8 Principles of Marketing Identifying Segments and Targets – Part 2 Market Segmentation Segmenting Consumer Markets Demographic segmentation divides the market into groups based on variables such as age‚ gender‚ family size‚ family life cycle‚ income‚ occupation‚ education‚ religion‚ ethnics‚ generation‚ and nationality It is the most popular segmentation method‚ because consumer needs‚ wants‚ and usage often vary closely with demographic variables‚ and they are easier to measure
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Table of Context Executive Summary Introduction The company was founded in 1964 by a student of Phil Knight‚ middle-distance runner at the University of Oregon team‚ and his coach Bill Bowerman. Initially it was called Blue Ribbon Sports and specialized in the order of athletic footwear in Asian countries and resell them in the U.S. market. Upon graduating Knight wrote a paper that proposed quality running shoes could be manufactured in Japan. But his letters to manufacturers in Japan
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Luna Park Aquatica Byron Bay Claudia Waller s42924740 Anna Nicklin s42616287 Tutor: Edward Guglielmino Submission Date: 25 October 4pm Claudia Waller s42924740 Facility Design Contents Page 1.0 2.0 3.0 4.0 5.0 6.0 Introduction……………………………………………………………..3 1.1 Literature Review………………………………….……….……4 Target Market 2.1 Market Segmentation……………………………….………....5 2.1.1 Backpackers.……………………………..……………..……6 2.1.2 Families with young children…….………………….………7 2.1.3 Day-trippers…………………………………
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Darden’s strategy in regards to the Red Lobster chain is an excellent example of Demographic Segmentation. He identified the gap between the white tablecloth style restaurant and the fast food chain and he filled that void with Red Lobster. Psychographic Segmentation – Darden’s Olive Garden chain of restaurants have effectively created a contrived Italian family to ensure that those customers seeking emotional nourishment find what they are looking for. Olive Garden marketing discovered that their
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will have a high purchasing power. This is because the Gucci’s watches are branded and the price is expensive. In other words‚ it is also targeting the high income people and it is purchased by both genders‚ either male or female. 2.3 Psychographic Segmentation The social class of people that will be targeted in this brand will be the high class people‚ with high income and also well educated. Besides‚ consumer that purchases this brand will most probably spend their time or have
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1. When strategizing segmentation for the suburban markets‚ M&M Meat Shops will first need to look at demographics. They have already formed a specific target market focusing on Generation X women (35 years +)‚ and where these consumers are geographically located‚ which in this case are the suburbs. This strategy however fails to incorporate the needs and wants for this market. To better create value‚ M&M Meat Shops will need to focus on geodemographics‚ which combines the demographic‚ geographic
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Purpose This report will suggest why Timex Group should pursue the development of an activity/sleep-tracking wristband along with a supporting app. It provides an analysis of the technological and behavioral changes that motivated the initial capital investment in the creation of self-tracking gadgets. The report also examines existing devices and their key features‚ potential growth of the market and a study indicating an ideal location for test of the product. We‚ at Sage‚ know that the
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residents should be done advance the festival. • Second‚ as the demographic segmentation shows that the young and middle aged people are the main consumers‚ so the activities should be planned for the people in this age range. • Third‚ as the psychographic segmentation show that the visitors may travel around Edinburgh for a couple of days‚ the potential in promoting the benefits of accommodation within easy commuting distance is also a good business choice. • Forth‚ as the "positive" market segmentation
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Market Segmentation Market Segmentation means breaking down the total market into self contained and relatively homogeneous subgroups of customers‚ each possessing its own special requirements and characteristics. This enables the company to modify its output‚ advertising messages and promotional methods to correspond to the needs of particular segments. Accurate segmentation allows the firm to pinpoint selling opportunities and to tailors it’s marketing activities to satisfy on consumer needs.
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Segmentation: Region: Islamabad Density: Blue Area and F-10 Markaz Demographic Segmentation: Age: 30+ Gender: Female Income: Rs: 60000-100000/month Family Life Cycle: Married‚ with children Social Class: Upper Middles‚ Lower Uppers and Upper classes Psychographic Segmentation: Personality: Decent‚ Tasteful‚ and Ambitious Behavioral Segmentation: Occasions: Marriages‚ Newly Constructed Houses Benefits: Comfort and Style Attitudes: EnthusiasticKids’ Furniture The arrival of a child in a family creates a need
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