...Market segmentation is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. Marketing segmentation has dividing a market into smaller group distinct needs, characteristic or behavior those might require separate products or marketing mixes. The purpose of market segmentation is to increase marketing efficiency by focusing marketing efforts to a particular group, maximize scarce marketing resources, find a market with limited competition and select the most profitable segment. It has four major market segmentation variables, there are geographic, demographic, psychographic and behavioral. Geographic segmentation tries to divide the market into different geographical units such as location, regions, population density, climate and countries. Demographic segmentation consists of dividing the market into groups based on variables such as gender, family size, family life cycle, income, occupation, education, religion, race and nationality. Psychographic segmentation divides buyers into different groups based on social class, lifestyle or personality characteristics. Behavioral segmentation divides buyers into groups based on their knowledge, attitudes, response to a product. There are four consumer and industrial product that we are going to discuss about their market segmentation, which are McDonald, Hugo Boss perfume, Mobil Nokia and magazine of National Geographic. Fast food: McDonalds Geographic segmentation ...
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...Accounting 3230 Fall 2014 Part I: Leonard Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years 20X2 and 20X3. | 20X2 | 20X3 | Projected benefit obligation, January 1 | $ 600,000 | | Plan Assets(fair value and market-related value), January 1 | 410,000 | | Pension Asset/Liability, January 1 | 190,000 CR. | | Prior Service Cost, January 1 | 160,000 | | Service cost | 40,000 | $ 59,000 | Settlement rate | 10% | 10% | Expected rate of return | 10% | 10% | Actual return on plan assets | 36,000 | 61,000 | Amortization of prior service cost | 70,000 | 50,000 | Annual Contributions | 97,000 | 81,000 | Benefits paid to retirees | 31,500 | 54,000 | Increase in projected benefit obligation due to changes in actuarial assumptions | 87,000 | 0 | Accumulated benefit obligation at December 31 | 721,800 | 789,000 | Average service life of all employees | | 20 years | Vested benefit obligation at December 31 | | 464,000 | (a) Prepare a pension worksheet presenting both years 20X2 and 20X3 and accompanying computations and amortization of the loss (20X3) using the corridor approach. (b) Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year. (c) For 20X3, indicate the pension amounts reported in the financial statements. Part II: The accounting records of Scotty inc show the following data for 20X2....
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...single customer or at a same market. The customers are many and they all are diverse according to their demand and buying requirements. This is why, each company needs to identify its market segmentation, market segmentation procedure, pattern of segmentation, basis of segmenting consumers and business market. Many companies use to be target oriented and they develop a target-marketing. They first identify their segments, and then set targets for each segment. After this, they manufacture their products according to their targeted market . Target marketing requires marketers to take three major steps: Identify and profile distinct groups of buyers who might require separate products or market mixes which is known as “market segmentation.”Select one or more market segments to enter which is known as “market targeting.”Establish and communicate the product’s key distinctive benefits in the market which is known as “market positioning.”In my research, I have taken Toyota at my company to apply all the Maktering Principles and to know about the market segmentation, market targeting and market positioning done by this company. In this paper, I will discuss how important is marketing strategy and segmentation for a successful company, like Toyota, to achieve what it wants. Toyota’s segmentation and target market are based upon the philosophy it believes and that is, “Right Car in the Right Place” and also for the right person. Toyota using, not only Demographic...
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...5 Marketing Objective To build a brand image as the most stylish, creative yet affordable timepiece To lead the market as a global brand To increase its brand awareness as the most innovative watch of its time 6 Market Segmentation Market segmentation is the process of dividing a market into distinct groups of buyers with similar requirements. Goods can no longer be produced or sold without considering and understanding customer requirements and recognizing the heterogeneity of those needs.(Michel Wedel 2000). Steps involved in market segmentation, targeting market and market positioning are as follows; 6.1 Segmentation in the B2C Market Socio-demographic, behaviouristic, and psychographic variables are used to identify the market segment. 6.2 Socio-demographic Variables This divides the group into age, sex, gender, geography, family life cycle, income, education, events, religion and social class. Swatch product line is for both men and women between the age of 15-19, 20-24 and 25-34 who belongs to and income group varying from £12000 to £45000. It could be students, professional, homemakers and set of stylish people who like a creative and innovative approach. Figures from Kidd 2007 suggest that the group from 24-35 have the highest spending power in the market. And also women in UK are increasingly purchasing watches for them selves and for their partners. 6.3 Behaviouristic Variables These variables reflect the behaviour of the customer towards a specific product...
