BUSN 402 Market segmentation is a marketing strategy that involves dividing a board target market into subsets of consumers who have common needs‚ And then be designed and implemented to target these specific customer segments‚ addressing needs or desires that are believed to be common in this segment‚ using media that is used by the market segment. While there many theoretically ideal market segments‚ in reality every organization like Orkut engaged in a market will develop
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ESSENTIALS OF MARKETING BUS 400 Prepared for Mr. Jimmy Kelana Lecturer of Essentials of Marketing Prepared by Devi (B30611231) 5th April 2004 Kensington Institute Indonesia Market Segmentation is the process of dividing a market into direct groups of buyers who might require separate products or marketing mixes. There are several major bases for segmenting the market; they are geographic‚ demographic‚ psychographic and behavioral variables. Geographic segmentation Geographic segmentation calls
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market segmentation can be considered by using these few methods that elaborated below. 1. MARKET SEGMENTATION Market segmentation provides businesses with the possibility of customizing a unique set of elements known as the 4P’s (product‚ price‚ place‚ and promotion) for specific target markets. Therefore‚ it allows them to satisfy their customers’ needs in a more effective way‚ through a value proposition that is potentially superior to that of any other competitor. Market segmentation refers
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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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Segmentation Segmentation is essentially the identification of subsets of buyers within a market who share similar needs and who demonstrate similar buyer behavior. The world is made up from billions of buyers with their own sets of needs and behavior. Segmentation aims to match groups of purchasers with the same set of needs and buyer behavior. Such a group is known as a ’segment’. Think of you r market as an orange‚ with a series of connected but distinctive segments‚ each with their own profile
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of Contents 1.0 Situation Analysis/Current Marketing Mix…………………………...………………….3 1.1 Current Product........................................................................................................3 1.2 Current Pricing…………………………………………...………………………….4 1.3 Current Distribution…………………………………………………………………4 1.4 Current Promotion…………………………………………………………………..5 2.0 Segmentation Theory…………………………………………………...………………….6 2.1 Defining and Explaining Segmentation……...……………………..…………..........6 2.2 Explaining
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Consumer Behavior: Market Segmentation Contents Introduction 1 Concepts of Market segmentation 1 Case of a jewelry company 3 Conclusion 7 Reference 8 Introduction Market segmentation‚ as a crucial step of marketing‚ is not what you do to a product‚ but something you know about your customers. A good knowledge of your customers can enable you to yield twice the result with half the effort. Every consumer is different. Some prefer stylish products‚ while some want cheap and durable
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Home Assignment in Marketing Segmentation‚ Targeting‚ Positioning Prepared by: Eszter Oláh Course: BABS 2. Seminar Leader: József Kapitány Seminar: Every alternate Monday 8.00 9.30 Satisfying people ’s needs and making profit along the way is the purpose of marketing. However‚ people ’s needs differ and therefore satisfying them may require different approaches. Identifying needs and recognising differences between groups of customers
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Sony Company Background and Management Sony Corporation Company Profile‚ History‚ Management‚ and Culture Company History Akio Morita‚ Masaru Ibuka‚ and Tamon Maeda (Ibuka’s father-in-law) started Tokyo telecommunications Engineering in 1946 with funding from Morita’s father’s sake business. The company produced the first Japanese tape recorder in 1950. Three years later‚ Morita paid Western Electric (US) $25‚000 for transistor technology licenses‚ which sparked a consumer electronics revolution
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Chapter 2 Market segmentation Schiffman‚ Bednall‚ O’Cass‚ Paladino‚ Ward & Kanuk: Consumer Behaviour 4e © 2007 Pearson Education Australia Chapter Objectives To define market segmentation To review the uses of segmentation To outline the nine main bases of segmentation To understand the main segmentation approaches To outline the criteria for effective market segments To distinguish between concentrated and differentiated marketing Schiffman‚ Bednall‚ O’Cass‚ Paladino‚ Ward &
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