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BTEC Buisness Introduction to Market Reasearch Pass 5

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Introduction

Task 4a Pass five Describe how marketing techniques- branding, segmentation- are used by Magners Cider to increase demand for its product. Definition of Market Segmentation The process of splitting customers, or potential customers, in a market into different groups, or segments, within which customers share a similar level of interest in the same or comparable set of needs satisfied by a distinct marketing proposition. http://www.marketsegmentation.co.uk/ Magners use different ways to segment their product they brand their goods in the way that it will attract to its most loyal customers and attract to a wide range of customers. Customers are all different and they have different needs. The marketing mix will be used differently to meet the needs and expectations of customers. This is done through market segmentation there are many ways that a customers can be classed into. ...read more.

Middle

The purpose of it was to build the reputation of the city this is aimed at powerful and rich people. Also at the other end there is C and C lemonade it very cheap and would be a favourable for people who do not have such a high income. Geographical Location an example of a product which is segmented for these specific terms would be Wellington boots these would be specifically made for people who live in the countryside. Buying Habits peoples buying habits can also help segment them. The business would get repeat purchase due to them meeting expectations. Nike would get a lot of repeat purchases they realise that they may need to pay a little extra but they will get better value for money. ...read more.

Conclusion

For example, the fruit drink market could be segmented by benefits sought by customers. The leading product in the vitamin drinks would be ribena, in the low calories drink it would be diet squash, in natural ingredients would be pure orange juice and the low cost section would be mainly supermarkets own brand. Purchase Behaviour Customers can be segmented into groups due to their purchase behaviour this involves putting them into two groups usually. When you separate customers into loyal customers and switchers you can target the loyal customers offer them rewards for their loyalty and try different advertising or incentives with switchers. Branding Branding is the process which companies distinguish their product offerings from the competition. This can be done by a logo like Nike have the swoosh and Addidas have the three strips also a slogan can be used Nike "just do it" Addidas "impossible is nothing". ...read more.

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