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Explain how and why groups of customers are targeted for selected products.

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Introduction

´╗┐INTRODUCTION TO MARKETING Title: market segmentation P5 Explain how and why groups of customers are targeted for selected product Task1 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. IPod shuffle: These products are targeted to students, young adults, people with low income and dynamic people. Music, size, low cost for a top brand, accessible, all these influences customers to purchase the product. The product is targeted to young adults and students who have an accessible income or choose to use the product for certain purpose, might be listening to music. They need to make sure that their product is reaching its targeted audience by the right way of communication with the customers within the market. The business must make sure that the product is released within the right area in which they can operate and maximise profit. The organisation segments the market by using demographic (age, income, occupation etc.) ...read more.

Middle

(4ps). the basis for segmentation is demographic. They use mosaic to target families in the neighbourhood. Kellogg?s variety pack: these products are targeted at kids 5-10yrs and families with children. Pester power, unique advert, price; brand etc. influences people to buy the product. The product is targeted at this group because of the pester power of children, and accessible because it is sold in all retail shops which make it easier for customers to get for examples Tesco, Asda, Morrison, Sainsbury etc. The organization mission is to target the kid so as to influence their parent to buy the product which most of the parent can?t say no.in this case parent will buy the product of the organisation and probably come back for more. The market is segmented using demographic (age, family size, income, etc.). The importance of segmenting the customers is to understand the needs and want of the customer using the marketing mix (price, place, product and promotion).the bases of segmentation is demographic which includes age, family size, income, etc. They use mosaic to target families with children in the neighbourhood. ...read more.

Conclusion

BT also segment their market based on value for example Barclays bank would demand high for internet and because it is an organisation that will run for a longer period of time, BT will give discount on the price and as well provide extra service for them in case anything goes wrong. They select their market according to their geographic location which is Europe and they are concentrated in London because of the high population of large business, in London for example canary wharf is an area with more financial organisations and the demand of internet is very high in canary wharf. BT broadband also segment their market based on private, public and voluntary sectors, they sell their services to this sectors because they demand high fro it for example BT will sell their service in educational areas such as college, universities etc. and financial organisation such as banks and public organization such as the NHS. BT broadband also differentiates their services in many ways so it can be used for different purpose for examples: for telephone calls, browsing and so on. They also segment their marker based on industry to know which is in need of it and has a buying characteristics. ...read more.

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