into a highly saturated cellular phone industry‚ Virgin Mobile has decided to target the youth market. This market was underserved by existing carriers because they didn’t make money from those young consumers. Therefore‚ Virgin Mobile should develop a competitive and profitable pricing strategy for the new cellular phone service. This memo is intended to propose a new prepaid pricing plan to create market share and profit. 1. A radical and appealing pricing plan for the young consumers:
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Market segmentation‚ targeting and positioning MARKET SEGMENTATION Definition: This is the process of dividing the total market for a good or service into several smaller‚ internally similar (or homogeneous) groups. All members in a group have similar factors that influence their demand for the particular product. 4-2 BASES FOR SEGMENTATION Geographic — The city size‚ urban/ suburban/ rural population distribution and climate. Demographic — The distribution
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Market Segmentation Strategy‚ Competitive Advantage‚ and Public Policy Market Segmentation Strategy‚ Competitive Advantage‚ and Public Policy: Grounding Segmentation Strategy in Resource-Advantage Theory Shelby D. Hunt & Dennis B. Arnett Abstract Market segmentation is one of the most widely accepted concepts in marketing. Its fundamental thesis is that‚ to achieve competitive advantage and‚ thereby‚ superior financial performance‚ firms should (1) identify segments of demand‚ (2) target specific
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Task 1 What is marketing? What does the term marketing mean? Many people think of marketing only as selling and advertising. And no wonder‚ for every day we are bombarded with television commercials ‚newspaper ads‚ direct mail campaigns‚ Internet pitches and sales calls. Although they are important‚ they are only two of many marketing functions and are often not the most important ones. Today‚ marketing must be understood not in the old sense of making a sale – ‘telling and selling’ – but
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subdividing a large homogenous market into clearly identifiable segments having similar needs‚ wants‚ or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment. Few companies are big enough to supply the needs of an entire market; most must breakdown the total demand into segments and choose those that the company is best equipped to handle. Four basic factors that affect market segmentation are (1) clear identification
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Table of Contents 1.0 CASE STUDY 1 – MARKETING MANAGER IN TEXTILE COMPANY 1.1 Define and provide an understanding of the marketing concept.....................4 1.2 Explain the various elements of the marketing orientation concept................5 1.3 Identify the micro and macro environmental factors that need to be considered‚ taking into account that the company intends to go for the regional market..........................................................................................
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New Product Launch Marketing Plan‚ Part III Public relations and sales promotion will play a major part of LiveWell’s ability to stay in the growth stage‚ attract new customers‚ and keep loyal customers that wish to lead a healthy lifestyle. Healthy chocolate’s message to the public is to “Live healthier and happier with every bite”. To enforce the credibility of healthy chocolate’s message‚ all of the chocolate products can get labeled with university research on its ability to produce anti-toxins
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Product theory is used in the process of creating every product. Is there any similarities and differences? Discuss. In marketing‚ one of the challenges is how to create value of product in order to support the unique selling proposition. Before determining the perceived value in products‚ we need to know what product (Offer) is. Product is anything that can be offered to a market for attention‚ acquisition‚ use or consumption to satisfy needs and wants. There are three levels of product - core product
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Marketing Management Presented to: Prof. Sherif Elaasi Student Name: Faridah Bukhari ID#: MAM 105 Chapter 1: An Overview of Marketing What’s it all about Marketing? Marketing is the planning and implementation of four activities called 4 P’S “Marketing Mix” -‐ -‐ -‐ -‐ Product Place of Distribution Promotion Price When they are designed effectively
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| |Level: |ACL1 |Assignment Type |monthly | |Module Name: |Marketing fundamental |Assessor’s Name | | |Student’s Name: |Pradip Waghmare |Read Submission Date | 24/01/2012
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