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...Market Segmentation Of Apple Iphone 4s Marketing Essay In this report, it aims to analyze and evaluate the market segmentation of Apple iPhone 4S. First of all, based on the theory of means end chain, the product is analyzed through product attributes, consequences of use and personal values. Special features of the product lead to the consequence of use, which finally stand for the value of the product. Besides, consumer markets are segmented according to different groups. Therefore, in this report, based on the analysis of four different categories including demographic, psychographic, use-related and benefit sought, it states consumers have different characteristics in terms of different items in each category, and then it identifies three groups of iPhone 4S consumers, including the primary targets of iPhone 4S are people who are loyalty to this brand with some knowledge of it, another two big groups are people who are interested in new high tech phones and people who are chasing social acceptance. It indicates that groups with special features share the same choices when they are making the purchase decisions. Furthermore, based on two reference groups, friends who are using the same products and other people who are interested in discovering applications in smart phones and give comments on the products, this report shows that purchasing decision from reference groups may have very important influence to target customers’ decision-making process. This report has given five...
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...UKEssays MARKETING The marketing essay below has been submitted to us by a student in order to help you with your studies. Back to Marketing Index UKEssays / Essays / Marketing / The Analysis Of Food Processing Industry Marketing Essay Print Download Reference This Reddit This Essay writing open in browser PRO version Are you a developer? Try out the HTML to PDF API pdfcrowd.com Share Tweet Essay writing Dissertation writing Assignment writing Marking & Proofreading All services Place an Order Get a Quote About UK Essays Fair use policy Essay help Referencing guides All free resources The Analysis Of Food Processing Industry Marketing Essay 1.0 Introduction A strategic management process like strategy analysis, strategy formulation, and strategy implementation are important for an organization. (Anthony H,2008) 2.0 Strategy Analysis Macro-environment can act as an analysis which provide early warning system for organizations to anticipate threats, opportunities, and develop appropriate responses (Ginter and Duncan,1990) in the discerning trends in general environment which may impact upon its industry and markets. Strategy analysis can make organization to focus on factors and conditions which influence a firm's profitability within an industry and focus on predicting the dynamics of competitor's actions, responses and intentions. (Anthony H,2008) This tool of analysis will discuss about PEST framework, Porter's Five forces...
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...This essay will illustrate the extent to which effective marketing must incorporate Segmentation, Targeting and Positioning. Segmentation, targeting and positioning is a three stage process. Segmentation describes what kinds of customers exist, targeting describe target market which is best to serve and positioning which describe segmentation by categorizing the products or services for that segment. Segmentation is “the process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.” Segmentation try to find out what kinds of different consumers with different needs exist. Segmentation depend on? Gender Age Social class Personal Disposable Income Family life cycle Employment status Marital status / living arrangements and many more. Segmenting consumer markets - Geographic -Demographic -Psychographic -Behavioural There are different kinds of variable which are used for segmentation: -Demographic – to this belong: gender, income, education, location, and family size, ethnic. -Behaviour – some customers are “brand loyal”- customers stay with the brand they are stick to. Some consumers are “heavy” users while other are “light” users. Targeting evaluate the attractiveness of each segment. Defending a target market requires...
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...The concept and process of marketing The marketing concept is the viewpoint that trades should find out what the customers want and then make decisions to achieve those wants, better than the rivalry. Today most trades adopted the marketing concept, but this has not always been the situation. The process of doing so can be demonstrate in a sequence of stage: the situation is examined to categorise opportunities, the plan is expressed for a value scheme, planned decisions are mode, the strategy is implemented and the results are examined. http://us.123rf.com/400wm/400/400/dskdesign/dskdesign1207/dskdesign120700077/14652330-marketing-process-concept--segmentation--targeting--positioning--approaching.jpg Explanation of the various elements of the marketing process. Step 1 – swot analysis Step 2 – segmentation, targeting, positioning Step 3 – marketing mix Step 4 – implementation – go out there and sell your product no time to Step 5 – control Swot analysis An important part of the planning process is observing at the present position of the business and trying to choose how factors outside of the business might affect the business. Business do a SWOT examination as a way of determining which marketing strategy to use. The business does a review on the interior and exterior nature of the business looking at the current and upcoming condition. An audit is a review of all the business’ doings. Example of a business swot analysis KFC...
