Agreeing that a market segment consists of a group of customers who share a sin of needs and wants, elaborate on the concept of segmentation, targeting and posi nd explain the bases you would use in segmenting consumer markets.
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- There are many ways to segment a market, but not all segmentations are effective. Explain the five requirements for effective market segmentation1. What are the different types of Market segmentation and explain each. 2. What are the requirements for effective segmentation?It's about restuarant infront of the beach business explain the benefit you believe segmentation will add to your company’s ability in providing a better service/product to customers. Specify clearly the following: How many segmentation strategies will you be using with your market/customers? What are the segmentation strategies you are planning to use? Explain your strategies’ choice. please answer in your words
- Explain the process of selecting an appropriate segmentation approach and deciding which customer segments to target for marketing activities. ( if any outside sources are used please provide the sites )Marketers use several segmentation categories and various variables within each category when segmenting prospective markets. Thinking about the buying experience you described in Questions 1 and 2, which segmentation categories and variables may have been relevant for the marketing organization’s segmentation? Identify the specific categories and variables and construct a target audience profile (one that may approximate how that organization described you and others in your segment).1. What are the requirements for effective segmentation? Give the meaning and importance of each and an example of each. 2. What is target marketing and its importance? Give an example of it.
- Explain what type of segmentation your company might use for its market and describe who their target market is. Assignment should be double spaced, 12-point fontProduct: Amazon Echo & Alexa Devices Choose one market segment for your product and describe that segment in as much detail as possible. You need to explain the common need/want of potential customers in the segment, the demographic characteristics of the segment, the psychographic characteristics of the segment, and the geographic characteristics of the segment.How does each firm employ psychographic segmentation (such as the AIL statements and the VALS approach) to the marketing of its products? Is there a relationship between the use of psychographic segmentation and the types of products sold by each firm?
- Segmentation assumes that customers in the same segment have similar preferences and buying behavior (Green, 1977; Wind, 1978). Segmentation enables businesses to gain empathy for the segment's needs, and target them with products, services and marketing messages which are relevant. Consumers today respond poorly to mass marketing approach as “one-size-fits-all” messages lack contextual relevance (Bianco, 2004). Therefore Nike applies segmentation in its product lines to gain competitive advantage. Please share Nike Segmentation criteria and target market approaches, why they move from mass marketing to customization?Describe the segmentation strategy and bases of segmentation? My target market is people who watch the NFL ages 18 to 49.The owner of JustRight grocery use market information classified as segmentation bases to segment consumer goods and service markets. These criteria include demographic, behavioural, psychographic, and psychological factors. Which of the following does not constitute a psychographic segmentation? Select one: A. A Roman Catholic, with a graduate degree B. Enjoys healthy living C. Enjoys Netflix box sets D. Buys quality rather than economy