preferences are increasing‚ the necessity of marketing also raised. In the study of Marketing‚ market segmentation is one of the key marketing strategies to look into. This essay is aimed to explain the concept of market segmentation and its benefits as a substitute to a mass marketing approach. Considering successful market segmentation‚ it is vital to go through three activities called STP process that should be undertaken‚ usually sequentially‚ if segmentation is to be successful (Baines et al.‚
Premium Marketing
Marketing Segmentation As stated by Finch (2012) market segmentation describes both a process and strategy by which the total market for a product is divided into smaller parts or segments (p. 158). There are four levels of marketing segmentation as described by Finch(2012) which are mass marketing‚ segment marketing‚ niche marketing‚ and customized marketing (p. 162). Mass marketing: Finch (2012) states that the seller does not differentiate between prospective buyers at all (p. 162). This is
Premium Marketing
What are the weaknesses of mass marketing‚ as opposed to segmented marketing? What advantages does a company gain from market segmentation‚ as opposed to treating the market as single entity? MASS MARKETING:- Mass marketing is a market strategy in which firm or industry treat market with single offer or one strategy. In this marketing term wide range of customers and audience are concentrated. As there is no segmentation and focusing concern so large amount of customers are possibly exposed to
Premium Marketing
Marketing segmentation Market segmentation is the process of dividing the market into dissimilar‚ distinctive groups of people who have similar needs to be satisfied‚ alike wants and behavior‚ or might want some products and services. Markets can be divided depending on a number of wide –ranging criteria. They are: geographic (region‚ county‚ climate etc.)‚ demographic (age‚ gender‚ family size‚ religion) psychographic (personality‚ life style‚ attitude etc.) behavioral (benefit sought‚ brand loyalty
Premium Marketing Apple Inc. Steve Jobs
Rhetoric 10:03:145 9/24/10 Lady Gaga: Gender in “Love Game” Many artists today are always trying to be somebody they are not. Their costumes are getting bigger and crazier than ever. One artist that exceptionally stands out in the crowd of performing artists is Lady Gaga. Every costume she wears‚ every move she makes becomes more epic every time she is seen. Most of the costumes she wears hide her identity and it is unknown who she is really trying to be. In “Love Game‚” Lady Gaga’s gender is being
Premium The Fame
Lady Gaga is a succesful American singer and songwriter that is well known throughout the world. Just like anybody trying to succeed in life‚ she experienced many failures during her journey in becoming a singer. Anyone has the chance to become succesful as long as they put in the work needed. The road to success comes with many bumps and turns‚ and Lady Gaga experienced just that. Lady Gaga was born on March 28‚ 1986 in Manhattan‚ New York. She was born with the name Stefani Germanotta with her
Premium New York City
Lady Gaga Stefani Joanne Angelina Germanotta (/ˈstɛfəniː dʒʌrməˈnɑːtə/; born March 28‚ 1986)‚ better known by her stage name Lady Gaga‚ is an American singer and songwriter. Born and raised in New York City‚ she primarily studied at the Convent of the Sacred Heart and briefly attended New York University’s Tisch School of the Arts before withdrawing to focus on her musical career. She began performing in the rock music scene of Manhattan’s Lower East Side‚ and was signed with Streamline Records
Premium The Fame
market segmentation Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs (and/or common desires) as well as common applications for the relevant goods and services. Depending on the specific characteristics of the product‚ these subsets may be divided by criteria such as age and gender‚ or other distinctions‚ such as location or income. Marketing campaigns can then be designed and implemented to target these specific
Premium Marketing
On the fifth season of FX’s American Horror Story: Hotel‚ Lady Gaga will play the character of Countess. Countess is Elizabeth‚ the owner of Hotel Cortez‚ a blood-thirsty‚ glamorous socialite and fashion icon who is constantly devising evil plans to serve her purpose in life. She needs to feed on people’s blood to maintain her youth and beauty. The 29 year-old singer‚ plays alongside the show’s regulars. Donovan(Matt Bomer)‚will be her blood-hungry lover‚ whose domesticity actually goes against
Premium Marriage Woman Macbeth
SegmentationElaboration Geographic Segmentation Geographic segmentation involves a business dividing its market on the basis of geography. Market can be divided by geographical areas‚ such as by city‚ county‚ state‚ region (such as West Coast)‚ country‚ or international region (such as Asia). It can also be divided into rural‚ suburban‚ and urban market segments. Besides that‚ climate or total population in each area can also be the segmentation. According to The Body Shop‚ they set up the stores
Premium Psychographic Marketing L'Oréal