COLLEGE OF MANAGEMENT Subject : Service Sector Management Topic : Market Segmentation (Partial fulfillment for T.Y.B.M.S Course (Semester V) for the year 2010-2011.) Prof In charge : Prof . Rishikesh Kangale () Sign: _________ MARKET SEGMENTATION Market Segmentation is defined as the process of splitting customers‚ or potential customers‚ in a market into different groups‚ or segments‚ within which the customers share a similar level
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Segmentation and Target Market The three major players in the soft drink market are PepsiCo‚ Inc.‚ the Coca-Cola Company‚ and the Dr. Pepper Snapple Group (Change Lab Solutions‚ n.d.). All of them use effective market segmentation to target specific markets. Effective target marketing requires that marketers‚ segment the market‚ by identifying and profiling to find a distinct group of buyers who differ in their wants and needs (Kotler & Keller‚ 2012). They target their specific product to one
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Chapter 8 Segmenting and Targeting Markets Segmenting and Targeting Markets Characteristics of a Market 1) people or organizations with 2) needs or wants‚ and with 3) the ability and Chapter 8 4) the willingness to buy. Lamb‚ Hair‚ McDaniel 2012-2013 A group of people that lacks any one of these characteristics is NOT a market. 2 Market Segmentation Market People or organizations with needs or wants and the ability and willingness to buy. Market Segment The Concept
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Summary........................................................................................ vi Potential Market Segmentation of a Brand New Product Product Potrayal................................................................................. vii Potential Market Segmentation..................................................................... viii Segmentation Profile..................................................................................... ix Evaluating The
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Segmentation‚ Targeting‚ and Positioning Segmentation‚ targeting‚ and positioning together comprise a three stage process. We first (1) determine which kinds of customers exist‚ then (2) select which ones we are best off trying to serve and‚ finally‚ (3) implement our segmentation by optimizing our products/services for that segment and communicating that we have made the choice to distinguish ourselves that way. Segmentation involves finding out what kinds of consumers with different needs
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special campaign where we can show the participants our current and future products. Outer rims are consumers who are located far away specifically in other parts of the world. It’s a lot harder to target these people as it may cost us a lot of money to market them. Probably the most wisdom way we can reach foreigners in our outer rims would be endorsement by our cliental like Amber Chia‚ Michelle Yeoh‚ Jimmy Choo and Siti Nurhaliza via popular magazines‚ TV commercials or newspapers. Age and Gender:
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Market segmentation is the fundamental component of a market-based strategy. A market segment is a specific group of customers with distinctive customer needs‚ purchase behaviours and different descriptive characteristics. (Best‚ 2000) By categorizing markets into sub sectors‚ targeting marketing effort in such a way as to meet the technical and other requirements of each of these‚ organisations maybe able to secure greater competitive position than if they attempted to satisfy the general requirements
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1.0 Introduction Over the past long period‚ products and brands continue proliferate. A good analysis and understanding of brand value and market segmentation is more essential than ever. Based on the theory of brand‚ product‚ market segmentation and target‚ a new product will be developed in the market to improve company’s performance and make profit. The information generated from this report is used for strategic planning‚ resource allocation and tactical marketing. 2.0 Branding What
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An article in The Weekend Australian on 1-2 March 2008 shows how Nissan apply the marketing concept of (i) market research‚ (ii) market segmentation‚ and (iii) market targeting in their new model – Pivo2. Nissan finds that the domestic sales have dropped 31 per cent even their sales are expanding in overseas market. So‚ Nissan had done some research the aims to analyze how can increase their domestic sales. The research was conducted in 2007 had interview 1700 young Japanese‚ and
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Positioning: Product positioning is a crucial ingredient in the buying process and should never be left to chance. It’s an opportunity to influence the market’s perception about the products. Clear‚ concise‚ meaningful product positioning also helps cut through the relentless advertising and marketing noise of the marketplace. In customer’s mind‚ product positioning gives your messages some context so they can be better heard and accepted. No matter which target marketing strategy is selected
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