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

Case Study. As mentioned in this article, market segmentation is used in order to focus in one main area of the market. In this case, it will be the Muslim market

Extracts from this document...


Case Study - Part A - P. 71 A business can use market segmentation in order to have effective marketing. Breaking down a market into sub-groups is known as market segmentation. A business can then target these different groups and develop products and services for each of them. There are four main ways in which businesses tend to segment their market: geographically, demographically, psychographically, and behaviorally. In this article, it could be identified the use of market segmentation and one type of it. (i) As mentioned in this article, market segmentation is used in order to focus in one main area of the market. In this case, it will be the Muslim market, because it is mentioned that Marian Salzman, who is one of the world's foremost trend-spotters, predicted that the next big thing in marketing will the "Muslim Pound." So for a business it might be a good idea to center the attention into this segment of the market (ii) ...read more.


Case Study - Part B - P. 71 Market segmentation is breaking down a market into sub-groups with similar characteristics, it let a business target these groups and develop products and services for each of them. A business can have several benefits from market segmentation. According to the case of Muslims a small business benefits from market segmentation because they understand its consumers better because the Muslims have unique set of needs and the greater the knowledge they will suit their needs better and in that way it allows the business to sell more products overall. The Muslims will feel that the business is paying attention to their needs and they will develop loyalty to the business. Being focus in one segment of a market which in this case are the Muslims will help increase the profit because they exist more than 5000 millionaires in UK. ...read more.


This means that if a business focuses in selling more products counting the needs of the Muslims, they can increase their sales and gain more profit because there is a big section of Muslims in the UK. Another phase of the market targeting is to select market segments, which means choose which will be its target market. In this case it is mentioned that there are more than 5,000 Muslim millionaires in the UK. It can be inferred that businesses may want to select the Muslim millionaires as their target market in order to position their products according to Muslims unique needs to gain financial reward. In conclusion, because the Muslim market is a high opportunity area, targeting this segment of the market will affect a business marketing financial services in a positive way. Hall, Dave, Rob Jones, Carlo Raffo, Alain Anderton, Ian Chambers, and Dave Gray. Business Studies. Fourth. Harlow: Pearson Education, 2008. Print. ?? ?? ?? ?? Business and Management 1/31/2012 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Business Studies 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 International Baccalaureate Business Studies essays

  1. Nivea Case Study

    It continues even after a new product is launched. The American Marketing Association defines New Product Development as: 'The overall process of strategy, organization, concept generation, concept and marketing plan evaluation, and commercialization of a new product. It occasionally is restricted in meaning to that part of the process done by technical (research and development)

  2. Marketing. In my project, I am going to be looking at how Nestls Smarties ...

    among nine to eleven year-olds and, more specifically, of the Smarties bar with 10 to 15 year-olds, as well as to drive trial and repeat purchase of Smarties products. The popularity of the internet among this target audience makes it an important medium to use in the campaign."

  1. Rolling Case Study of Kellogg's

    It is important to note that the term branding does not limit itself to simply putting a label on a product. A brand serves to provide information and communicate a series of values to consumers. It distinguishes a company and its products in terms of attributes and qualities from its competitors.

  2. This paper will concentrate on Apples Apple TV business, and its complementing iTunes business.

    products with Apple, or users who have registered with Apple otherwise receive emails from the Apple store when a new product or feature becomes available. The email typically explains what is available and how it an make a difference in your life.

  1. Free essay

    Marketing Case Study. From many various factors for segmentation, we can choose two bases ...

    This store may be targeted on middle to higher social class as they believe in boomer parents would pay more for one that was fun and educational for their children. Pleasant Co also comes with the idea that their product must be different and special from what people can find from the market.

  2. Business plan for Laundry Toaster laundry dryer.

    What if our marketing plans work? Will we be able to handle the increased volume of sales without harming our customers or the quality of our work product? 7. Do we treat others with honesty and respect at all times?

  1. British Gas Case Study- workforce planning.

    While generalist managers or administrators can undertake some components of the recruitment process, organizations often retain professional recruiters or outsource some of the process to recruitment agencies. External recruitment is the process of attracting employees from outside the organization whereas internal recruitment is where internal labor is used for filling vacancies.

  2. Organisational Behaviour (in short called as OB) is concerned with the study of the ...

    people want or what exactly they think in view of the fact that everyone has its own personality and perception. 1. Personality Personality is the unique way of thinking, attitudes, feelings and behaving of each person. The Individual personality represents a variety of Traits.

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