Nivea Marketing Research

Market segmentation as a term came up to describe the concept that all customers are not alike. Because in hospitality industry marketing money and resources are limited, it has to concentrate on specific groups of people, or target market, to avoid waste in time, money and quality. As a result, it’s ensuring the highest returns. [1 pp19] The reasons why segmentation is so important for hospitality industry are – more successful use of marketing money, clearer perceptive of the needs and wants of special customer groups, more effective developing of service, greater correctness in selecting promotional vehicles and techniques. [1 pp173]

Organizations usually employ market segmentation in competitive markets for appropriate targeting of customers. This paper provides an analysis of how market segmentation can be utilized for competitive advantage as well as the need for ensuring diversification for sustainable growth.

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

The market consists of many types of customers, products and ns. Marketers must determine the segment to offer the best opportunities. Users can be grouped and served in a variety of ways based on geographic factors, demographic, psychographic, and behavioral. Process divides the market into different groups of buyers with different needs, characteristics, or behavior who might require separate products or marketing program called market segmentation. Some clients want to be a style leader. They will always buy a particular style and

Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications

Consumers are constantly changing, with the pressures of life and lack of time; we are becoming more of a spiritual society. Our concern towards the environment is increasing along with social responsibility. For consumers nowadays, transparency is something vital and they are increasingly aware of what ingredients make up a product. Men’s habits in regard to personal care has been increasing rapidly over the past few years and the trend is to continue, which will change the market. The anti-aging skin care segment is also growing due to the large population of baby

Market segmentation is a process of segregating the market into different smaller groups. A market comprises of large number of heterogeneous customer base with distinct tastes and preferences. A marketer needs to classify and segment people into smaller homogeneous groups basis similar characteristics, tastes, preferences, likes, etc. so that they will respond in a similar fashion to a particular product launched for that segment. Thus, market segmentation can be defined as, “the sub-dividing of a market into homogeneous subsets of customers from the

As every customer has unique needs and expectations towards certain products, the ultimate goal of market segmentation is to organize customers into groups which allows targeting of customers with similar needs of and response to the products. The key is to minimize differentiation within each segment

In 1993, Researches showed that men were interested in skincare products for after shaving protection. Also, it showed that men are willing to buy products that help calm and soothe irritated their skin. Therefore, Beiersdorf’s developed NIVEA FOR MEN fuller range of male skincare products.

A company must design the proper marketing plan and exercise a full understanding of the stages of the life cycle of their product. Focusing on these things will play a key role in how successful the product or service will be and for how long. Perceptual maps help companies discover changes that are available in the market for them to develop their strategies and tactics accordingly. It is easier to see which way you want to go with your product or service if you have the plan in place and have a map in place for how you will do it. Going

Different kinds of people display different buying patterns even in a segment of age group 18 years to 25 years. This truth is well understood by those people who are responsible for market research, product development, pricing, sales and strategy. Market segmentation is the identification of portions of market that are different from one another. Every individual falls under one or other demographic segment

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.

The world is made up of different people, therefore segmentation provides consumers products that fulfil their individual needs. Martin (2011) states that companies have to try different segmentation variables either alone or in combination because often the best choices arise from using various strategies. There are few ways to segment a market, therefore, companies must think innovatively and be willing to re-segment if needed.

‘Market segmentation represents an effort to identify and catergorise groups of customers and countries according to common characteristics’ (Keegan and Green 2016, p.228). For any business, it is crucial that they segment their market accordingly or they will risk forgoing sales opportunities. Fahy and Jobber (2015) identify the objective of market segmentation as distinguishing groups of customers with similar requirements so

In 1993, NIVEA FOR MEN developed a fuller range of male skincare products. This reflected