Introduction
This paper will look at the chosen area of decision making, which was the Target Segment. This required the analysis of the different target segments available when marketing a backpack in a virtual game (MH Practise, 2016). The target segment, also known as the market segmentation, is a similar group of customers to whom a company wants to appeal to (Lamb, 2016). The purpose of market segmentation is to enable the marketer to tailor to the marketing mix. This will allow the company to ultimately cover various segments in a market. There are numerous ways to segment a market. This can be done through demographic, physiographic, geographic and behavioural segmentations (Pewa, 2016). Throughout the report the target segments
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This will allow companies to heavily market on social media, which as outlined by LYFE marketing as the cheapest method of marketing (Lyfe Marketing, 2016).
However, University student may present an issue when trying to market backpacks at a higher price. Often many students are not willing to spend large sums of money on a product, but will still want a good quality product. This is where it becomes difficult for a company to maintain a large profit margin whilst still producing a quality bag. Those between the age of 25 and 34 years, who could be classified as university students, have an average income of $1,200 a week before tax (Australian Bureau of Statistics, 2016). If they are not living at home, a large sum of this income would be spent on rent as well as food, leaving a small amount for personal shopping purchases.
School Children
The second target segment is School Children. School children are a very important as children have a large proportion of family expenses (Pewa, 2016). Children often present large brand loyalty (Lamb, 2016). It is believed that children will constantly request a good or service from their parents. Often children might see a product advertised by sporting star and will have an instant connection and want the good or service (MH Practise, 2016).
School children present many advantages as a target segment. The first being that 87% of parents supply an income to children (Calvert, 2008) .This means
This is the medium used by the firm to communicate with its target customers about the product positioning and the value offered. While launching a new product, Promotion creates awareness about the products or share information on how this service can solve customer’s problem. Once the customer makes the purchase decision and the purchase is executed, the company shifts promotional focus on retaining the customer and applies suitable promotional strategy. By combining personal and non-personal selling efforts a firm can aspire to “create a new customer and keep him” (quoted by Levitt). Therefore, for Target to successfully launch and sustain the product line for children, it is crucial to pay close attention to products and promotions from the marketing mix. The following recommendations will help Target to plan their marketing
Social media is a great asset for businesses to use to help grow the American economy. Everyone's lives run much more effectively and smoothly when the economy is thriving, and the economy can no thrive without businesses booming. A great way for the business word to stay in the up and up is by using the media. Businesses can reach out to there clienttell to advertise a product with these sites (social media in business). Staying in touch with the people is the only way to hear their thoughts and concerns The business can grow when they are able to reach out to either existing clients, or catch the attention of a new base of clientele. With an ever changing economy it is crucial that businesses stay on top of what is trending in the markets.
It is interesting how social media today is influencing the marketing role of many companies and how it’s playing a big role in their success. The more the company advertises on social media, the
From a company standpoint, a social media can be used to capture different customer insights and better follow the trend. If some social media users were looking for a specialized product and were not able to find such product,
Social media is different from more traditional marketing tactics as it offers a free platform that is easily accessible to anyone with internet access. This allows for the increase communication for organizations to foster brand awareness and often, and
The use of social media has a very wide variety of advantages and disadvantages for companies. In essence it’s an extremely cheap way to reach consumers, and help them develop a brand perception. Companies can use it to hit a wide audience, and show them about a new product, or deal going on. They can also use social media to develop conversations with their consumers. This can positively shape thoughts and ideas about the brand. Also companies can use analytic services figure out the demographics of who is interested in their
lasting shift in investor preferences may be taking place—driven in part by the growing influence of
Social media has the power to strengthen awareness and trust between a brand and its target audience. By creating content that is both engaging and interactive allows brands to strengthen the relationships with their audience and gain a deeper understanding about their wants and needs.
Marketing is continuously changing and growing within the business field. Recently, social media is becoming one of the main marketing strategies used by companies, which is known as social media marketing. Twitter, Facebook, Instagram, YouTube, and blogs are some of the platforms used in this area of marketing. These types of social media allow consumers to be updated by following their favorite companies. It is not a surprise companies are starting to regularly use this form of marketing due to the role social media has in today's society. Social media does, however, impact a company in a multitude of ways. There is much debate on whether companies should or should not use social media to market themselves. Even though there are some flaws
Through the violent deaths and hypocrisy, doubt in the sacred is reintroduced. Eileen Barker illustrates brainwashing as the ‘control the religious leaders have exerted over their followers’. This questions whether belief is imposed or cultivated. John Updike writes that ‘Everything seemed still in place, yet something was immensely wrong’. Highlighting the sense of doubt in postmodernist texts, one may find that some things, such as religion, cannot be explained. Faith can waver or hold steadfast, characters revisiting belief in skepticism as ideology falters. In The Satanic Verses, truth and falsity is ultimately ambiguous. Some characters are featured as wrestling with religious doubt, others like Gibreel and Saladin think over their atheism after supernatural events. Definition is resisted, borders blurred, it is questionable whether events are happening or merely figments of imagination. Gibreel asks for ‘some sign’(30) that God is present during his illness, but realizes he is talking to air. He ‘lost his faith’(29) and even after metamorphosis, it is revealed that Gibreel is schizophrenic. The metamorphosis may be invented, as Rekha says to Gibreel ‘maybe you are going crazy’(7), but he is seen by several others to levitate. Illustrating the struggle between the real and imaginary, miracles are doubted, neither denied nor confirmed. From ‘Where there is no belief, there is no blasphemy’(380), the sacred is discredited and blasphemy is no more than a simple
Clever marketers already know about this benefit which is one of the reasons why they were the first ones to use social media. Research has shown that by creating social media strategies small businesses are creating new ways to connect with their customers. A recent survey revealed that the best benefits of social media marketing are producing more business publicity, increasing traffic, and increasing search engine rankings. All of these benefits are particularly imperative for small businesses with reduced capital as the owners frequently have many positions in the company and consequently have many requests. Social media can play a major part in helping small business owners save money and cost by forming a way to accomplish many assignments at the same time making sure that business operations are efficient and finances are taken care of. (Schaupp and Belanger 187). The most important economic factor in social media marketing is the time it takes to understand the benefits of all of the hard work. Nevertheless, advertising costs could possibly be decreased or removed by taking advantage of using social
Social media gives you the amazing potential of finding your target market and sell directly to them in a mutually satisfying relationship. Social media is also a great place to watch and learn from your competition and your industry.
Social media has become essential as a marketing tool for CU's, which is why 74% of marketers are incorporating social media into their marketing budgets. The CMO Survey released in August 2014, indicates that “marketing budgets are expected to increase by 7.2% in the next year.” With 1.65 billion social accounts that are active globally, social media has become an effective
Social media has grown into one of the most useful digital marketing tools for business owners and corporations and is designed to feed us information at a fast-moving speed. There are many advantages to this development as well as disadvantages. Information is easily obtainable, instant and causes credibility issues. It is important to know and understand all the benefits and disadvantages before using social media because it can alter how a person may use it.
Marketing to people in the world is done in different ways depending on the demographics. “Demographics underlies almost every marketing program, and is often a source of potent insights and opportunities for marketers (Hiam, 1992).” In society today, the different age groups and social classes of our population are part of the demographics that are considered. The groups are these: the youth market, teens, underclass, baby boomers, elderly and marital status (Hiam,