Ginch Gonch Essay

Marketing is a very unique process that enables limitless methods or variations for an entity to appeal to a particular target market as well as to deter from a particular market. Marketing is used in more than just business; The kinds of clothes an individual wears and the attitude a person portrays can be used to market him or herself to the public for many reasons: Maybe to attract a woman a man is attracted to, possibly to impress the president of a company a person is interviewing for, and even to just create a base of his or her character in which other people will judge him or her by. Marketing is everywhere from the business side of the spectrum to relationships people have

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2. Discuss the way the Nissan Leaf is being positioned in the market communications activity of Nissan? Illustrate your answers by considering a range of promotional mix variables.

This assignment is intended to ensure you understand some of the basic terms used in this course.

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In addition, select an organization with which you are familiar and describe how each one of the four elements of the marketing mix affects the development of the organization’s marketing strategy and tactics.

25. What is market segmentation? Why is it important to advertisers? How is it useful for banking.

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According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

1. Discuss environmental factors related to population that are changing the way certain people approach car buying and are thus creating new market segments.

The segmentation has been done on the basis of buying behavior of the customers. Knowledge of segment buying behavior can help redirect marketing resources for profit gain.

Describe the specific type of consumer that the Coca-Cola Company is targeting with each of the following products: Diet Coke, Coke Zero, Diet Coke Plus, Coca-Cola Blak, and Full Throttle Blue Demon. What types of demographic segmentation is each product’s marketing most likely to include?

Market segmentation is essential for creating value of the product in the minds of customers and consumers. Market segmentation is the process of dividing the target market into subgroups of people who are homogeneous in respect to their needs and wants. The people in each subgroup are expected to react in similar way towards a product or service (Kumar & Sharma, 1998). A product can be divided into two types; consumer product and industrial product. Market segmentation of consumer products is done on the basis of age, sex, education, income etc. Where, segmentation for industrial products is based on size of the business, location, procedure and purchasing etc. (Bose, 2006). According to Bose (2006) market segmentation is effective when company can reach segments for promotion and distribution, the segment is large enough to generate sufficient profits, buying power of the targeted segment is measurable and there is a noticeable variation in the nature of demand.

When attempting to segment the market for aftermarket truck accessories in the trucking industry we used a combination of lifestyle based segmentation and psychographic based segmentation techniques that we learned in class. Our segments were based on the results of our needs assessment paper which linked the attributes we identified to the benefits and the values. We came up with a rough estimation of the size of each segment by using the information we collected in our sample to infer what the actual size of the population maybe. We are aware that are sample is most likely biased and not a fair distribution of the segments.

Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.