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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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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NIVEA is a global skin and body care brand owned by the German company Beiersdorf. NIVEA has a long history in the industry dating back to 1911. NIVEA for men was introduced in the late 1980’s due to a greater demand for male products in a previously female dominated industry. In other words‚ males all over the globe were starting to take an interest in skin care and NIVEA was an innovative market leader. Since then recent estimates show NIVEA for men has ≈ 37% market share in male beauty products
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I. INTRODUCTION A. The Company The Nivea brand is one of the most recognised skin and beauty brands in the world. Nivea now extends to a wide range of products from facial wash‚ deodorant and shower products. In 1980‚ NIVEA FOR MEN was launched and it was a hit. In 1993‚ Nivea For Men developed a fuller range of male skin products. This changed the mind of men who doesn’t use these products. The company research proved that men mainly wanted products that will protect their skin after shaving
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6 Market Segmentation and Positioning Positioning is not what you do to a product; it is what you do to the mind of a prospect. Ries and Trout (1972) Learning outcomes After reading this chapter‚ you will be able to: ✔ Describe the principles of market segmentation and the STP process. ✔ Explain the characteristics and differences between market segmentation and product differentiation. ✔ Explain how market segmentation can be undertaken in both consumer and business-to-business
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MARKETING MANAGEMENT CASE STUDY – NIVEA FOR MEN [pic] Lecturer: Mr. George Wilds Due Date: February 27‚ 2011 TABLE OF CONTENTS INTRODUCTION………………………………………………………….………3 BRIEF HISTORY………………………………………………………..…………4 QUESTIONS AND ANSWERS……………………………………....................5-8 ← QUESTION 1……………………………………………………………….5 ← QUESTION 2……………………………………………………………….6 ← QUESTION 3……………………………………………………………….7 ← QUESTION 4………………………………………………………………8 CONCLUSION………………………………………………………..
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