. Psychographic would mean motives‚ lifestyles‚ and personality attributes
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Term paper On Consumer Behavior Toward [pic] Prepared For Md. Farhan Faruqui Senior Lecturer‚ Department of Business Administration Prepared by |Name |ID | |Mir Saif Newaz |2008-2-10-234 | |Md. Sarwaruzzaman
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Credit Union Journal. 9/5/2005. Vol. 9 Issue 35. Shoham‚ A Kalra‚ A. Goodstein‚ R. (1998). The Impact of Advertising Positioning Strategies on Consumer Price Sensitivity. Journal of Marketing Research. Volume 35. Issue 2. Wells‚ W.D. (1975). Psychographics: a critical review. Journal of Marketing Research. Volume 12. Websites Venkatesh Shankar (2001). Segmentation: Making Sure Your Customer Fits in Mastering Management. Financial Times. 22nd January.
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09/08/2011 SITUATION ANALYSIS/ TARGET MARKET IDENTIFICATION Curtin College Ms. Desiree Jones Trimester 2‚ 2011 Situation Analysis/ Target Market Identification SITUATION ANALYSIS/ TARGET MARKET IDENTIFICATION 1.0 Situation Analysis/ Current marketing Mix 1.1 Current Product A rnott‟s Tiny Teddy is a brand of sweet biscuits which has children aged between 3 – 7 years old as a primary focus market (Ryan 2002). Each biscuit is small in size and formed as a tiny bear which kids
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which will get the largest share for the company. The marketing function will therefore focus on targeting this segment. (Irish Times – Business 2000). For Nike‚ they have to breakdown the market into four categories: geographic‚ demographic‚ psychographic‚ and behavioural. For geographic‚ the country that the product will be released is within the UK. This includes all over England‚ Scotland‚ Wales‚ and the North of Ireland‚ with the main cities involved in sport being targeted. This is due to the
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MARKET ANALYSIS AND CUSTOMERS With a CAGR of 10 %‚ global market value for computing electronics application sector is anticipated to be worth US$436.7 billion by 2018. On a global scale‚ Asia-Pacific accounts for more than 35% of the market share. While US accounts for the largest share of the global market value on a country basis‚ India and China surpasses the US in terms of growth rate anticipated in the near future. Among the application sectors‚ Computer Peripherals account for the largest
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recognition. BBI had not segmented the market to target the right genre of firm: Many firms prefer to drive changes that are linked to their strategic mission. BBI had not targeted a specific kind of firm and adapt their model to appeal to that psychographic profile and organizational culture. BBI had an ineffective selling strategy because the response times from prospects were very long and sometimes leads nowhere. They overly emphasized the social benefits‚ which are frankly admirable but it
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