Target Market The outlets of KFC are in luxury district and the prices are too expensive such as overhead expenses rent‚ air conditioning‚ employees. So‚ KFC target supper and middle classes. Target market is depending on size and growth rate of population‚ company resources and structural attraction of market segment. Location Hectic lifestyle of personal that let them more time at work and less pressure about waiting for food. The commercialization of urban and suburban markets resulting in
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in the same or comparable set of needs satisfied by a distinct marketing proposition. This means that different customers all have different needs that need to be fulfilled. Segmentation can be based upon geographic location‚ demographics and psychographics. Geographic Segmentation organizes customers into groups on the basis of where they live. This creates a market based on where they can be grouped by country‚ city or town etc. For example you’ll see more Volvos in Europe than in America because
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affected due to combat and some need help transitioning from military life to a civilian. As the director of for a military veterans foundation I must raise money to create a fallen heroes monument. The first step is to identify the demographic and psychographic in my development. For demographics we would need to make the location an area that it has a good support system for veterans. After doing a lot of research Arlington‚ Virginia has many support systems in place for veterans. Here also lays the
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of its effective size‚ (3) its accessibility through promotional efforts‚ and (4) its appropriateness to the policies and resources of the company. The four basic market segmentation-strategies are based on (a) behavioral (b) demographic‚ (c) psychographic‚ and (d) geographical differences. Geographic segmentation: Where? A market can be divided according to where consumers are located. On a trip abroad you might have noticed that people enjoy more outdoor activities than back home. You could
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the ’compatibility’ days But anyway‚ the ’compatibility’ problem dies when the people who believe in it are not young anymore. Market Segmentation The market segmentation includes: Demographical bases. Geographical bases. Behavior bases. Psychographic bases. 2.1 Demographical bases (age‚ family size‚ life cycle‚ occupation) Looking into Apple‚ the Demographical market segment is successful because they are developing products on the age‚ life cycle‚ occupation of the people. They are distributing
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education as SKII used to state many technical and scientific terms in their advertisement. However‚ SKII does not make clear segment on occupation. Psychographic segmentation divides buyers into different segments based on social class‚ lifestyle‚ or personality characteristics. People in the same demographic group can have very different psychographic characteristics. (Kotler P. and Armstrong G. (2010) Principles of marketing (14th ed.)‚ Pearson Education‚ Inc.‚ New Jersey‚ Chapter 7) Target market
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Nowadays‚ emerging markets are becoming more and more attractive for multinational companies. Particularly the Asian market‚ headed by China‚ represents an enormous potential. Asians consumers are motivated by a complex range of cultural factors and are becoming more interested in pursuing brands to experience their reputation‚ to stand out from the crowd or to create new trends of a modern high-class lifestyle in purchasing items of established‚ mostly western brands. Especially the uprising group
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Q1. The pure and strong cola drink comes with all power packs. By looking at Red bull cola drink and its profile‚ I would prefer to target two market segments specifically; behavourial and psychographic. I will pre-dominantly be focusing at behavourial segmentation. As it going to speak much about product’s quality. BEHAVOURIAL SEGMENTATION: Behavourial segmentation is the major segmentation which I would like to focus in order to be succeeded in capturing market. The very vital point through
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Marketing 100 Assignment 1 Title: Target Market Report : Beyonce Name: William Heng Wui Seng Student ID: HWWSD101 Lecturer: Mr. Chris Bright Class time: Wednesday‚ 1.30pm – 5.30pm Market Segmentation. 1.0 Segmentation Theory. Market segmentation is a concept in economics and marketing. It is a strategy that involves dividing a larger market into subsets of consumers who have common needs and applications for the goods and services offered in the market. `What’ is market segmentation’
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(HBD2079) Table of content 1. Introduction: 4 2. Market Segmentation 5 3. The Concept of Market Segmentation 5 4. The Process of Market Segmentation 5 5. Demographic Segmentation 5 6. Geographic Segmentation 5 7. Psychographic segmentation 6 8. Behavioural Segmentation 6 9. Market targeting 7 10. Market Segmentation Limitations 8 11. The Positioning Concept 9 12. Positioning Strategies 10 13. References 11 Abstract This paper looks at the use of market segmentation
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