market‚ segments are a group of customers sharing the same need‚ one can use several variables to do so. Amongst them are: - Geographic segmentation - Demographic segmentation Age‚ life (-cycle) stage‚ gender‚ income‚ generation‚ social class - Psychographic segmentation Lifestyle‚ Values - Behavioral segmentation Decision roles‚ behavioral variables (occasions‚ benefits‚ user status‚ usage rate‚ buyer-readiness stage‚ loyalty status‚ attitude)‚ conversion-attitude After the segmentation (that
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Starbucks target customer was scaled towards females. They wanted people that were set to a certain lifestyle. That liked the personal experience that was being offered‚ the personalized greeting and the chance to talk with the baristas. D. Psychographic segmentation: dividing a market into different segments based on social class‚ lifestyles‚ or personality characteristics. Again Starbucks was clearly using this segmentation‚ going after the upper class‚ the female who had the time to spend and
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MKT 304: STARTEGIC MARKETING STRATEGIC EXTERNAL ANALYSIS Khyati Shetty Datta [MU Dubai] PESTEL ANALYSIS (with relevant examples) Political Factors These are all about how and to what degree a government intervenes in the economy. This can include – government policy‚ political stability or instability in overseas markets‚ foreign trade policy‚ tax policy‚ labour law‚ environmental law‚ trade restrictions and so on. Political factors often have an impact on organizations and how they
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Designing Customer Driven Marketing Strategy: Now-a-days companies recognize that they can not appeal to all buyers in the marketplace or at least not to all buyers in the same way. Buyers are too numerous‚ too scattered‚ and too varied in their needs and buying practices. Moreover‚ the companies themselves vary widely in their abilities to serve different segments of the market. There are 4 steps of designing customer driven marketing strategy. They are described below: (i) Market Segmentation:
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Semi Urban‚ Rural. DEMOGRAPHIC SEGMENTATION Age: 16-35+ Gender: Female Income: Rs.5‚000+ Target Area : Lower income group BEHAVIOURAL SEGMENTATION Benefits: Total protection antiseptic soap. User status: Regular user PSYCHOGRAPHIC SEGMENTATION Social class: Middle & Lower class. Lifestyle: Outdoor- Oriented‚ Sports-Orie TARGET MARKET After developing possible basis of segmentation‚ the company now has to evaluate the various segments and decide how many and which
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have a better understanding of their target audience and thereby make their marketing more effective BASIS OF MARKET SEGMENTATION 1. 2. 3. 4. 5. Geographic Segmentation Demographic segmentation Income segmentation Behavioral segmentation Psychographic segmentation Benefits Of Market Segmentation OBJECTIVES: ● Better serve the needs of the customers. ● Improve company’s competitive position. ● Increase sales‚ improved market-share‚ enhanced image. 1. Facilitates the right choice of Target
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method. There are 5 types of segmentation that a business can use to target their customers. Demographical: taking a certain segment of the population and grouping them according to categories such as age‚ gender‚ income‚ occupation and so on. Psychographic: when a certain segment of the population is taken and grouped into how people choose to live. This includes things like; lifestyle choices‚ activities‚ interests‚ opinions and so on. Geographical: taking a certain group of the population and grouping
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various sizes like small‚ large‚ medium depending upon the number of people. Occupation – Hush Puppies offers shoes based on occupation. For e.g.Mocca Zero‚ Hpo2 flex‚ Maycomb are formal shoes for business people. Montrose sl‚ Leo for students. Psychographic segmentation – it is the method of dividing markets on the bases of attitude & values. Values- when Indians buy products they want maximum features & benefits for that cost. Micro max came with fun book tablets which had various
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Acknowledgement Our gratitude and heart-warming thanks goes out to our MKT 101 lecturer Mr. Md Nazzmul Hussain‚ East West University for his guidance and for assigning us to do a project of this calibre which was quiet challenging but which was something we as a group enjoyed working on. Our further gratitude goes out to all the students that took their time and participated in the market survey which helped us conclude this project successfully. And finally our gratitude goes out to our
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MC.DONALD’S CASE ANALYSIS Submitted by: GROUP No. 3 Pradeep Kumar Agrawal Shikhar Katuva Ipseeta Deepjita Shikhar Abstract McDonaldis one of the leading fast food chain operating in more than 120 countries (Exhibit - 4) with more than 30000 restaurants. McDonald opened its first restaurant in 1955 in Illinois and started to grow rapidly serving around 47 million customers daily with more than 1.5 million employees. As far as Indian markets is concerned
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