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...The approach taken in solving Marketing assignment and Marketing homework is to lucidly explain the concepts involved as well as how to apply these to practical problems. HwA’s expertise in MarketingManagement Assignment solving spans various streams such as 5 C's of marketing - company, collaborators, customers, competitors, and climate Market Segmentation Target Market Selection Market Analysis – involving market sizing, drivers, restraints, trends, distribution channel, etc. 4P’s of Marketing Brand Equity Pricing Strategy Product life cycle Business Marketing Customer Lifetime Value Customer Relationship Management Marketing Orientation Integrated marketing communication Our highly qualified, professional and skilled team members can provide you help with complex marketing case study, report writing, essay writing, research paper, term paper, dissertation involving multiple disciplines and concepts, research proposal writing, presentation in areas like brand equity, marketing mix, etc. The HWA team has highly qualified tutors with many years of industry experience. The team has helped a number of students pursuing education through regular and online universities, institutes or online MBA, MA, or BA Programs. What is Marketing Management? Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. Marketing is a business function which deals...
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...TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory JoinSearchBrowseSaved Papers Home Page » Business and Management Case - the Swatch Group In: Business and Management Case - the Swatch Group The Swatch Group Case Resolution Team 4: Key Information • There are a series brands aimed at different market segments at low, medium, high and luxury. • Market share in Europe and China over a third of it and competing in every segment in which Swatch Group with its brands. • Distribution via retail channels and own stores. • Investment and development in new technology. • Successful plan of positioning their products as generators of emotions. • Rolex and other competing brands are perceived and maintain better image in the market, which makes them a very strong and complex competitors. Problems or Challenges • Develop a successful and effective strategy that improves positioning the Group to raise the prestige of their brand (Omega) and their profitability. • Prevent the problem that existing customers would not be willing to pay more if prices raise. • If the brand replaces Rolex as a symbol of luxury in a mass market, avoid existing customers react adversely, as well as make that new customers receive the message of the brand value. Solution • Maximize our product strategy focused in "Generate emotions" in the advertising of the brand. • Win market share to Rolex as a luxury and exclusiveness brand...
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...Brand and Business Overview of Omega Watch Makers There are many ways to attract consumers to purchase products, for example, price, advertising, word of mouth, branding, etc. However, before attracting customers to consume, the important things that companies have to achieve are finding the right purchasers, aiming at the correct market and using precise strategies and methods to analyze and promote their products. The market nowadays is not homogenous but diversified. Competition is also not just within a country but global due to rapid and easy transfer of information. In order to compete with various competitors and match what customers demand, companies should pay more attention to their strategies for marketing. From marketing text books, we can find plenty of strategies and methods to help companies to distinguish their target market, for example macro and micro environment analysis, SWOT analysis, marketing mix and STP strategy, etc. Enterprises will benefit from using these theories and increase market share or profit. In the following research, the marketing strategies and features will be outlined and identified with regards to the brand OMEGA in the Swatch Group, which is one of the best-known brands in the watch industry. Brand Overview OMEGA is one of the brands of the Swatch Group which is a well-known manufacturer in the watch market. There are 19 watch brands in the group, and each brand has different price categories in order to fit with different segments...
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...10/14/2013 EXECUTIVE SUMMARY: The company which is taken into consideration is Ford Motors which is an American multinational company. The study is about the company’s background, size, competitors, product life cycle, swot analysis, customer’s traits and the company’s positioning CONTENTS: 1. An Executive Summary..............................................................................2 2. Company & product background..................................................................2 3. Market analysis: Size, Competitors and Product Life .....................................4 4. SWOT Analysis...........................................................................................6 5. Customer traits and Segmentation ................................................................7 6. Positioning Strategy.....................................................................................7 7. Conclusion..................................................................................................7 8. References..................................................................................................8 COMPANY AND PRODUCT BACKGROUND: Ford Motors is an automobile company and is ranked as the third largest company in this sector. The history of the company dates back to 1903, and was found by Henry Ford (Douglas G. 2003). Today, the company has established itself in many countries and had a market share of US$ 134.25 billion...
