by some common characteristics. These characteristics are relevant in explaining and in predicting the response of consumers‚ in a given segment‚ to marketing stimuli. The market can be subdivided by geographic‚ demographic‚ psychological‚ psychographic or behavioural variables. The advantages and disadvarUages of each of these types of segmentation variables are discussed in detail in this paper. Kotler {1984) has identified four requirements that a marketer can use in evaluating the desirability
Premium Marketing
Target Market The outlets of KFC are in luxury district and the prices are too expensive such as overhead expenses rent‚ air conditioning‚ employees. So‚ KFC target supper and middle classes. Target market is depending on size and growth rate of population‚ company resources and structural attraction of market segment. Location Hectic lifestyle of personal that let them more time at work and less pressure about waiting for food. The commercialization of urban and suburban markets resulting in
Free Middle class Working class Social class
affected due to combat and some need help transitioning from military life to a civilian. As the director of for a military veterans foundation I must raise money to create a fallen heroes monument. The first step is to identify the demographic and psychographic in my development. For demographics we would need to make the location an area that it has a good support system for veterans. After doing a lot of research Arlington‚ Virginia has many support systems in place for veterans. Here also lays the
Premium Military Armed forces Veteran
of its effective size‚ (3) its accessibility through promotional efforts‚ and (4) its appropriateness to the policies and resources of the company. The four basic market segmentation-strategies are based on (a) behavioral (b) demographic‚ (c) psychographic‚ and (d) geographical differences. Geographic segmentation: Where? A market can be divided according to where consumers are located. On a trip abroad you might have noticed that people enjoy more outdoor activities than back home. You could
Premium Marketing
education as SKII used to state many technical and scientific terms in their advertisement. However‚ SKII does not make clear segment on occupation. Psychographic segmentation divides buyers into different segments based on social class‚ lifestyle‚ or personality characteristics. People in the same demographic group can have very different psychographic characteristics. (Kotler P. and Armstrong G. (2010) Principles of marketing (14th ed.)‚ Pearson Education‚ Inc.‚ New Jersey‚ Chapter 7) Target market
Premium Marketing
the ’compatibility’ days But anyway‚ the ’compatibility’ problem dies when the people who believe in it are not young anymore. Market Segmentation The market segmentation includes: Demographical bases. Geographical bases. Behavior bases. Psychographic bases. 2.1 Demographical bases (age‚ family size‚ life cycle‚ occupation) Looking into Apple‚ the Demographical market segment is successful because they are developing products on the age‚ life cycle‚ occupation of the people. They are distributing
Premium Marketing
Marketing Reading Guide Chapter 2 The Market Plan What is a SWOT analysis and would does the acronym stand for. Strength‚ Weakness‚ Opportunities‚ and Threats What are the internal factors of SWOT analysis? Some internal factors of SWOT analysis are the three C’s. Company‚ customers‚ and competition What are the external factors of SWOT analysis? Opportunities and threats Discuss some of the questions that would be involved with both analysis? Questions Include: reviews of the staff
Premium Marketing
Q1. The pure and strong cola drink comes with all power packs. By looking at Red bull cola drink and its profile‚ I would prefer to target two market segments specifically; behavourial and psychographic. I will pre-dominantly be focusing at behavourial segmentation. As it going to speak much about product’s quality. BEHAVOURIAL SEGMENTATION: Behavourial segmentation is the major segmentation which I would like to focus in order to be succeeded in capturing market. The very vital point through
Premium Coca-Cola Caffeine Red Bull
can be segmented based on the following customer characteristics: geographic‚ demographic‚ psychographic‚ and behavioral. Vitamins‚ like other complex consumer products with expansive varieties‚ need to be segmented using multiple variables. There are many different consumers in this market buying vitamins to fill many various needs. Since consumers often possess largely diverse demographic and psychographic profiles‚ no single product can effectively target and serve the entire vitamin market. Using
Premium Marketing Dietary supplement Target market
Marketing 100 Assignment 1 Title: Target Market Report : Beyonce Name: William Heng Wui Seng Student ID: HWWSD101 Lecturer: Mr. Chris Bright Class time: Wednesday‚ 1.30pm – 5.30pm Market Segmentation. 1.0 Segmentation Theory. Market segmentation is a concept in economics and marketing. It is a strategy that involves dividing a larger market into subsets of consumers who have common needs and applications for the goods and services offered in the market. `What’ is market segmentation’
Premium Marketing