Essay on Marketing and Case Study

6. What are the different ways to segment a consumer market? Does it make sense to use more than one segmentation variable? Why or why not?

“You are required to write a report on how marketers use the different methods of marketing research to identify opportunities of the market, segmenting and targeting the market based on the valuable results collected from their marketing research activities.

First I will briefly explain the different types of information that Greggs could gather for market research.

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

For example, when Tesco is promoting a product, they need to know the likes and dislikes of their targeted consumers in order to target the correct market successfully. They would also be required to research about their competitors, to find out if by any chance they offered a product that was similar, and how they would differentiate their product from it. Also, as an overall, they would be required to research the environment of the market, as well as the size of their

This week, you are going to complete an Assignment in which you analyze two case studies. You will read each case and answer the questions included using the information you have gained from this course so far. Your answer should include an analysis of client strengths, possible interventions, and a reflection on the possible ethical issues and cultural influences as they might impact the case.

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.

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

1. Develop a segmentation scheme for the automobile industry in your country of residence. Using benefit segmentation, behavioural segmentation, or some other basis of segmentation, identify at least four of the major groups of consumers in this market that are evident to you. Justify, from a marketing perspective, (explain) why your segmentation scheme is an appropriate one, using the criteria in Figure 3.2 (page 77). (5 marks)

Market research is utilized by companies to make the right decisions when it comes to

Use the Case Study presented here to answer the questions below. Your responses should demonstrate your understanding of the course content and your analysis and critical thinking; you are not expected to just

Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.

Market research can provide companies with vital information which allows them to make choices based on what the customer wants. It can allow businesses to predict what might happen in the future of a

Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the

M1: Explain, with examples, how different market research methods are appropriate to assist different marketing situations. Looking back at the market research methods that could be used to collect information, methods such as questionnaires/ survey, observation, focus groups, experimentation, internet, website monitoring etc. I am going to select 3 primary and 3 secondary methods of research from the ones I have written about. I have chosen 3 primary researches which are: •