Explain how and why groups of customers are targeted for selected products What is segmentation? Market segmentation is the division of a market into sub groups with similar characteristics. A business can then target these groups and develop products and services for each of them. There are several ways in which consumers can be split up into. These is geographically which includes location‚ demographically which includes gender‚ social class‚ age‚ income‚ ethnicity or religion‚ psycho graphically
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company or business to effectively respond to different customers needs and wants in order to increase sales‚ they make use of market segmentation. Market segmentation as defined by Kerin‚ author of Marketing‚ 10e; involves grouping potential customers who have common needs and will respond similarly to a marketing action. In further elaboration to define segmentation‚ if there is a demographic group of customers who are all on diets and are watching their weight (common needs/desires) and a business
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in Great Britain 0160-7383/$30.00 doi:10.1016/j.annals.2004.05.001 MARKET SEGMENTATION A Neural Network Application Jonathan Z. Bloom University of Stellenbosch‚ South Africa Abstract: The objective of the research is to consider a self-organizing neural network for segmenting the international tourist market to Cape Town‚ South Africa. A backpropagation neural network is used to complement the segmentation by generating additional knowledge based on input–output relationship and sensitivity
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Marketing Segmentation Theory based on selling Oxygen bars 1) Demographic Consumer age‚ gender‚ income‚ occupation are considered to be the main factors for demographic segmentation. Other factors like race‚ religion‚ nationality is not emphasized here because product usage will be less affected by those factors. Currently‚ similar-functioned products available in the market have a wide consumer age base‚ ranging from 20+ to 50+. I believe that this age difference does reflect the difference in
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SEGMENTATION (Harish pg3) The process of defining and subdividing a large homogenous market in to clearly identifiable segments having similar needs‚ wants or demand characteristics .Its objective is to design a marketing mix that precisely matches the expectation of customers in the targeted markets. Bases for segmentation Geographic segmentation -: Geographic segmentation calls for division of market in to different geographical units such as nations‚ states‚ regions
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Investor Relations Corporate strategy Vision: “Audi – the premium brand” In adopting its Strategy 2020‚ the Audi Group has focused its core brand Audi on the challenges of the future. The strategy took on firmer contours during 2011 as the full potential of the mission “We delight customers worldwide” was explored in greater depth. It now gives more weight to new issues that have emerged as a result of heightened environmental awareness‚ growing uncertainty about the future availability of fossil
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How Careless Accidents Can Be Avoided? Intro: Careless accidents can be avoided in many ways‚ I will specifically be explaining on how we can avoid car accidents on our roads. Through the past years to present‚ our death rates on car accidents are at an alarming rate. The three main causes of car accidents are over speeding‚ poor road conditions and the use of cell phones while driving. Body: Many a time drivers don’t take into consideration about their speed limit. They tend to speed ignorantly
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Audie Leon Murphy‚ son of poor Texas sharecroppers‚ rose to national fame as the most decorated U.S. combat soldier of World War II. Among his 33 awards and decorations was the Medal of Honor‚ the highest military award for bravery that can be given to any individual in the United States of America‚ for "conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty." He also received every decoration for valor that his country had to offer‚ some of them more than
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Market Segmentation Of Pepsi At An International Level The history of Pepsi-Cola starts in 1896 in the town of New Bern in North Carolina‚ USA in a drugstore owned by the pharmacist Caleb Bradham. He came up with many recipes of new drinks to be served at the soda fountain of his drugstore. Brad ham aim was to create a drink both delicious‚ healthy‚ aiding digestion and boosting energy. It would be free of impurities and it should not contain any strong narcotics. Eventually one of his drinks became
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Acknowledgement In preparation of this report by me‚ I feel great pleasure because it gives me extensive practical knowledge in my career. I get idea about The Luxury Market by this project. I am thankful to Mr. Moiz Lakdawalla for his valuable inspiration and guidance provided me throughout the course of this project. His patience and critically gone through the subject matter. I would like to take opportunity to express my gratitude towards all of them who have contributed directly
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