your assessment. Extract 1 According to Solomon et al.‚ (2009) segmentation is the classification of the whole market into different smaller sections based on the same features. There are three classifications of features – demographic‚ psychographic and behavioural. Demographics characteristics include age‚ gender‚ social class and income levels. Rolls-Royce is a luxury brand which has a higher price for those customers who can afford it. In respect to gender‚ males may be concerned about
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groups of buyers who have distinct needs‚ characteristic or behavior or who have might require separate products or marketing mix. In KFC‚ they have considered four variables for market: 1. Geographic segmentation 2. Demographic segmentation 3. Psychographic segmentation and 4. Behavioral segmentation. 1. Geographic Segmentation Dividing the market into different geographical units such as nations‚ states‚ regions‚ countries‚ cities or neighborhood. Geographically‚ KFC is used in every part of
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at multiple market segment industry‚ a few segments that can be used in the chocolate industry are demographic‚ psychographic‚ and behavioral. Demographic includes age (kids are more likely to chocolate than adults)‚ gender (Females are more likely to have cravings for chocolate than males are)‚ and life stage (parents with young children are likely to purchase chocolate). Psychographic segmentation includes personality (compulsive buyers‚ people with a sweet tooth‚ etc)‚ lifestyle (single people
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two steps involved in this stage – identifying segmentation variables and profiling the markets segments. Segmentation variables are characteristics that buyers have in common. These can be broken into 4 categories – demographics‚ geographic‚ psychographic ad behavioural. It is important to make variables easy to measure‚ readily available and linked closely to the purchase of the product in question (Elliott et al‚ 2012‚ p187.) According to a study conducted by Engelberg et al‚ “demographic information
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in the same or comparable set of needs satisfied by a distinct marketing proposition. This means that different customers all have different needs that need to be fulfilled. Segmentation can be based upon geographic location‚ demographics and psychographics. Geographic Segmentation organizes customers into groups on the basis of where they live. This creates a market based on where they can be grouped by country‚ city or town etc. For example you’ll see more Volvos in Europe than in America because
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GIORDANO HOLDINGS LIMITED Situation Giordano Holdings Limited is a clothing retail company based in Hong Kong. Started by Jimmy Lai in 1980‚ He made a company that believes in offering quality casual clothes at affordable prices. Since the opening of its 1st store‚ Giordano has experienced notable success in its different regions. Gives employees better benefits that competitors‚ gives them excellent and continuous training which leads to excellent customer service/customer satisfaction
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Introduction Lanka Backpacking is a started‚ small scale partnership among a few numbers of friends where the head office will be located in the capital city of Sri Lanka‚ Colombo. This is a service oriented business relating to wilderness and backpacking. Locals as well as tourists can select a suitable package offered by the business and enjoy the wilderness beauty and ‘mellow to extreme’ wilderness activities offered by the package. Sri Lanka is a tropical country and is also an island. According
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company’s target customers. Once the customer base is understood‚ communication to that customer base is easier. This also translates into marketing to the customer base in the most effective way possible. McDonald’s segmented its products by psychographic‚ behavioral‚ and demographic characteristics. Their products are targeted at children‚ students‚ families‚ and business-people. The immense size of these market segments is why McDonald’s targets them‚ and the growth rate projections come into
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Nowadays‚ emerging markets are becoming more and more attractive for multinational companies. Particularly the Asian market‚ headed by China‚ represents an enormous potential. Asians consumers are motivated by a complex range of cultural factors and are becoming more interested in pursuing brands to experience their reputation‚ to stand out from the crowd or to create new trends of a modern high-class lifestyle in purchasing items of established‚ mostly western brands. Especially the uprising group
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this way: Age is between 6-65.Gender is both males and females.Family size is 1-2‚ 3-4‚ 5+ Income is Rs 10‚000 n above.Family lifestyle is almost all Segmentation Psychographic segmentation Dividing a market into different groups based on social class‚ lifestyle‚or personality characteristics is called psychographic segmentation.KFC divides market on the basis of
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