Explain how and why groups of customers are targeted for selected products What is segmentation? Market segmentation is the division of a market into sub groups with similar characteristics. A business can then target these groups and develop products and services for each of them. There are several ways in which consumers can be split up into. These is geographically which includes location‚ demographically which includes gender‚ social class‚ age‚ income‚ ethnicity or religion‚ psycho graphically
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company or business to effectively respond to different customers needs and wants in order to increase sales‚ they make use of market segmentation. Market segmentation as defined by Kerin‚ author of Marketing‚ 10e; involves grouping potential customers who have common needs and will respond similarly to a marketing action. In further elaboration to define segmentation‚ if there is a demographic group of customers who are all on diets and are watching their weight (common needs/desires) and a business
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Market segmentation allows businesses to satisfy the diversity in a resource-effective manner and is held up as the panacea of modern marketing (Dibb‚ 2001). Marketing segmentation is more and more vital for business in the modern time. This essay‚ therefore‚ tend to introduce the concept of market segmentation first‚ then and the merits and difficulties will be illustrated. Finally‚ different approaches are going to be demonstrated. Market segmentation is the process by which a diverse market
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Marketing Segmentation Theory based on selling Oxygen bars 1) Demographic Consumer age‚ gender‚ income‚ occupation are considered to be the main factors for demographic segmentation. Other factors like race‚ religion‚ nationality is not emphasized here because product usage will be less affected by those factors. Currently‚ similar-functioned products available in the market have a wide consumer age base‚ ranging from 20+ to 50+. I believe that this age difference does reflect the difference in
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SEGMENTATION (Harish pg3) The process of defining and subdividing a large homogenous market in to clearly identifiable segments having similar needs‚ wants or demand characteristics .Its objective is to design a marketing mix that precisely matches the expectation of customers in the targeted markets. Bases for segmentation Geographic segmentation -: Geographic segmentation calls for division of market in to different geographical units such as nations‚ states‚ regions
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MANAGEMENT GROUP MEMBER: NICKY ISIS RAHAT ALI INTRODUCTION BACKGROUND § KFC is the world’s No.1 Chicken QSR. § Leading in UK‚ Australia‚ South Africa‚ CHINA‚ USA‚ Malaysia and many more. § Introduced many offerings for its growing customer base in India while staying rooted in the taste legacy of Colonel Harland Sander’s secret recipe. § Products are made on the motto of“Crispy outside‚ juicy inside. § KFC is based in Louisville‚ Kentucky‚ and is the world’s most popular chicken restaurant
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Kentucky Fried Chicken and the Global Fast-Food Industry: KFC : world’s largest chicken restaurant chain and third largest fast-food chain in 2004 One of the first fast-food chains to go international‚ one of the world’s most recognizable brands. KFC’s early international strategy: grow its company and franchise restaurant base throughout the world refocused in 2004 on several high growth markets (China‚ Canada‚ UK‚ Australia‚ South Africa‚ and more) company-owned restaurants (greater control
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in Great Britain 0160-7383/$30.00 doi:10.1016/j.annals.2004.05.001 MARKET SEGMENTATION A Neural Network Application Jonathan Z. Bloom University of Stellenbosch‚ South Africa Abstract: The objective of the research is to consider a self-organizing neural network for segmenting the international tourist market to Cape Town‚ South Africa. A backpropagation neural network is used to complement the segmentation by generating additional knowledge based on input–output relationship and sensitivity
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Ramaiah institute of Management Studies #15 ‚New Bel Road ‚MSRIT Post .M S Ramaiah Nagar Bangalore - 560054 DECLARATION I‚ hereby declare that this Project Report on “Operational Study” at KENTUCKY FRIED CHICKEN (KFC)‚ BANGALORE submitted in partial fulfillment of the requirements for I & II Semester PGPM examination 2013 of RAMAIAH INSTITUTE OF MANAGEMENT STUDIES is my original work and not submitted to any other university. This work has been done under the supervision
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the service sector on which we want to make our project. For this we have chosen the KFC food chain. KFC is the growing brand in the world for food industry. KFC basically deals in chicken recipes whose main focus in crispy and deep fried chickens. To know the market response of KFC we visited various chains of KFC and we also had survey on the public (who are the basic consumers of the KFC). We visited KFC chain of Noida Sector18‚ Lajpat Nagar‚ Center Stage Mall‚ Noida‚ and Ghaziabad. We concluded
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