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
Premium Marketing
segmentation‚ targeting‚ positioning‚ differentiation and branding For many organizations today to be successful they must know what consumers needs are‚ so as to satisfy them successfully and profitably to avoid wastages of resources. For these organizations to be successful they have to undertake segmentation‚ so as to know their target market and also to know the available competitors in the market producing the same goods. As a matter of fact‚ for Colgate to be successful they must segment
Premium Toothpaste Colgate-Palmolive Marketing
brand names in the world today‚ Sony Corporation‚ Japan‚ established its India operations in November 1994‚ focusing on the sales and marketing of Sony products in the country. In a span of 16 years‚ Sony India has exemplified the quest for excellence in the world of digital lifestyle becoming the country’s foremost consumer electronics brand. With relentless commitment to quality‚ consistent dedication to customer satisfaction and unparalleled standards of service‚ Sony India is recognized as a benchmark
Premium Sony
Keller’s Brand Resonance Pyramid | SONY Brand 2015 | Resonance Behavioral loyalty: This includes regular‚ repeat purchases‚ Sony has a loyal customerbase Attitudinal attachment: Customers have loved SONY for decades and many segments have grown up with their groundbreaking products‚ and see some of the products as a special purchase‚ PS3‚ VAIO‚ XPERIA Judgements Quality: The Customer perception of the quality of the Sony products/services with the SONY brandname is high Credibility: Decreased
Premium Brand Logo Graphic design
Place Sony has an online presence in several formats‚ for example http://pro.sony.com/bbsc/home.do provides information on products and their prices. The site also has information on corporate applications for its offerings. Sony Product distributors that sell selling to VARs + System Integrators include: ASI Corp‚ Avnet Inc. and Bell Microproducts‚ Microland Electronics Corp. Wholesale distributors of Sony Products include but are not limited to : Best wholesale co. Ltd‚ Dongsheng
Premium Sony Blu-ray Disc Sony Computer Entertainment
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
Premium Marketing
exact segmentation‚ Demographic and Psychographic characteristics have to be considered: (for the Bajaj-Renault-Nissan low cost car) Demographic characteristics are as follows: Gender: The car is for the family‚ so gender is immaterial here. But generally‚ the male person of the house is the influencer and the decider of the purchase‚ thus the Ad has to be made considering him as the target market
Premium Maslow's hierarchy of needs Middle class
Strengths Substantial Brand Identity Sony is a corporate brand whose identity is deeply rooted and very well established in the minds of potential customers. The brand remains healthy despite dropping from 25th to 29 in name recognition according to InterBrands 2009 ranking. Interbrand valued Sony brand at $11 million Global Diversification Sony products and services are available throughout the world in approximately 200 countries and territories. The United States market accounted for 17.9%
Premium Sony Blu-ray Disc
Sony Product The first market mix element is Product. A product is anything that can be offered to a market for attention‚ acquisition‚ use or consumption that might satisfy a need or want. Product decision normally base on brand name‚ Functionality‚ Styling‚ Quality‚ Safety‚ Packaging‚ Repairs and Support‚ Warranty‚ accessories and Services. These product attributes can be manipulated depending on what the target market wants. Also‚ customers always look for new and improved things‚ which
Premium Marketing Sony Advertising
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
Premium Apple Inc. Psychographic Marketing