• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

market segmentation

Extracts from this document...


M3 Target Marketing Target Marketing is making all marketing decisions, a important point on a particular amount of people who you want to reach. Target markets are normally different types of buyers who have similar common needs, desires and characteristics that a business chooses on serving. A business will normally need to recognize their target market in order to sort its everyday jobs and manage with the normal demands of this particular market place. Target marketing can be very helpful to a business as it outlines the marketing strategy. By using marketing strategy it's useful as it helps a business be more able and successful on aiming on their chosen target market that they wish to please. Not only can target marketing benefits the business but it can also be helpful for the customers that a business has chosen on pleasing as they are presented with what they wanted which meets their needs and wants. In order to satisfy these desires a business has to assess the different segments which are available and decide how many to please and which ones to serve. As it's not simple to segment a market a company will once again need to do market research the different variables of the markets and combine with other variables to find its perfect target market. ...read more.


This phones is mostly aimed at this market which means that people who Branding Branding is like setting names for products. Nobody would set up in business or launch a new product without giving it a name. Branding is a very important part of promotion. It can help a business to set up an identity to the product. Furthermore, 'Branding' contributes to the value and financial viability of businesses, just like their products, fixed assets and input. Businesses therefore would spend large amounts of money on TV and newspaper advertising campaigns, in order to end up with name that foremost in everyone's mind. Just think of 'Coca-cola' and 'Pepsi' competition, they both spend an obscene amount of money in promoting their brand each year, in order to become the dominant brand. We can also notice that many of their ads don't even contribute to its product, but rather, selling their brand and try to create "brand awareness" as well as "brand loyalty. As they simply want to create a well known brand. This becomes apparent as we just see how powerful 'branding' can be as a selling tool in the multi-media marketing environment. Such good job at impressing its brand into customers mind may also gain advantages in competing with other brands/products. ...read more.


Although it is an expensive tool, which some businesses may not be able to afford the amount of money for 'branding.' Such businesses might results with some disadvantages when compare with a well-branded business, however for some cases/markets, branding may not be as important to consumers, such as plants. Ultimately business is only as good as the identity that underpins it, as 'branding' allows businesses attract new customers and make "established" customers return time and again. Thus, increases ones' profit. Conclusion The use of segments enables a company to specifically target an audience within a population. An example would be if I asked all of you what you would go out and spend fifty pounds on if I were to give it to you now. The chances are that everyone would come back with a different suggestion. However it I likely that some of you would go and buy clothes, some you would go and buy CD's or DVD's and some of you may possibly save the money instead. By grouping people together it is possible to target a product at an audience that will wan to buy the product. This should ensure a return on investment quickly for the producer and could lead to rapid growth. However a universal product is unlikely to appeal to a wide range of people so it is possible for a producer to create products for different market segments ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Marketing & Research essays


    * Sending the emails to the colleagues within the business. They use the computers rather than writing out letters by hand as it saves time and effort. * Preparing the contracts of employment. The contracts of employment are prepared using Microsoft Word.

  2. For this assignment I have been asked to produce a new marketing strategy for ...

    Do you think it would be a good idea to launch a new flavour of Coca Cola? By looking at this bar chart I can see that out of 72 people 62 people defiantly believe that it would be a good idea to launch a new flavour of Coca

  1. How different businesses use market segmentation.

    This is because less people will be listening to it so they don't need to play the music that's in demand. Pom Bear's - Pom Bear's's like other food companies they need to understand and recognize their target market and are able to recognize that and be able to communicate with them so they keep buying their products.

  2. Business Studies Company Profile

    THE ROLLS-ROYCE PHANTOM MERCEDES MAYBACH 57, BENTLEY FLYING SPUR, MASERATI QUATTROPORTE AND MERCEDES S65 AMG LIMOUSINE. Local residents * Local residents would also be stakeholders, they are affected by the factories they live by, and this would include pollution, commerce, traffic and noise as well as employment.

  1. I am going to be writing about the concepts of marketing distinctiveness of the ...

    When you want to order something from Sainsbury for example, they will ask to sign up, not only to get the address but to get more details and have a record of the customer in the system. Based on the information they can recommend more products to the customer.

  2. Unit 2 Investigating business

    * Shareholders A stakeholder is any party that has an interest in an organization. Stakeholders of a company include stockholders, bondholders, customers, suppliers, employees, and so forth. Source (http://www.yourdictionary.com/business/stakeholder) The stakeholders have a specific interest in the business and the outcome/success/failure of what they are doing.

  1. P5 Introduction to Marketing: What is Market Segmentation?

    Occasions include when a product is consumed or purchased such as breakfast cereals or seasonal goods relating to events such as Valentine?s Day. Usage can relate to the markets that are heavy, medium or light users. Loyalty relates to consumers that always purchase a certain brand ? these are valuable customers.

  2. Coca cola marketing plan. The following marketing plan forms the basis for the ...

    has declined due to a large proportion of consumers who are opting for the trend towards healthier alternatives in the functional drink segment (energy drinks, smoothies, milk & juice drinks, sports drinks) as well as bottled juices and water (ref.5).

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work