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...Introduction Jetstar Airlines was established by Australian company named Qantas in 2003 as a low-cost domestic carrier. Jetstar carried its first domestic passengers in 2004, and commenced its international services to New Zealand in 2005. The flight of Jetstar’s airline enter into the Asian region such as Hong Kong, Singapore, Japan and Vietnam. The Jetstar value based carriers providing all day every day low fares across Australia, New Zealand and the Asia Pacific region. This essay will discuss how Jetstar’s position its product in the market. Market Segmentation Market segmentation is the process of dividing a market up into different groups of customers, in order to create different products to meet their specific needs. The most obvious type of segmentation is between customers who buy distinctly different products (Robert D, 2009). From the segmentation Jetstar airline company can ensure that all customer expectation are met. Low-cost airline market segmentation : | Segmentation Variables | A | B | C | D | Geographic | Country | New Zealand, Asia, Australia | New Zealand, Asia, Australia | New Zealand, Asia, Australia | New Zealand, Asia, Australia | Demographic | AgeIncomeEducationOccupation | 11-20 yearsPocket moneyHigh school- collegestudents | 21-39 yearsLow- HighGraduated- | 40-54 yearsMedium-High-Businesses | >55 yearsRetire fund-Retired | Psychographic | Personality | AdventurousCoolDynamic | AmbitiousQuickVersatileWise | OrganizedDominant |...
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...(Dailymail, 2014). Mintel predicts that the market share of energy drinks will likely see a sturdy development from a mere 78% in 2014 to around 85% by the end of this decade. Red bull is stated to be one of the leading energy drink producers in the world (Mourdoukoutas, 2014). The company states to have 9694 employees in around 166 countries worldwide with a total sale of 5.3 billion cans just alone in 2013 (RedBull, 2014). Moreover, the brand stated to “give you wings” is identified to be one of the most successful energy drink companies in the world (Mourdoukoutas, 2014). Furthermore, the success of Red Bull brand led to the creation of an entirely new category of the energy drink in the food and beverage market of the world. This essay will look to critically analyse the strategies used by Red Bull and argue to what extent the differentiation strategy has aided the company in gaining competitive advantage. Furthermore, it will examine the company’s environment will also look to explore the positioning of the brand in the market. Additionally, it will analyse its route to gaining competitive advantage. Finally, it will assess how successful the company has been in implementing their strategies. Kotler (1984) cited in Gilbert and Kapur (1990) defines strategic marketing as the process through which a company can look to establish and manage an applicable accord between the environmental opportunities, resources and the objectives of the organisation...
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...What makes the Samsung brand successful? Marketing has been defined by The Chartered Institute of Marketing (2001) as …“the management process responsible for identifying, anticipating, and satisfying customer requirements profitably”… This essay will focus on the technology sector and attempt to uncover what makes the Samsung brand successful. Using key marketing theories of branding concept, brand equity and brand positioning in a logical order it will critically evaluate these concepts in the context of the chosen brand. Supporting academic theories, relevant brand examples and critical evaluation will be offered throughout each of the theories explored. In conclusion, a summary of these theories will be discussed in relation to the success of the brand. Founded in Suwon , Korea in 1969, Samsung electronics has arguably grown to become one of the most successful companies of modern times. In 1993 chairman Lee Kun Hee laid out his vision for the future and what the company had to do to achieve success. It was to become a global leader in consumer electronics by focusing on creating high quality premium products. By 2012 Samsung had established itself as the world’s largest information technology company for revenues standing at $200 billion with 236,000 employees in 79 countries. It currently holds No.1 global market share for 13 of its products. Its marketing spend for 2012 was $4 billion - 4 times that of its nearest competitor, Apple. Branding is used by companies...
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