relations with consumers that will result in return customers. Budget: Total Budget: $20‚693.94 Special Events: $5‚200.00 Sales Promotion Activities: $1‚800.00 Advertising Media Selection: $12‚290.00 Target Market: | Demographic | Geographic |
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the investment implicated in segmentation. (Baker‚ 1995) Markets can be segmented using a variety of philosophical approaches. In terms of operationalizing these approaches‚ demographic approaches‚ geographic approaches‚ socio-economic approaches and psychographic approaches are commonly used. There are a number of demographic-related bases for segmenting markets such as age‚ the stage in the family life-cycle‚ gender‚ ethnic group and household composition. Age segmentation is one of the most widely
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Analysis/Current Marketing Mix 2.1 Current Product 2.2 Current Pricing 2.3 Current Distribution 2.4 Current Promotion 3.0 Brand Positioning Theory 3.1 Define Brand Positioning 4.0 Target Market Identification 4.1 Geographic Segmentation 4.2 Demographic Segmentation 4.3 Psychographic Segmentation 4.4 Behavioural Segmentation 5.0 References List: 11 1.0Introduction BMW Group is one of the largest and most successful multi-brand automobile manufacturers in the world‚ headquartered in
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segmentation is divided into three main segments * Geographical segmentation * Demographic segmentation * Psychographic segmentation 1. Geographical segmentation: The market is divided according to geographic criteria like nation‚ state‚ religion‚ countries etc. Geographic data create accurate profile of specific. For eg: in rainy season sells rainy clothes (like raincoat‚ umbrella etc) 2. Demographic segmentation: it divide to the market into groups according to variable in age‚
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Question 1 Describe the 7 Ps of marketing and provide examples with which you are familiar. Question 2 Discuss the importance of the ‘marketing mix’ to the success of a firm. 7Ps of marketing: Philip Kotler elaborated McCarthy’s (1960) traditional marketing mix; according to him it consists of 4Ps namely Product‚ Price‚ Place and Promotion. These 4Ps of marketing mix were considered as the main areas where marketing managers try to use limited business resources to achieve their objectives
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Introduction Lanka Backpacking is a started‚ small scale partnership among a few numbers of friends where the head office will be located in the capital city of Sri Lanka‚ Colombo. This is a service oriented business relating to wilderness and backpacking. Locals as well as tourists can select a suitable package offered by the business and enjoy the wilderness beauty and ‘mellow to extreme’ wilderness activities offered by the package. Sri Lanka is a tropical country and is also an island. According
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understanding what each consumer segment wants‚ SIA has been able to create value for each of these segments. Bases for segmentation includes: geographic‚ demographics‚ psychographics‚ and behavioral. Geographic: SIA customers are located globally as evidence by its passenger services to more than 60 cities in over 30 countries around the world. Demographics: Passengers who travels by Suite class and First class are predominantly males aged 25 to 45 years old. These people travel for business purposes
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organizations segmentation strategy is primarily geographic. The company focuses on the Canadian market‚ including all provinces and territories of the country. Based on what the organization wants to accomplish Scouts Canada should dedicate their marketing strategies to study and segment the market based on demographics (age‚ family size‚ life cycle) and psychographics. Demographic Segmentation fragments the market into categories according to different demographic factors‚ usually with regards to the
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Market Profile Worksheet Page 1 of 1 1. Demographic market description: Describe the demographic details of your target market. The following items include general descriptive categories you might identify for your customers. Skip items which are not applicable and add items that are. • Age range • Income range • Sex • Occupation • Marital Status • Family size • Ethnic Group • Level of Education • Home ownership • Other 2. Geographic market description: • Area served (city
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applications of the same idea‚ splitting up the market into smaller groups. Examples: • Age • Gender • Price • Interests Demographic segmentation Demographic segmentation consists of dividing the market into groups based on variables such as age‚ gender family size‚ income‚ occupation‚ education‚ religion‚ race and nationality.As you might expect‚ demographic segmentation variables are amongst the most popular bases for segmenting customer groups.This is partly because customer wants are
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