TUI UNIVERSITY
Module 1 Case Study MKT 501: Consumer Behavior: Segmentation and Targeting Professor Dr. Gordon Leichter
May 14, 2012
Abstract
The assignment reviews industry practices which involve segmentation, targeting and positioning. I will attempt to explain these three consumer behaviors below. The airline industry will use the above mentioned practices in order to enhance and or improve marketing strategies. In order for this to take place and marketing analyst must develop techniques to observe consumer behavior by analyzing segmenting, targeting and positioning for airline industry
Identify Key External Factors That Affect the Passenger Airline Industry
To explain how the key external factors affect the
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This segment is within airline industry but needs of customer is different. Target audience is low budget travelers, however, customers within the segment look for different attributes, for example, lunch or beverages as part of travel. Here companies can offer this by charging the customer.
A niche market is worth exploring where customers are willing to pay a premium for product, entry barriers are high and market has growth potential. In local marketing, customers are local neighborhood, trading stores, for example, many banks prefer local marketing for better understanding of client and provide them right type of service. In individual marketing, companies look forward to satisfying needs and wants of individual customer. Internet is facilitating the process of individual marketing, where in customer log on to the site and creates products from available options. This process is not feasible for high technology products like automobiles.
What Are the Target Markets for First Class vs. Business Class vs. Economy Class
The target market for the different airline class is that first class is for high budget travelers comprising passengers and the target market consists mainly of German and international business. The business class traveler primary fly in first/business class and this target is mainly geared for corporate travelers by offering a very
Sparkle Company is a Nigerian diamond mining company. Sparkle is a joint venture, 50 percent owned by Shine and 50 percent owned by Brighten. Both Shine and Brighten are U.S.-based companies with their functional currency being the American dollar. Sparkle Companies functional currency is that of Nigeria, being the Naira. During 2009, Sparkle had several transactions with its joint venture owners and outside parties. The details of Sparkle’s transactions are three loans, three expenditures, and one revenue stream. The loans the company took out were $1 million from Brighten, $1 million from Shine, and 300 million Naira from a local Nigerian bank. The expenditures
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What roles do culture, ethnicity, race, and socioeconomic status play in families' experiences in the healthcare system?
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
Plaintiff, Elian Gonzalez, a six year old minor, through his “next of friend”, Lazaro Gonzalez, filed an asylum application with the INS (Immigration & Naturalization Service), which was denied. The plaintiff’s then filed a claim in the federal district court which stated the Plaintiff’s due process rights were violated and the INS had overstepped
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Information overload in my opinion is here to stay, it is always compounding. It just takes adjustment to our technical and social systems. There are times, I recall using oversized status boards to display the status of aircraft. There were creative ideas being accomplished socially and we were able to input additional information and this led to having to build and adapt to the status boards getting larger and larger. Due time would change all of this data being displayed on the status boards and eventually we had to advance to the technical systems of the time. This update to inputting data into a computer presented challenges socially in the organization. There were costs for some of the
Niche market is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. It is also a small market segment
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As a legacy airline, it would not be productive for United to try and gain business from those that are more concerned with lower ticket fares. Instead, the airline chose to focus on the frequent business travelers as their core market. By segmenting the customers, United chose to focus on the global executives as their target market. “These folks made up only 9 percent of United’s travelers, but they represented 46 percent of United’s revenue” (Di Frisco, 2011, para. 2). By using psychographic segmentation,
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.