Market segmentation allows businesses to satisfy the diversity in a resource-effective manner and is held up as the panacea of modern marketing (Dibb‚ 2001). Marketing segmentation is more and more vital for business in the modern time. This essay‚ therefore‚ tend to introduce the concept of market segmentation first‚ then and the merits and difficulties will be illustrated. Finally‚ different approaches are going to be demonstrated. Market segmentation is the process by which a diverse market
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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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Geographic Segmentation Geographic segmentation calls for dividing the market into different geographical units such as nations‚ regions‚ states‚ counties‚ cities‚ or even neighborhoods. A company may decide to operate in one or a few geographical areas‚ or to operate in all areas but pay attention to geo-graphical differences in needs and wants. ACI Logistic Ltd (shwapno) today is localizing their products‚ advertising‚ promotion‚ and sales efforts to fit the needs of individual regions
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Innocent drink case study analysis: Innocent drinks are a unique business selling 100% natural fruit smoothies. (Innocent drinks) There are many factors that contribute to the company’s successful development so far. Firstly‚ and most importantly‚ their unique selling point which is using just fresh fruit in their drinks. This is a major strength to the company as they fit in today’s trend of a healthy eating lifestyle. "They contain even more antioxidants than the average five a day" (Adams 2007)
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THE SUCCESS OF INNOCENT DRINKS USING COMPETING VALUES FRAMEWORK AND PESTEL ANALYSIS. Innocent Drinks was started by three friends in 1999 that developed premium smoothies that contained 100% natural fruit with no water or added sugar. The aim was to provide people with quick ready-to-go and healthy food and drink options. The company is now one of the best-loved and fastest growing businesses in Britain. The highly successful Innocent Drinks sells $2 million smoothies per week across Europe‚ building
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bars‚ pubs or somewhere else we can see that people drink many kinds of alcohol such as wine‚ spirits and beer. Alcohol includes many components‚ some of which can be dangerous for people drinking alcohol. Everyday‚ millions people drink alcohol and more than billions of liters of alcohol is consumed all over the world. Alcohol may affect not only on our bodies but also on our lives. For many reasons‚ alcohol is considered a kind of drink having a lot of disadvantages. Because of its bad components
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