Market Segmentation
Market Segmentation Market segmentation is all about deciding what products to make and sell by finding out who the likely customers are going to be (e.g. aiming at young or old people.) By knowing this businesses are most likely to be making bigger profits rather than businesses that don't know the market network inside out. In order to target certain customers, businesses break down the market for certain products into different groups. This is known as Market Segmentation. Businesses can segment their market in different groups such as AGE, GENDER, INCOME, and AREA. There are other ways of segmenting such as: Repeat Customers Impulse Buying Planned Buying Brand Loyalty There are numerous reasons why businesses should attempt to segment their markets carefully. Firstly, it's to match the customers' needs. Another big reason is to make enhanced profits for the business itself. Also, there are better opportunities for growth. Lastly, it is to retain more customers. Gain share of the market segment Unless a business has a strong or leading share of a market, it is unlikely to expand its profitability. Minor brands suffer from lack of scale economies in production and marketing, pressures from distributors and limited space on the shelves. Through careful segmentation and targeting, businesses can often achieve competitive production and marketing costs and become the
Stock Market Crash
Stock Market Crash A stock market crash is a sudden decline of stock prices in stock markets. It usually happens due to panic among stockholders and various economic factors. These crashes usually occur after a long period of rising stock prices (due to going speculations), when P/E ratios are far above their averages. According to Benjamin Graham, the father of securities analysis, there are three main forces behind the market crash: the manipulation of stocks, the lending of money to buy stocks and excessive optimism. The most famous market crash, the Wall Street Crash of 1929, also known as Black Tuesday, happened on October, 29 1929. It is regarded as a start of the Great Depression. All of the three forces mentioned above contributed to this crash. American economy was blooming in the 1920s. NYSE was the largest stock market in the world. From 1920 till 1929 many stocks quadrupled in value. Thus, many people invested their money in stocks, expecting to gain profit. It led to speculative boom that took place in late twenties: the rising share prices were encouraging people to invest even more. Many of the investors had to borrow money to buy stocks but they only had to have 10% equity and 90% margin to buy securities. Speculations on stocks stimulated further price rises and created an economic bubble. The P/E ratios in 1929 were far
Describe how to identify the target market for your coffee shop.
Unit 10 A 2 P 2 Describe how to identify the target market Business Idea My business idea is the Coffee Shop, as the name suggests I would sell the coffee under the name "Coffee Paradise". The Coffee Shop would be a new creation, so completely new business set-up would be required, not replacing existing one or franchise. As I said my business name would be "Coffee Paradise", this will be brand new business. I do not want change some existing business into my paradise because the costs of it could be much higher than it's worth it even if some benefit of it would be somehow already prospering coffee shop. I want my business to be mine from the beginning and in this case I choose to set-up a new business from the foundations to make it exactly as I want it to be - look, place, staff. In order to find if my business is going to a success I have to assess the suitability of my product and whether the plans fit the situation I will put my business into. My coffee shop will be a small business, which will operate as a sole trader, so I have to think about what type of risk I will be taking by setting up the business. I also have to consider whether my plans can actually work in practice and whether I considered all the factors, for example: are the funds available or will my coffee shop be able to deal with the competition in surrounding area. Business Objectives The
Car Market Segmentation.
Introduction Car Market Segmentation The market for cars is just like an orange. It is divided into different segments. There are hundreds of different cars to suit everyone's needs. They are designed to match various people's needs and tastes. For example it is unlikely that you will see a family of six people in the latest sports car. People in this situation are more likely to a people carrier that has more room and seats. The market for the car industry today is segmented like this: Then 'income' is also split in to section: Essay To answer the question 'How does a car company segment the market?' I chose to look at two large car manufactures, Renault and Honda and sent out a letter to the companies. I then received information and adverts from the companies. To follow this up I then analyzed two Renault adverts and one Honda advert to see how the car was segmented. Renault: Advert 1 Laguna I think that the car advertised will be for either male or female as the have used cool blues and whites which look very classy and elegant. The surroundings around the car are all blurred, which shows speed which appeals to males as that tend to enjoy adrenalin rushed trough cars. However the plain, non - detailed backgrounds appeal to females as it show that the car is a way of escape. The car might be aimed for customers over the age on 25 or in a professional job. This
Research Methodology
Research Methodology Paper Donna L. Stefanick Psych 535 February 7, 2011 Dr. Frances Kelley Research Methodology Paper Research methods are a variety of techniques that people use when studying a give phenomenon. Research methods are well thought out and planned, scientific based and value neutral. This means that in order to have good research methods, a researcher must design the research in a way that maximizes the accuracy of the results. Research methodology is the framework used to study and compare different approaches of individual methods. Multicultural research, or sometimes called cross-cultural research, focuses on uncovering an individual's behaviors that are impacted primarily by cultural influences. It is designed to examine human behavior and test hypotheses about the influences of behavior and culture. The ability to conduct multicultural research is becoming more of a challenge for researcher as the United States becomes more culturally diverse. For researchers to conduct competent research, they need to consider how culture may influence areas like definitions of concept and methodological issues. Researchers need to consider how things like sampling, recruiting participants, developing and/or translating the instruments, and disseminating findings are affected by culture, race and ethnicity. This paper will compare and contrast the variables
Market Economies- characteristics and examples.
