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Market segmentation uk essays
planning and strategy can be readjusted depending on the consumers behaviour in a segment. Variables that are commonly used for segmentation are geographic (region, country size, climate etc. Essay on the Requirements for Market Segmentation. For example, North Star shoes of Bata Company aim at young men, college students and executives who exhibit a life style and tastes different from others. Demographic: A worldwide restaurant like KFC is targeting people in all nationalities. A market represents a group of customers having common characteristics but two customers are seldom common in their income, tastes, preferences, and buying decisions. Express are smaller stores in local communities for people who would find it difficult to get to a large Tesco store. A separate branch or division is usually formed for each segment representing a specific activity. Orange offered to provide a reliable, high quality overall customer experience with good value for money(they) targeted the whole market, not just a specific segment. Essay on the Types of Market Segments.
Mercedes and BMW both have, for example, quality images and are priced high relative to most competitors but Mercedes has historically had a greater appeal among older, more conservative drivers and BMW has appealed more to those who see themselves as dynamic and thrusting. Psychographic, profile, the behavioural category covers: benefits sought, purchasing behaviour and product usage and perceptions and beliefs. Nike doesnt only sell athletic shoes, but an extensive assortment of sporting goods and garments. Action-Ability: The segments of the market must be actionable. From Value to Finest and from Express to Extra, theres something for everyone at Tesco. Nclusions and final thoughts Back to: Custom Essays In a 1994 article on segmentation in the retail sector the following statement is made: any strategic option depends on clear positioning against competitors and customer groups (and the ) approach of integrating competitive analysis with market. Markets can be divided depending on a number of wide-ranging criteria. . These customers will spend more and will buy products which offer the retailer higher margins.
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They also have an on-line ordering and delivery service. Figures therefore, for the most part, need to be gleaned from outside sources or estimated. . Accessed ; Available from: p?vref1. With the development of children and women sports, new product lines were eventually developed. Pretty much like Nike, Adidas manufactures sport goods for both professional athletes and general public. The process of segmentation is supposed to be performed by each company being interested in creating and successfully implementing marketing mix, which implies product development, placement, promotion and choice of appropriate pricing strategy. With its strategy of consolidation, copied directly from Wal-Mart, Asda pursues an aggressive takeover policy of small towns, wiping out local competition and local jobs.
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