MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA • CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are not homogeneous but they are heterogeneous. Market represent a group of customer having common characteristics but two customer are never common in their nature‚ habits‚ hobbies income and purchasing techniques. • According to Philip kotler ‚ “ Market segmentation is sub-dividing a market into distinct and homogeneous subgroups of customers
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expansion of McDonald ’s into many international countries make the company become a symbol of globalization and the spread of the American way of life. However‚ it also make it a frequent topic of public debates about obesity‚ corporate ethics and consumer responsibility. There are at least 31‚000 McDonald can be found in 120 countries and territories around the world serving nearly 54 million customers each day. McDonald ’s has always been a franchising company and has relied on its franchisees‚
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MOUNTAIN DEW Introduction Mountain Dew (also known as Mtn Dew as of late 2008) is a soft drink distributed and manufactured by PepsiCo. The main formula was invented in Knoxville‚ Tennessee‚ named and first marketed in Knoxville and Johnson City‚ TN in the 1940s‚ then by Barney and Ally Hartman‚ in Fayetteville‚ North Carolina and across the United States in 1964.When removed from its characteristic green bottle‚ Mountain Dew is bright yellow-green and translucent. As of 2007‚ Mountain Dew
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MARKET SEGMENTATION A market is made up of people with one or more characteristics that make them to demand homogeneous product or service based on qualities of those products such as price or function. People in the same segment have similar needs and quality and therefore possess similar products and are charged similar prices‚ but they are different from other segments. Segmentation variables can be * Gender * Price * Location * Religion * Income * Interests * Size
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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
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service. a) Explain how the example businesses have 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
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definition of market segmentation is groups of potential buyers that have two things in common‚ similar needs and a reaction to the marketing strategy. (Kerin‚ 188) There are four different segments to the market. They are geographic area‚ demographic focus‚ psychographic referring to lifestyle and behavioral which refers to where the person makes purchases‚ what they are looking for‚ how often they shop‚ and their reason for purchasing. (Kerin‚ 193) A definition of target market is one or more
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Segmentation‚ targeting and positioning are interrelated activities‚ which are important to achieving a successful marketing mix. Discuss these concepts in theory and give practical example of how they can be applied to one industry of your choice. Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs‚ and then be designed and implemented to target these specific customer segments‚ addressing needs or desires that
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BUSN 402 Market segmentation is a marketing strategy that involves dividing a board target market into subsets of consumers who have common needs‚ And then be designed and implemented to target these specific customer segments‚ addressing needs or desires that are believed to be common in this segment‚ using media that is used by the market segment. While there many theoretically ideal market segments‚ in reality every organization like Orkut engaged in a market will develop
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Product Differentiation and Market Segmentation as Alternative Marketing Strategies Author(s): Wendell R. Smith Source: Journal of Marketing‚ Vol. 21‚ No. 1 (Jul.‚ 1956)‚ pp. 3-8 Published by: American Marketing Association Stable URL: http://www.jstor.org/stable/1247695 . Accessed: 24/04/2013 13:20 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service
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