• 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...

Introduction

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.

Middle

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.

Conclusion

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

  1. BTEC BUSINESS UNIT 2

    Also it is safer to do it electronically. If it was delivered by hand then there is a chance that someone will try and attack them. * Produce all of the financial documents including, invoices, credit notes and statements. This is also done on the computer as it saves time writing it all up and also saves space

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

    What flavour would you prefer Coca Cola to do new? Strawberry.... Banana.... Raspberry.... Blackcurrant.... Pineapple.... Coconut.... 11. Do you prefer this new flavour to be a soft drink or a fizzy drink? Soft drink.... Fizzy drink.... 12. Does the price of Coca Cola affect you buying it?

  1. How different businesses use market segmentation.

    Pom bears aren't crisps which are aimed at everyone. Pom bears have targeted families who have little children in their family. One way Pom bear's segment their market is by age. Most people who buy Pom bears are usually mums who buy them for their children.

  2. Business Studies Company Profile

    BMW subsidiary groups. * BMW's subsidiary companies, they would be interested in what BMW is doing, and keeping up with the objectives BMW sets for them. Local Council * High unemployment in area is not good for local economy and therefore it is of interest to the council that BMW is successful and stays in the area.

  1. Unit 1 Marketing Proposal: A01

    This could also affect the marketing department because they need to promote the products to the customers and if they are all returning back for refunds then they haven't done their job properly. The customer service department's job is to provide feedback to the marketing department so if something is

  2. Marketing Research

    Some amount of savings and investment is a must for every earning individual J) One should endeavor to always save more so that much more can be invested. K) All the savings should be invested for the future A respondent agreeing with statements 8,9,11 would be deemed to have a favorable attitude towards savings and investment.

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

    A tick on a sweater or trainer is seen as Nike. So if you think about a trainer, the first brand you get in mind is the tick of Nike. If a teacher marks your work and gives you a tick, you wouldn't exactly think of the Nike tick.

  2. 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.

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