MARK 101: Mid-Trimester Test QUESTIONS [TOTAL 45 MARKS] Please circle the letter corresponding to the best answer and also write this letter in the margin beside the question. Attempt all questions as there is no penalty for guessing. 1. The target market includes: A. all potential consumers that make up a market B. all potential consumers that have a desire for a product C. all potential consumers at which an organisation directs its marketing program D. all potential consumers that have
Premium Marketing
Unit 3: Marketing travel and tourism Task 3 (AO3) [pic] Overview: Market segmentation can be done in various ways. Most companies choose to use not just one but a combination of methods: 1.Demographic segmentation Demographics is the study of the make-up of the population. Demographic trends illustrate how the population is changing. Factors that affect the make-up of the population include the birth rate and life expectancy. When demographic segmentation is used‚ consumers are grouped
Premium Marketing Strategic management Brand
special marketing variables in trying to reach a specific target market‚ they do not limit their products nor reject any other customers outside of that specific target market. Using psychographic variables‚ advertising in certain locations is an example of how Harley-Davidson reaches out to their target market. Psychographic segmentation variables mainly concentrate on its customers according to their personal attributes‚ motive‚ and lifestyle. The company also markets their magazines to both women and
Premium Harley-Davidson Motorcycle
WAFFLE Felix Huertas Street corner A.H. Lacson Extension‚ Sta. Cruz‚ Manila Nature of business Rank in the industry & 2012 sales Popular brands marketed in the Philippines Target Market Demographic Geographic Psychographic Behavioral Demographic Geographic Psychographic Behavioral Positioning Product Strategies Package sizes -“Franchise package” Package Cost – Php250‚000.00 (net of taxes) Franchise Fee – Php50‚000.00 Security Deposit – Php50‚ 000.00 (refundable upon expiration
Premium Marketing Sales Manila
Market This section of the marketing plan will be covering the target market for the M.A.C Bronzing Powder in “Refined Golden”. A target market is who the company specifically advertises its brands or products to. Demographic‚ geographic‚ psychographic‚ and behavioral segmentations must be analyzed when considering the target market. Demographic Segmentation The primary target market of the M.A.C Bronzing Powder in “Refined Golden” is young women. “The line targeted young‚ socially conscious
Premium Cosmetics Psychographic Brand management
Consumer Behavior Report ‘Canon’ Jeanette Thong Su-Xian FT DipCom LM/MM 4 Mahum Jafer 4th June 2012 Situational Analysis Canon ’s strategies have been very effective in balancing growth of market share with profitability‚ with the firm controlling a significant share of focused niche markets in the imaging industry. Canon ’s strategic challenges involved identifying the markets in which it intended to compete and developing competitive advantages
Premium Strategic management Marketing Target market
identify a profile of the typical customer to be found in each segment‚ which will guide them in what marketing strategy to use to reach the segment in question. c) Psychographic segmentation which involves the breaking up of the market in terms of attributes such as social class‚ lifestyle and personality. Psychographic variables refer to the inner or intrinsic qualities of individual consumers. Using this base‚ marketers are able to segment markets
Premium Marketing
The basis of market segmentation: a critical review of literature. 1) Introduction Marketing has become vital ingredient for every business success. It has almost become difficult for every competitor to survive in market for a prolonged period because competition is cut to throat. That is why development of right marketing strategy over time is required. Right marketing strategy is something that helps companies to achieve marketing objectives. The strategy of dividing the market in homogenous
Premium Scientific method Sociology Research
Mkg203 Marketing segmentation Market segmentation is the process that dividing a market into different subgroup based on the customer’s needs and wants or characteristics and to gain a competitive advantage within the segments (Schiffman‚ Bendall‚ O’Cass‚ Paladino‚ Ward‚ & Kanuk 2008‚ p.30). The strategy of market segmentation had been widely adopted in global countries such as China and Australia. Demographic segmentation: Demographic segmentation variables involve age‚ sex‚ marital status
Premium Marketing Psychographic Luxury good
segmentation is dividing a market into smaller segments of buyers that have distinct needs characteristics‚ or behaviors that require separate marketing strategies. The consumer markets can be segmented into the following: geographic‚ demographic‚ psychographic and behavioral segmentation. Darden is successful in segmenting each of these markets. Geographic segmentation is when a market is divided into different geographical units. An example of this type of segmentation in Darden is the Long Horn restaurants
Premium Marketing Darden Restaurants Psychographic