Market Economy Market Economy- is an economy in which the decision of individuals, firms and the pricing of goods and services are guided solely by aggregate interaction of a country's citizen. In contrast within this system all goods and service a part from pure public goods are provided via the market mechanism. The consumer decided what is to be produced this is done according to consumer sovereignty, their spending/purchasing votes tell producers which goods and service are wanted at a given price and which are not. The mode of production (how goods and service are provided) will be determined via market mechanism. This is simple saying the producers will be anxious to attain the least cost means of production available to them. The key point in production of goods and services is that the buyers and sellers interact in the market on prices and its system. For example if milk is has an short supply but has a high demand towards then adversely it will have a high price attached to it. The price in this case and the demand of the product from people determines decision of what is to be produced or taken. The price in this case acts to indicate the market value of resources. The government has a very restricted part to play in that it should control national defence, act against monopolies, issue money, raise taxes and protecting the rights of the private sector. Examples
Memory research
Much of the traditional laboratory research on memory conducted in the past century has followed Ebbinghaus (1895) in using tightly controlled experiments that facilitate the quantification of memory (see Baddeley, 1990; Schacter, 1989). This tradition has been strongly criticized in the past two decades, however, most notably by Neisser (1978), who provocatively dismissed the laboratory research of the past 100 years as largely worthless for answering "the important questions about memory," and called for a shift to the "realistic" study of memory. Since Neisser's call, there has been a growing number of studies on such varied topics as autobiographical memory, eyewitness testimony, prospective memory, "flashbulb" memory, memory for action, memory for faces, memory for places, etc. (see, e.g., Cohen, 1989; This new wave of everyday memory research has resulted in a proliferation of research methods that are quite removed from those traditionally employed in the laboratory. The rift between proponents of naturalistic and laboratory memory research, as well as efforts at reconciliation, may be seen in the lively debate) sparked by Banaji and Crowder's (1989) paper. It is apparent from the commentaries that "everyday memory" is an ill-defined category (Klatzky, 1991), and that the dimensions of the controversy are not simple to specify. In general, the battles appear to be
Managing Research and Information: Data Protection Act
Managing Research and Information First Name: Hanjuan (Vicky) Surname: Deng Title: Data Protection Act The Data Protection Act (DPA) exists to ensure that information relating to people that is stored in computer databases (e.g. PMR systems) or written records (e.g. physical or mental health or condition )is confidential. The 8 Data Protection principles Anyone processing personal data must comply with the eight enforceable principles of good practice. These state that data must be: I. Personal data shall be processed fairly and lawfully, unless it shall not be processed. For example, the company has got the right to take their details about their date of birth or their credit card number if customers want to book holiday in an agency. It is fairly to exchange the data. Furthermore, their privacy details are protected by the law. Also the company must keep them securely. 2. Personal data shall be obtained only for one or more specified and lawful purposes, and shall not be further processed in any manner incompatible with those purposes. 3. Personal data shall be adequate, relevant and not excessive in relation to the purpose or purposes for which they are processed. For instance, we are doing special offer for the customers who have got best payment records, so we only need to put relevant details about theirs address, telephone number, e-mail address, and good
Understanding and using research
Unit 10 Understanding and using research Introduction For this assignment I will research in different fields of health and social care to come up with my hypothesis. I will base my research on factors affecting individual's health. I will then find out which health condition seems to be most popular in affecting individual's health. After doing some primary and secondary research on the different factors, I will then look more into depth in the condition that seems to be affecting pupils in large amounts. So I will base my hypothesis on the condition which is most popular in the world today. Research is mainly used in health and social care fields to investigate new aspects of care related situations by carrying out surveys and collecting qualitative data of some kind. It is also used to test and review existing knowledge from different sources such as internet books and is also used to test and review treatments and practices. It helps to explain the relationship between factors affecting health and well-being and helps to evaluate service interventions and policies and helps to make new policies and plans. There are different types of research methods in health and social care fields. Research methods are used to achieve the aim they have been carried out to achieve such as a hypothesis. They are then carried out to test their hypothesis to see if it's proved to be
Explain the main features of the behaviour of firms which operate in an oligopolistic market (10)
Explain the main features of the behaviour of firms which operate in an oligopolistic market (10) An oligopolistic market is one which has several main firms that dominate the market and the labour supply is concentrated around them. All firms are interdependent and the actions of one firm will directly affect another, all products are differentiated but there are close substitutes to them. Within the market there are high barriers to entry and exit and collusion may occur. A firms behaviour in an oligoplistic market is much dependant on that of the other firms. As there is no competition on price they must compete on other aspects of the marketing mix such as place and promotions, this means that firms will have to invest into Research and Development in order to improve their product and make it seem more attractive to consumers. In an oligoplistic market there are no diseconomies of scale due to the L shaped average cost curve as firms cannot compensate for them because of the kinked demand curve. Firms have to behave in this way as there is no room for price reductions as soon as one firm puts its prices down the other firms will lower their prices and this can lead to a price war. The kinked demand curve model assumes that a business might face a dual demand curve for its product based on the likely reactions of other firms in the market to a change in its price or
