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Marks & Spencer. M&S uses demographic segmentation to select its target markets for its product. It targets its customers by age, income, social class and lifestyle. There are 3 different ranges of M&S for autumn 2001, including The Perfect and Classic Co
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What market segments do the three different product ranges serve? Assume that the Perfect and Classic ranges serve essentially the same segment.
1.0 Introduction of Marks & Spencer
Marks & Spencer (M&S) is one of the UK's leading retailers with over 21 million people visiting their stores per week. M&S offer stylish, high quality, great value clothing and home products, as well as outstanding quality food and financial services. The company was started in 1884, when Michael Marks (a Russian-born Polish refugee) opened a stall at Leeds Kirkgate Market. M&S have 622 UK stores, as well as an expanding international business.
Market segmentation is a need to meet today's market realities. Market segmentation is consistent with the marketing concept and enhances a firm's ability to understand its core customers or who its core customers will be in the future (Bearden, W., et al, 2007). Most marketers try to form segments by looking at descriptive characteristics: geographic, demographic and psychographic (Kotler, P., et al., 2006). It helps the marketer identify important consumption patterns. Therefore, customers is treated differently based on firm's knowing what a customer wants and its ability to
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