Apple Stp 4p

Characteristics of different business markets include: General market description, business opportunity, market segmentation, market size & trends, competition, customer profile and business environment. Looking at the different characteristics can help evaluate the market, this can be achieved by dividing the market into specific segments: by geographical market: by customer type: such as industries, professions, age. Evaluate the market size and trends by breaking the market into segments. This is often done to help assess who is the competition and how strong it may be within its own field.

A firm wants to expand its marketing efforts. Which market segmentation criteria should be considered?

By using Marketing strategy, organizations concentrate their resources on the greatest opportunities to increase sales and maintain a competitive advantage in its market (Wickipedia, pg1).Market segmentation is the process companies use to divide their market into groups of buyers and establish marketing tailored to individual groups. Market targeting is the process of actually choosing the market which poses the greatest profitability. Positioning involves product placement and helps marketers highlight their product over a competitor. The

How should this market be segmented? Identify the key segmentation variables that are relevant for this market.

Market segmentation allows marketers to understand customers’ needs and identify target markets (Peter & Donnelly, 2011). Bright Light Innovations will be able to evaluate different segments to determine differential advantages in each of those segments. Furthermore, management will be able to determine any of the particular marketing mix for a more successful strategic plan. Market segmentation can be obtained by researching geographic data (zip code, region, etc), demographic data (age, occupation, nationality, etc), psychographic data (social status, personal type, etc), behavioral data (customer behavior), or any other data that can be beneficial to the research (Kawasaki, 2004).

Women by age 35-64. 3) Men. Segmentation analysis can be found in Exhibit 2. The criteria should be considered during the decision making process are: 1) Market potential. 2) Profitability. 3) Cost of implementation.

4. An analysis of the industry, i.e., degree of competition, growth of industry-wide sales, profitability of competitors, life cycle stage of the industry, Porter’s five factors, and P/E ratios of competing companies.

Which segment(s) represent opportunities for Janmar? Do both quantitative and qualitative (e.g., buyer characteristics and requirement) appraisal based on sales data given in each segment of total market size

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

According to Hanlon, The STP model helps in developing marketing plans mainly because it helps in prioritizing propositions for different targets. It also demonstrates an overview of a market and a company’s competitive choices within the market.

General Issue: which segments should the company target? How should the company and its products be positioned?

Carefully evaluate the pros and cons of the segment markets and determine the market where the product has definite advantages over other

In the book, Positioning: The Battle for Your Mind, two authors, Ries and Trout, illustrate how efficient positioning a product can affect the recognition of the target market. In addition, it is an outside-in approach to the business marketing. In other words, the marketer considers a business with the prospect’s mind rather than the products. First and foremost, the authors introduce the concept of positioning---“Positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position the product in the mind of the prospect” (Ries & Trout, 1986). Moreover, the past strategies for marketing no longer match the present market, and Ries and Trout believe that communication itself is a big problem. Since our society is “over-communicated,” customers might receive overwhelming information. People’ s minds can only collect a narrow amount of information and it blocks out the rest of irrelevant information; therefore, this can explain the reason why some advertisements fail to attract the attention of consumers. The authors provide several statistic data to support their statement about the over-communicated world. Obviously, 57% of the world’s advertising is offered by the United States, America publishes more than 30,000 books per year, and the average of American family watches around 51 hours per week of television. Therefore, American customers receive too many messages from different mediums, such as television, books, and

We have evaluated different segment options based on relevant attributes such as growth potential, accessibility, loyalty, and other criteria (Exhibit 1). For example, even though the segment of customers who are buying flowers for weddings/funerals has huge revenue potential, it is not easy for C&C to convince that segment to place a mail

According to Blythe (2010), segmentation, targeting and positioning are fundamental to the concept of meeting customer need. This essay will outline and analyse these fundamental tools of marketing in an academic setting, in addition to, assessing how an organisation of my choice applies them in a working environment. Included in this essay, will be an academic discussion of the advantages of market segmentation, targeting and positioning drawing upon views of various scholars. Furthermore, I will provide a profile of my chosen organisation as well as an assessment of their market segmentation, targeting and positioning strategies. The essay will finish with a summary of the main points and will draw conclusions based on the evidence which has been presented.