Describe segmentation • Explain demographics‚ Geographic’s‚ psychographics and why companies use these methods to segment the market effectively • Explain different methods used to segment markets e.g. ACORN‚ Mosaic • Explain the different target markets of McDonalds – identify 4 product ranges and describe in detail the target market for each product • Describe the different needs of each target segment • Use examples specific to McDonalds Segmentation Market segmentation is where
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components of the macro environment influence the market dynamics‚ taking the examples of apparel and two-wheeler industries. 5 Building Customer Satisfaction Assignment 1 :Due for submission(5 Marks) Lexus: Delighting customers after the sale PTB ( pp134-135) Ch 5 of KKK&J (RB) PPt 3 Understand 1.Concept of customer value and satisfaction Discuss 2.Strategies for customer retention 6&7 Analyzing Consumer Markets Super Shampoo Products (C2) OTH Ch 5 PPt 4 1.
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FIVE of the following 1. What is consumer Behavior? Explain briefly the various factors influencing consumer behavior taking example of any consumer durable of your choice? 2. Distinguish between Market Segmentation and Product Differentiation? Describe the bases that you will use in segmenting the market for the following products: a) Hair dryer b) Low calorie sweetener 3. Write notes on:- a) Marketing Research as a toll of decision making b) Functions of Packaging c) Stages in new product
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Part 2 Market Segmentation Segmenting Consumer Markets Demographic segmentation divides the market into groups based on variables such as age‚ gender‚ family size‚ family life cycle‚ income‚ occupation‚ education‚ religion‚ ethnics‚ generation‚ and nationality It is the most popular segmentation method‚ because consumer needs‚ wants‚ and usage often vary closely with demographic variables‚ and they are easier to measure than other types of variables. Market Segmentation Segmenting
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Target Market Report : Beyonce Name: William Heng Wui Seng Student ID: HWWSD101 Lecturer: Mr. Chris Bright Class time: Wednesday‚ 1.30pm – 5.30pm Market Segmentation. 1.0 Segmentation Theory. Market segmentation is a concept in economics and marketing. It is a strategy that involves dividing a larger market into subsets of consumers who have common needs and applications for the goods and services offered in the market. `What’ is market segmentation’ ( Tatum‚ 2010). Market segmentation
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the influence of target market for the services which the subway offers to its market. Here many variables influence the market segmentation for “sub of the day”. Coming to the segmentation strategy it is essential to know what the customer is considering from the services provided by the subway. The segmentation strategies can be described more effectively in many different variables which results in the marketing segmentation‚ there are different forms of segmentations available like the democratic
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Slide 2 Market Segmentation‚ Targeting‚ and Positioning © 2011 McGraw-Hill Ryerson Ltd. All rights reserved. Today’s Topics After reading this chapter‚ you should be able to: 1.Explain what market segmentation is and when to use it. 2.Identify the five steps involved in segmenting and targeting markets. 3.Recognize the different factors used to segment consumer and organizational (business) markets. 4.Know how to develop a market-product grid to identify a target market and recommend
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evolved and continues to evolve through the process of market segmentation. The more the hospitality industry comprehends the discerning taste and preference of the guest population‚ the further the market becomes segmented as a result. The need for market segmentation is more prominent in the hospitality industry now because of the rapid changes in customer needs and the vast amount of product offerings. One facet of market segmentation in the hotel industry is the unique consumer segment. The
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Marketing segmentation Market segmentation is the process of dividing the market into dissimilar‚ distinctive groups of people who have similar needs to be satisfied‚ alike wants and behavior‚ or might want some products and services. Markets can be divided depending on a number of wide –ranging criteria. They are: geographic (region‚ county‚ climate etc.)‚ demographic (age‚ gender‚ family size‚ religion) psychographic (personality‚ life style‚ attitude etc.) behavioral (benefit sought‚ brand loyalty
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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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