ASSIGNMENT ESSENTIALS OF MARKETING BUS 400 Prepared for Mr. Jimmy Kelana Lecturer of Essentials of Marketing Prepared by Devi (B30611231) 5th April 2004 Kensington Institute Indonesia Market Segmentation is the process of dividing a market into direct groups of buyers who might require separate products or marketing mixes. There are several major bases for segmenting the market; they are geographic‚ demographic‚ psychographic and behavioral variables. Geographic segmentation Geographic
Premium Marketing Psychographic
The purpose of market segmentation is to enable the marketer to adjust marketing mixes (product‚ price‚ promotion‚ place) to meet the needs of one or more specific segments. Basically marketers use the market segmentation process to divide big markets into smaller segments according to characteristics of individuals‚ different groups and locations. Adidas the largest sportswear manufacturer in Europe and the second biggest sportswear manufacturer in the world markets by looking at buying attitudes
Premium Marketing
Find a product of two example businesses in your country or region‚ from your own experience or from your reading. If you cannot find such examples‚ use one or two case studies from your textbook or obtain one or two case studies from your local lecturer. Be sure to cite and reference the name and source of your case(s) in your assignment report. The product of one business should be mainly a good and the product of the other business should be mainly a service. a) Explain how the example
Premium Marketing
Segmentation Segmentation is essentially the identification of subsets of buyers within a market who share similar needs and who demonstrate similar buyer behavior. The world is made up from billions of buyers with their own sets of needs and behavior. Segmentation aims to match groups of purchasers with the same set of needs and buyer behavior. Such a group is known as a ’segment’. Think of you r market as an orange‚ with a series of connected but distinctive segments‚ each with their own profile
Premium Marketing
Segmentation When entering a market‚ an organisation needs to identify its customers and what its customer needs are. A business can’t go into a market with a product and expect to sell it‚ because the demand for the product may not be there. It is important for the business to plan thoroughly before entering a market and understand the diverse nature of a market. For example‚ a market may have large range of consumers who have different tastes‚ preference and needs. So this is where the concept
Premium Marketing
1. Describe in your own words‚ market segmentation‚ give an example of how a market may be segmented‚ and explain the reason for segmentation. 2. Explain the principles of targeting and give two examples of a targeted market. 3. Discuss what is meant by positioning using two example of a business positioned in differing market sectors Marketing consists of a range of techniques designed to sell a product/service. It focuses on customers and their needs‚ firms generally undertake research
Premium Marketing
Table of Contents Introduction 2 Question 1 – Customer Decision Making Model 3 Question 2 – Market segmentation and iPad market 6 Conclusion 8 References 9 Introduction This assignment analyzes two questions‚ which are customer decision making model (CDMM) and market segmentation. Customer decision making model is a decision making process of a customer before buy a product. In the process‚ purchase decision consider as
Premium Marketing
1. Write an introduction to your company. Describe your company‚ its location‚ and the product it makes or the service it provides. Describe the company Type your answer here Discuss the company’s location Type your answer here Discuss the company’s product(s) Type your answer here 2. Develop an environmental analysis that includes competitive‚ economic‚ political‚ legal‚ technological‚ and sociocultural forces. Discuss the competitive environment Type your answer here Discuss the economic environment
Premium Goal Economics Management
Target market A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards.[1] A well-defined target market is the first element to a marketing strategy. The marketing mix variables of product‚ place (distribution)‚ promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace. Market segmentations Target markets are groups of individuals that are separated
Premium Marketing
Market Segmentation The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are "most likely" to purchase your offering. If done properly this will help to insure the highest return for your marketing/sales expenditures. Depending on whether you are selling your offering to individual consumers or a business‚ there are definite differences in what you will consider when defining market segments. Market segmentation is a marketing
Premium Marketing