First, she has , July est. So the pool of potential target customers is large. More importantly, there are many licensed drivers who are our target customers there.
More Essay Examples on Marketing Rubric This allows the company to invest more resources in production and marketing in that one area, but carries the risk of significant losses in the event of a drop in demand or increase in the level of competition. Marketing Analysis Consumer Characteristics Approach Consumer characteristics or Personal segment basis measure in terms of demographic, Geographic, and Psychographic features of consumers.
These characteristics portray the consumers in terms of where they live, who are they and how do they behave. There are 3 kinds of consumer characteristics approach: Demographic and Socio-Economic 3.
Geographic variables Consumer markets also have different geographic characteristics.
MTV is an example of music format television channel, as it only has music related shows. A television channel’s format can be classified by the content it broadcasts. The segmentation of a channel is the division of content throughout the day to serve a different market. Example, Rolex and Seiko are both in the watch business. But Rolex sells a limited product line of high-priced quality watches. Seiko sells a wide variety of relatively inexpensive but innovative specialty watches with features like compasses and altimeters (Gary, D and Jean, P., ). Concept Of Market Segmentation Marketing Essay. The marketing theory demonstrate that to develop a successful marketing strategy correctly, service marketers must develop segmentation strategies based on the attributes and behaviour patterns of target customers. These attributes would be related to the use of the service.
These geographic characteristics are often based on market size, region, population density and even climate. A small retailer may find opportunities in a small market in which larger competitors have no interest. Companies that sell beachwear will likely sell more products in warmer climates.
Consumers in different regions of the country also have different tastes in food and style. Demographic Variables Characteristics of consumer markets based on demographics include differences in gender, age, ethnic background, income, occupation, education, household size, religion, generation, nationality and even social class.
There are 7 types of Demographic Variable: Psychographic Variable Consumer market characteristics can also be psychographic in nature. Psychographic characteristics of consumers include interests, activities, opinions, values and attitudes.
For example, prenatal magazines target expectant mothers who are interested in learning more about caring for a baby. Additionally, consumer activities can include participation in martial arts or basket weaving. Opinions and attitudes can be both specific and general. A company may better understand consumer opinions and attitudes after conducting a focus group, and can use that information to tailor advertising or marketing campaigns.
Consumer values can pertain to how a group of individuals feels about certain social issues, which can be of interest to non-profit or charitable organizations. Consumer Responses Approach Unlike consumer characteristic approach, the consumer responses approach believes in why a consumer buys a product than asking us who is the customer.
Customer responses are much more important which can be made as the basis for segmentation. Headquartered in the United States, the company began in as a barbecue restaurant operated by Richard and Maurice McDonald; in they reorganized their business as a hamburger stand using production line principles.
Businessman Ray Kroc joined the company as a franchise agent in He subsequently purchased the chain from the McDonald brothers and oversaw its worldwide growth. Psychographic, behaviouristic, geographic, and demographic basis.
To find the basic criteria for segmenting a market is are customer needs. To find the needs of the customers in the market it is important to undergo a market needs of the customers in the market it is important to undergo a market research. Psychographic and behaviouristic bases are used to determine preferences and demand for a product and advertising content, while geographic and demographic criteria are used to determine product design and region.
Age and Life-Cycle Stage Consumer wants and abilities change with age. Age and life cycle can be tricky variables. The tastes and preferences of the social class also change according to time. For this segment, watch is a fashion statement.Marketing reseach of watch Essay Sample.
INTRODUCTION. We are going to introduce our new watch—G-Smart.
We would like to show different aspects that our company, CASIO, needs to consider with in producing this product. Dissertation and Essay Samples:Marketing and company overview essay on Bremont Watches The partnership with Jaguar provides the new height of success of to watch manufacturers and enable them to increase their competitive advantage.
The design of watches is also attractive which creates their distinctive identity as compare to its. Get custom essay sample written according to your requirements. urgent 3h delivery guaranteed. We will write a custom essay sample on Market Segmentation, and Product Positioning specifically for you for only $ $/page.
My company keeps a close watch on market trends and the changing requirements of children. My company can. For example, in the past 10 years, mobile phones have become a necessary product for customers who may use their mobile phone as a watch to keep time or check the time.
This will be a major influence in the watch market as a whole and needless to say have an impact on OMEGA. Pharmaceutical Marketing Segmentation - Marketing segmentation is a tool used by in business by marketers to hone in on their potential consumers in order to satisfy customer needs with the right goods or services (Kurtz, pg.
). Oct 12, · Watch Queue Queue. Watch Queue Queue. demographic segmentation essay Александр Кулибин Demandware Case Example: Market Segmentation - Duration: