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 for dividing the market into different geographical units such as nations‚ regions‚ states
Premium Marketing Psychographic
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
Premium Marketing
Segmentation and TESCO Case: Segmentation is essentially the identification of subsets of buyers within a market who share similar needs and who demonstrate similar buyer behavior Using segmentation analysis helped Tesco PLC‚ Britain’s largest retailer stores to decide on their future marketing strategy and to appraise their competitive strengths Tesco realized the requirements for effective segmentation and that it must be Measurable‚ accessible‚ Differentiable‚ Substantial and Actionable
Premium Psychographic Marketing Asda
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 &
Premium Marketing
This can be done through market segmentation in order for the company to achieve their target. Market segmentation refers to a marketing concept which divides complete market into smaller segments. One market segment is totally distint from the other segment‚ therefore each company has to design a business tool or known as marketing mix that precisely matches the expectations of consumers in the targeted segments. All together‚ there are four basic market segmentation-strategies which are behavioral
Premium Marketing Psychographic
The whole idea of market segmentation is to dividing the markets into distinct groups of buyers who have distinct needs‚ characteristic or behavior or who have might require separate products or marketing mix. In KFC‚ they have considered four variables for market: 1. Geographic segmentation 2. Demographic segmentation 3. Psychographic segmentation and 4. Behavioral segmentation. 1. Geographic Segmentation Dividing the market into different geographical units such as nations‚ states‚ regions
Premium Psychographic Middle class Working class
Market segmentation is the division of the total market into smaller‚ relatively homogeneous groups. It is necessary to segment or classify the various people or institutions in order to identify those with sufficient purchasing power‚ authority‚ and willingness to buy. Because no single marketing mix can satisfy all marketing segments‚ it is important to establish target markets and apply the appropriate marketing strategies in order to maximize market share. Since 1887‚ The Raleigh Bicycle
Premium Marketing
Segmentation and customer profile. Segmentation is dividing a market into a smaller groups that shared similar needs‚ wants‚ characteristics‚ and behaviours towards the goods and services. (reference). The market segmentation is a must and important to the all oraganizations. This is because each customers have different needs and wants‚ so that by segment the market‚ the organization can identify which customers that can match with their products and services. In Dell‚ the segmentation is a backbone
Premium Marketing Psychographic
Question 1 Division of marketing for Kit Kat – chocolate bar‚ into geographic ‚ demographic‚ psychographic and behavioural segmentation. Geographic segmentation The market is broadly divided into Urban (cities and towns) and Rural (villages). Kit Kat caters the high urban need by making products available that too with a variety with the help of which the rural crowd can be kept attracted. Rural needs are also kept in mind and there is nothing even required for Kit Kat to make an effort to attract
Premium Chocolate Marketing Middle class
segmented the market for its major product and what its marketing mix strategies are. b) If you were the marketing managers involved‚ what parts of (i) would you do the same and what would you do differently? Why? EXECUTIVE SUMMARY Market Segmentation is an essential part of the Marketing Strategy. It allows organisation to effectively target the relevant groups of consumers‚ allowing for the creation of a more effective marketing strategy. The strategy will guide a company to better satisfy
Premium Marketing