In order to satisfy the needs of customers, marketers adopt the concept of market segmentation where markets are divided into homogeneous subsets with similar characteristics to service them efficiently. THIMER AMOVI a. Discuss four (4) bases of market segmentation for a product of your choice and its implications for marketing strategy
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- As part of the process required before launch, one needs to consider the segmentation, targeting and positioning of the potential market. In order for the business to market the new range of CDB oils successfully, the bases for segmentation should be carefully considered. These include: o Geographic;o Demographic; o Psychographic; o Behavioural. Discuss any three behavioural segmentation bases you believe to be most relevant to theCBD oil marketing strategy in South Africa.In order for your business to market the new range of CDB oils successfully, the bases for segmentation should be carefully considered. These include:o Geographic;o Demographic;o Psychographic;o Behavioural. Discuss any three behavioural segmentation bases you believe to be most relevant to the CBD oil marketing strategy in South Africa. In general, seven positioning methods can be distinguished. Select and discuss two positioning methods you believe would be best suited to the market you have selected fortargeting.Market segmentation entails deliberate attempt to identify market with homogeneous needs to profitability.Based on this understanding,explain to the management of Ultimate Concrete product. 1.five practical reasons why the company should segment their market 2.Four practical approaches Ultimate Concrete products can employ to segment and identify their markets 3.Two target marketing strategies Ultimate Concrete products can adopt to create value for the customers
- Select a market or product category for study. Whether it’s a market in which the firm already competes, a new but related market or product category, or a totally new market, the overall market or product category should be clearly defined. Choose a basis or bases for segmenting the market: There are no foolproof procedures for selecting segmentation variables, but the segmentation scheme must produce segments that meet the four essential criteria discussed earlier in this chapter (substantiality, identifiability, and measurability, accessibility, and responsiveness). Select segmentation descriptors: Segmentation bases need to be clarified with descriptors to identify the specific segmentation variables to use. For example, if a company selects demographics as a basis of segmentation, it may use age, occupation, income, or some combination of these as descriptors. Profile and analyze segments: The purpose of this step is to determine the segments’ size, expected growth, purchase…ead the Marketing in Action Case on page 180 at the end of Chapter 5. . Answer all Questions for Discussion on page 181, question numbers 5-32, 5-33 and 5-34. Questions for Discussion 5-32. Review the four steps in one-to-one marketing. How is Spotify following each of these to support their marketing efforts? 5-33. What are some examples of unstructured data that Spotify is probably using in their analysis? 5-34. Could Spotify use the Internet of Things with their service? Share a couple of innovations they could add that would fit into this category.As part of the process required before launch, you need to consider the segmentation, targetingand positioning of your potential market. Consider the following questions and compile a reportfor management of no more than 600 words. In order for your business to market the new range of CDB oils successfully, the bases forsegmentation should be carefully considered. These include:o Geographic;o Demographic;o Psychographic;o Behavioural.Discuss any three behavioural segmentation bases you believe to be most relevant to theCBD oil marketing strategy in South Africa. In general, seven positioning methods can be distinguished. Select and discuss twopositioning methods you believe would be best suited to the market you have selected fortargeting
- In every stock market change, even a downturn, there is an opportunity to use the power of segmentation to make a company's product or service stand out. If the company is focused on income level and lifestyles--what combination of segmentation approaches that were discussed n Chapter 6 are executed? product segmentation and benefit segmentation benefit segmentation and volume segmentation volume segmentation and geographic segmentation demographic segmentation and psychographic segmentationAhmed wants to perform target marketing.Which of the following should he do? A)He should copy the strategies performed by the competitors B)He should target the segment which provides less customer value C)He should target the segment which provides short term profit D)He should target the segments in which he can generate the greatest customer value and sustain it over timeMarkets must be segmented for any marketing strategy to be effective.This is because from the identified segments, the firm will choose oneor more target markets. The choice of target market will then determinehow which of these concepts are designed? a. Four Ps (product, price, place, promotion) b. SWOT analysis (strengths, weaknesses, opportunities, threats) c. STP (segmentation, targeting, positioning) d. GM (gross margin) e. SBU (strategic business unit)
- Discuss the concepts of market segmentation and product positioning, and explain how they are related. What are the variables that can be used to segment markets? Also, how many variables should typically be used to segment markets efficiently? Justify your answer.As part of the process required before launch, you need to consider the segmentation, targeting and positioning of your potential market. Seven positioning methods can be distinguished. Select and discuss twopositioning methods you believe would be best suited to the market of the new range of CBD oils you have selected for targeting.PLEASE RESPOND TO THE FOLLOWING: “LATERAL MARKETING STRATEGY” 1ASSESS THE VALUE OF TARGET MARKETING AS AN EFFECTIVE HEALTH CARE MARKETING STRATEGY APPRAISE THE DEGREE TO WHICH VERTICAL AND TRADITIONAL SEGMENTATION HELP MARKETING MANAGERS USE TARGET MARKETING STRATEGIES SUPPORT YOUR RATIONALE WITH AT LEAST TWO (2) SPECIFIC EXAMPLES OF TARGET MARKETING WITHIN A HEALTH CARE ORGANIZATION WITH WHICH YOU ARE FAMILIAR 2 EVALUATE THE IMPACT OF LATERAL SEGMENTATION IN ENCOURAGING MARKETING MANAGERS TO LOOK BROADLY AT MARKETS IN ORDER TO IDENTIFY PREVIOUSLY OVERLOOKED OPPORTUNITIES PROVIDE AT LEAST ONE (1) SPECIFIC EXAMPLE OF QUALITY INITIATIVE WITHIN A HEALTH CARE ORGANIZATION