Marketing Project Guidelines Topics Market Introduction of market segmentation (NOT FROM THE NOTES) Basis of market segmentation – Consumer characteristic approach - Demographic‚ Geographic‚ Psychographic‚ and Behavioral Segments. (There are many subdivisions under each base.) Consumer response approach – benefit‚ loyalty‚ usage and occasion Marketing Strategies – undifferentiated‚ differentiated and concentrated marketing strategies. Why segmentation the market Facilitates the right
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often much more data available to help with the demographic segmentation process. [edit]Psychographic Segmentation Psychographics is the science of using psychology and demographics to better understand consumers. Psychographic segmentation: consumer are divided according to their lifestyle‚ personality‚ values and social class. Aliens within the same demographic group can exhibit very different psychographic profiles. Behavioral Segmentation In behavioral segmentation‚ consumers are divided into
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product ranges including cosmetics for both women and men and home range. In this sense the general public from all age groups can be seen as potential customers. Secondly the most important variable in defining possible segmentations is based on psychographic characteristics namely lifestyle which will be discussed in detail in the next section. In additional the Body Shop brand is a quite famous national brand for beauty products in the UK and its brand image is closely
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MARKET SEGMENTATION Bases for Segmentation in Consumer Markets Consumer markets can be segmented on the following customer characteristics. * Geographic * Demographic * Psychographic * Behavioralistic 1. Geographic Segmentation The following are some examples of geographic variables often used in segmentation. Region: by continent‚ country‚ state‚ or even neighborhood Size of metropolitan area: segmented according to size of population Population density: often classified as urban‚
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are many different levels of market segmentation such as‚ geographic‚ demographic‚ psychographic‚ and behavioral segmentation (Kotler‚ & Keller‚ 2012). The geographic segmentation used when the marketers segment the market by focusing on a specific geographic area (Thomas‚ 2007)‚ demographic segmentation concentrates on gender‚ age‚ housing type‚ income‚ and the educational level (Thomas‚ 2007)‚ the psychographic segmentation is studying the customers behaviors‚ emotions‚ beliefs‚ and lifestyle (Thomas
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Geographic segmentation that divides consumers based on region‚ climate‚ domestic‚ international‚ urban‚ rural‚ and suburban. Demographic segment includes age‚ gender‚ ethnicity‚ social class‚ occupation‚ family status‚ education‚ and income. Psychographic segmentation includes values‚ beliefs‚ attitudes‚ and lifestyle to group the market. Behavior segmentation uses variables that include price‚ loyalty‚ behavioral patterns. In 1993‚ Kate Brosnahan and her husband Andy Spade launched Kate Spade
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subdivision of a market or population into segments with defined similar characteristics. Five major segmentation strategies are (1) behavior segmentation‚ (2) benefit segmentation‚ (3) demographic segmentation‚ (4) geographic segmentation‚ and (5) psychographic segmentation” ("segmentation strategies‚" 2014). Market segmentation within the industry Through its long-term marketing approach‚ Continental has become well-known as one of the leading sponsors in specialized football. One of its marketing strategy
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DEFINITION OF MARKETING MARKETING is a comprehensive term and it includes all resources and set of activities necessary to direct and facilitate the flow of goods and services from the producer to the consumer. Marketing is providing the right goods and services to the right people‚ at the right place‚ at the right time and at the right price with the right communication and promotion. It is not just about symbols and brands. It is about how we choose the products and services we want to buy.
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plan aims to ensure that Kudler Fine Foods’ (KFF) marketing plan is consistent with the demographic data and psychographic data that have been researched by the company in the past. This memo will go into detail about how to create a marketing plan that is consistent through the various media used in their marketing strategy and why it is important in terms of demographic and psychographic data collected. This plan’s goal will be to ensure effective branding across all platforms of advertising media
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classify the type of possible customers into groupings (i.e.‚ segment). Once defined as a segment‚ marketing strategies focus on influencing potential customers based on the groups shared commonalities and descriptive traits‚ such as demographics‚ psychographic‚ geographic‚ and consumer behavior. Demographics At its most rudimentary level‚ a market segments demographics is defined by the group’s similar characteristics‚ such as age‚ income‚ education level‚ social class‚ and race to name a few variables
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