MARKET SEGMENTATION A market is made up of people with one or more characteristics that make them to demand homogeneous product or service based on qualities of those products such as price or function. People in the same segment have similar needs and quality and therefore possess similar products and are charged similar prices‚ but they are different from other segments. Segmentation variables can be * Gender * Price * Location * Religion * Income * Interests * Size
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Question 1 Division of marketing for Kit Kat – chocolate bar‚ into geographic ‚ demographic‚ psychographic and behavioural segmentation. Geographic segmentation The market is broadly divided into Urban (cities and towns) and Rural (villages). Kit Kat caters the high urban need by making products available that too with a variety with the help of which the rural crowd can be kept attracted. Rural needs are also kept in mind and there is nothing even required for Kit Kat to make an effort to attract
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should perform to conduct the market segmentation process effectively. Step 1: Identify segmented markets The first step of the market segmentation process is to identify the segmented markets. It is important to select the segmenting strategy that most accurately categorizes consumers according to your product or service. For example‚ suppose that your company manufactures infant safety seats. The decision to use the age-oriented strategy to segment the market may not be effective because
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Market segmentation is an essential part in today’s business world. It is because not all customers have the same requirement and a market strategy which does not recognize this fact will result business failure. Market segmentation is the process of splitting customers‚ or potential customers within a market into different groups‚ or segments‚ within which customers have the same or similar requirements satisfied by a distinct marketing mix. Nike has been successful in market segmentation for selling
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countries. There is a large number of customers who are interested in handmade or unique gifts in European. A rise in demand from the US and European markets has pushed India’s handicrafts exports up by around 22 per cent to USD 369 million in August‚ 2010 (www.goodreturns.in). Among European countries‚ Finland is considered as one of many potential markets for us to develop this kind of industry. That is the reason why we wish to enhance a designing company to provide more unique designing gifts what
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Market Segmentation This document prepared and presented by Business Resource Software‚ Inc. Market Segmentation The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are "most likely" to purchase your offering. If done properly this will help to insure the highest return for your marketing/sales expenditures. Depending on whether you are selling your offering to individual
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Words: 2150 Table of Contents Introduction 2 Question 1 – Customer Decision Making Model 3 Question 2 – Market segmentation and iPad market 6 Conclusion 8 References 9 Introduction This assignment analyzes two questions‚ which are customer decision making model (CDMM) and market segmentation. Customer decision making model is a decision making process of a customer before buy a product. In the process‚ purchase
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attract market segments. Today Coke products are sold in more than 200 countries. Pepsi is available in nearly the same number of countries43 and other cola products have entered the marketplace. To grow and increase sales in this mature market‚ Coca-Cola must either take customers away from other beverage companies or encourage existing customers to drink more cola—both challenging tasks. Part of the company’s solution pertains to its approach to new product development for different market segments
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To: Paignton Zoo From: Date: 24/01/2012 ------------------------------------------------- Subject: Market Segmentation This is a report on market segmentation and this is identifying groups of customers who will respond to marketing activity in the same way. There are five segments in market segmentation which are similar wants‚ purchasing power so this is when an older person can buy more products then a younger person and this is because‚ geographical area this is selling products depending
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KFC Marketing Segmentation: Geographic: The perfect place for KFC to do business is in the city because people are gathered there including people from the countryside. So the busiest blocks where there are people passing by 24 hours a day are KFC’s targets. Moreover‚ by positioning the store in the capital city Phnom Penh and a touristic city as Siem Reap‚ KFC can benefit from the excessive amount of labor force and a less expense on delivering raw material to each branch. Beside targeting the
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