Factors to Consider When Deciding on Which Market Segment to Venture

Topics: Marketing, Advertising, Product life cycle management Pages: 6 (1500 words) Published: April 17, 2013

Factors to consider when deciding on the segments to serve as a market * Population
The density of the people in a given place is a very important aspect to consider when segmenting a market . A densely populated area is usually preferred as a destiny to market the product. * Consumer behaviour

How a consumer perceives when purchasing or deciding to purchase a product is very vital. * Social class
Different consumers have different classes .in this case a seller should consider the class of the various consumers before deciding on which segment to choose or segmenting the consumers into certain target group * Attitude towards the product

Different consumers have different perspective about the product in different regions ,consumer’s attitudes about the product in place should be factored in when deciding on the market segment * Religion

Different consumers have different religions and in this case some may not consume a certain product based on their religion, a good marketer evaluates the demographic and cultural factors before venturing and selecting the appropriate market segment.

Question 1(b)

Message execution style to capture the target markets attention and interest

Packaging style
How the goods appear to the consumer influences his/her buying decision ,thus how the labels, container appears determines a lot on how the consumer creates interest in that product

Brand name
Most consumers have become constituent in in purchasing or consuming certain products and they will always look for these products with the brand name they are used to. Clear descriptions
How the product description in terms of how it is used ,its ingredients, determines a lot how that product will capture the attention of the consumers.

Shapes and sizes
Consumers belong to different classes and how the products are broken down into different sizes and shape determines how that product will capture the attention of the buyer

Most consumers prefer a quality product with a reasonable cost ,in this case the seller should consider competitors before setting his/hers price inorder to avoid customer loss through higher prices.

Question 2(a)

Components of the marketing information systems
I. Internal reporting system
This involves the records of income ,expenditure, creditor or debtors and consumers II. Marketing intelligence

This involves getting information from another different person to get to know whether you are performing in the market or not III. Marketing research
This involves identification of a problem and finding a solution to that problem IV. Marketing models
This involves the use of time series ,linear programming ,analysis of variance ,progression analysis, sensitivity analysis, in trying how the market operates

Uses and functions of public relations to organization

a) Used to inform consumers about the new product in the market, through public relation consumers get to know about the new product in the market b) Used to teach the consumers on how to use the new product in the market .It is through public relation that the consumers are taught how to use the new product in the market. c) Enables consumers to know where and how to get the organizational goods d) Used in link ling the consumer with the organization thus public relation facilities then bringing of the gap between consumers and the organization

Importance of public relation to the organization

i) Creates good image of an organization. An organizations image is sustained through public relation. ii) Public relations enhances the product awareness that is marketing of organizational product is enhanced iii) Public relations enables the establishment of long and lasting relationship with the consumers iv) Creation of trust about the organizational products by the consumers, due to...
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