Burberry Target Market Wealthy business owners‚ CEOs and COOs and their spouses Worldly citizens Label and fashion conscious shoppers Celebrities Consumers seeking quality merchandise Younger professional 18-30 SHANGHAI TANG Current Market Segment Upper middle class Professional‚ Managers‚ Executives‚ Businessmen (PMEBs) Age:25-39 especially high-income chinese women between 30-35 Now attract Westerners who are interested in Chinese tradition PMEBs Lifestyle Spendthrifts‚ willing to spend up to
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The market also sets prices for goods and services. 4. Describe the likely target market for a company that sells designer jeans at a shopping mall. Explain the reasoning behind your answer. A= The target market would be people who wears designer jeans‚ people who has a lot of money and people who wants to fit in with everyone else because they don’t care how much it cost at longs they have them. 5. Explain how an item’s target market might affect its price. A= An item’s target market is affect
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What is meant by “target market”? The focus of marketing effort is people. The goal is to reach a subset of the population who may be interested in your particular product. That group of people is your target market. The term target market is used because that market is the target at which you aim all your marketing efforts. The markets you are trying to reach are people with common characteristics that set them apart as a group. The more you know about a target market‚ the more precisely you
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There have some challenges which affect Target in Singapore Demographics: Singapore has small population and the aging problem become serious. Target’s scope of consumers concentrated on young and middle-aged people while Target’s consumers overall income level is slightly higher than Wal-mart’s level of consumer groups. So relative to the U.S.‚ the number of consumer groups is lower than the United States‚ Target is not conducive to open up new markets in Singapore. Physical infrastructure:
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Target Markets A target market‚ according to Kotler and Armstrong (2004)‚ consists of a set of buyers who share common needs or characteristics that the company decides to serve. The decision of selecting target segments can be assessed by looking at market factors‚ competitive factors‚ and political‚ social‚ and environmental factors (Jobber‚ 1995). Since the location is Asiatown IT Park‚ Lahug Cebu City; our market targets are the call center agents and the people working in offices. These
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7.1 Target Market The target market for Fitness Network is the youth‚ students‚ and working populations. They are the majority groups that are health conscious and will frequent gyms in Singapore. This is said because research has been done and studies have shown that since they are youth‚ they have a lot of time on their hand and they are willing to pay the extra money to fill their time by doing something useful. Also parents would gladly agree to give money for them to join the gym because it
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Target market A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards.[1] A well-defined target market is the first element to a marketing strategy. The marketing mix variables of product‚ place (distribution)‚ promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace. Market segmentations Target markets are groups of individuals that are separated
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PepsiCo vs. Market Segmentation Introduction Pepsi-Cola was founded by a druggist‚ Caleb Bradham in year 1898 (Overview‚ 2008). He came from New Bern‚ North Carolina (Overview‚ 2008). In year 1965‚ Pepsi-Cola merged with Frito-Lay in a new company named PepsiCo (Overview‚ 2008). Then‚ PepsiCo merged with Tropicana in year 1998 and also Quaker Oats Company in year 2001 (Overview‚ 2008). Those mergers have been divided in categories such as food‚ beverage and snacks. Now‚ Pepsi Brand is part of
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demographic segmentation bases are the most popular and practical segmentation bases. Kotler(1984‚ p. 255) states that “demographic variables are the most popular bases for distinguishing customer groups”‚ possibly because the ease with which this kind of data can be collected. Demographic segmentation divided the market into groups of basis variables which consists of age‚ sex‚ income‚ and social class. Age Consumer needs and want usually change with the time changed.Segmenting market by age often
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in the fast food industry‚ cannot satisfy every customer’s need related to food. However‚ the company has a strong customer base that consists of different types of consumers. Needs are different for each of these consumers and McDonald’s certainly realizes it cannot meet the needs of these various groups by marketing to them in the same way. The U.S. Department of Agriculture (USDA) conducted a dietary survey in the United States in the late ninety’s regarding the consumption of fast food. Based
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