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Mmgp Market Analysis

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Analyzing the Consumer Market When it comes to purchasing a service/product, consumers are influenced by three factors cultural, social, and personal Factors. Let us take a look into personal factors. Personal characteristics that influence a buyer’s decision include age and stage in life cycle, occupation and economic circumstances, personality and self-concept, and lifestyle and values (Kotler & Keller, 2012, p.155). Many of the factors listed above have a direct impact on consumer behavior. One personal factor that might influence a consumer before purchasing Subway is lifestyle and values. Lifestyles are shaped partly by whether consumers are money constrained or time constrained (Kotler & Keller, 2012, p.158). Consumers stop into Subway and purchase $5 sandwiches, which are both healthy and delicious, after working many hours at their job. Not only does the consumer get a fast healthy meal, but that also pay a reasonable price. Age and stage in the life cycle is another personal factor that might influence a consumer before purchasing Subway. What a consumer likes to eat can be closely related to their age. Consumption is also shaped by the family life cycle and the number, age, and gender of people in the household at any point in time (Kotler & Keller, 2012, p.155). A significant shift in eating patterns is under way among the millennials, those 18 to 30. In 2012, Subway reported sales in the Unites States of $12.1 billion, compared with $11.4 billion in 2011. Subway pointed to some strategies the company used to appeal to millennials. These included offering an avocado add-on when the fruit was in season, or its Smokehouse BBQ Chicken sub that only has 380 calories (Strom, 2013).
Market Segments A market segment consists of a group of customers who share a similar set of needs and wants (Kotler & Keller, 2012, p.214). Full market coverage,

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