Ici Dulux Trade

The marketing audit can be defined as a systematic examination of a business’s marketing environment, objectives, strategies, and activities (David Jobber). An audit is used to identify key strategic issues, problem areas and opportunities. If a business wants to put in place a plan of action to

What is Market Segmentation? According to Investopedia (n.d), market segmentation is a term used in marketing that refers to the aggregating of a potential buyer into groups, or segments, that share common needs and would respond similarly to a particular action in marketing. By utilizing market segmentation it enables Victoria’s Secret to target different categories of consumers who recognize the full value of certain products and services differently from one another. Furthermore, market segmentation is an extension of market research for the purposes of identifying targeted groups of consumers in order to tailor products and branding in a way that it is attractive to that group. There are three general criteria used to identify different market segments: homogeneity, distinction and reaction (Investopedia, n.d).

Liquid polishes can also be viewed as emerging competition towards the solid wax market. Presently waxes account for two thirds of the market by volume, and half by value. The remainder is accounted for by the newest development in the market, the introduction of liquid shoe polishes, growing at approximately 20 % per year. Scuffer, a product of Smart Shoe Co. Ltd., dominates the liquid polish market at 70 %. The rest of the market is controlled by a sole competitor, Patent, a product of Patent Leather Company Ltd.

The marketing audit is a fundamental part of the marketing planning process. It is conducted not only at the beginning of the process, but also at a series of points during the implementation of the plan. The marketing audit considers both internal and external influences on marketing planning, as well as a review of the plan itself

Market segmentation is the process of dividing a market up into different groups of customers, in order to create different products to meet their specific needs. The most obvious type of segmentation is between customers who buy distinctly different products.

Customers from various existing markets differ from what they needs and wants, behaviors, and locations. With market segmentation, organizations are able to divide the large number of market to smaller and specified segments, thus it can be approached more effective and efficient with the targeted products that are matched to their particular demands (Kotler, 2010).

Market segmentation it may be defined as a process of dividing potential customers into certain subsets or segments having similar levels of needs or characteristics, and providing them with the products they need to satisfy them. Marketing segmentation has some benefits. In the past the mass marketing was used by the companies to achieve the economies of scale by use the same marketing channel star for all consumers. The segmentation is so important because the differentiation. In the markets helps products complete also segmentation enable the business to produce differentiate offerings on basis of features as price, packaging and styling. Segmentation leads Marks & Spencer to the success and the growth. By segmentation Marks & Spencer become

Market segmentation can be well-defined as splitting a market into some smaller groups based on product’s

Market segmentation can be defined as the subdividing of a market into distinct subsets of customers according to needs and buying habits. 2. Market-segmentation is an important variable in strategy implementation for at least three major reasons. a. First, strategies such as market development, product development, market penetration, and diversification require increased sales through new markets and products. b. Second, market segmentation allows a firm to operate with limited resources because mass production, mass distribution, and mass advertising are not required. c. Finally, market-segmentation decisions directly affect marketing mix variables: product, place, promotion, and price,. 3. Geographic and demographic bases for segmenting markets are the most commonly employed. E-Commerce Perspective: Male Versus Female Internet Usage Globally. Males dominate the Internet in every country except the United States. C. Product Positioning 1. After segmenting markets so that the firm can target particular customer groups, the next step is to find out what customers want and expect. This takes analysis and research. 2. Identifying target customers on whom to focus marketing efforts sets the stage for deciding how to meet the needs and wants of particular consumer groups. Product positioning is widely used for this purpose. 4. Positioning entails developing schematic representations that reflect how your products or

A marketing audit is an evaluation of the marketing within an organisation to see if their strategies in place are effective within the marketing environment.

Market segmentation is the process of dividing the market into parts that are different from one another. It is the identification of potential customers who would buy your products. Different customers have different needs and it is not possible to satisfy these needs by treating all customers in a similar way. Most organisations do not have all the resources to satisfy the needs of all the customers. Therefore, it is necessary to identify the similar groups of customers and to serve one or two group with the available resources. When market segmentation is done well the members in each segment of the market are as similar to each other as possible inside a segment and are also as different as possible

“What is a marketing audit? Quite simply, it is a detailed analysis of the elements that constitute or influence a company’s efforts to profitably market its products- today and in future when both market and products may undergo radical change” ( John, Alexander, & Theodore, 1969). The marketing audit helps to understand the fundamentals of a company’s marketing planning process. Auditing is not only conducted not only at the planning stage and also conducted during various stages until the implementation of the marketing plan.

Market segmentation involves grouping various customers into segments who share similar sets of needs and wants, each segment will respond to a different marketing mix strategy through market segmentation a company can more effectively design, price, communicate and deliver its product or services. Some different ways a company can segment its market include the following:

Marketing audit can be defined as a study, inspection, review and/or evaluation of marketing activities of any company. Basically, it estimates the marketing environment of the company, aims, strategies, and policies of the company. After evaluation of marketing plans and strategies, it has to identify the mistakes, weaknesses, insufficiencies, complications and other issues to be encountered in firm’s marketing purposes. The final outcome of the marketing audit recommends measures and/or suggestions to overcome these defined limitations of the current marketing plans. It defines the new marketing opportunities for the company’s growth. Generally, marketing audit tries to improve the performance of company’s marketing activity. In other words, Marketing Audit is a broad, organized, self-governing and systematic examination process for firm’s marketing activities.

“Marketing Audit is a systematic independent and periodic analysis of a company (Business units), its an essential part of planning process in every organization with a view to determine problem and recommending plan to improve company’s marketing performance”.