It is well known to someone who studies marketing that a person sees thousands of advertisements in their daily lives. They may not be consciously aware of the sign on the side of the freeway advertising the newest razor by Gillette, but it’s there every day on their way to work. An ad for the same Gillette razor can probably be found on television, and it is becoming more and more common to encounter ads on the internet. The most interesting thing I have learned in marketing is how much of an impact the internet has had on the international marketplace. The internet has made it easier than ever for companies to market their products. Thanks to Facebook, Twitter, YouTube, and other social media, companies can now contact their fans and form closer relations.
If I were forced to do marketing for future consumer goods, I would find demographics, psychographics, product design the most interesting segments. Age, gender, income, ethnic background, and family life cycle, are variables of great significance that a marketer must consider when identifying the possible target market of a particular product or service. It would seem very beneficial to a marketer to study the behavior of each demographic segment, and the effect each one has on the other. Unlike demographics, psychographics deals with segmenting customers based on their personality, motives, lifestyles, and geo-demographics. I find psychographics the most fascinating market segment because of how a marketer can segment consumers based on their behavior. The segmentation variables of psychographics segmentation are personality, motives, lifestyles, and geo-demographics. The concept of categorizing consumers based on the four segmentation variables stated is fascinating and important when considering the correct target market. Lastly, if I were forced to do marketing for future consumer goods, I would find the product design area intriguing. The advertising strategy for a technologically advanced...
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