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Gcu Wow

In: Business and Management

Submitted By buckeyes
Words 334
Pages 2
Identify and describe 3 or more distinct market segments within a specific industry, such as aerospace or automobile manufacturing. What differences are apparent? Why would this matter to a marketer?
There are many approaches the automobile manufacturing companys take to consideration. I picked this because I am looking at buying a new car and while making small talk with the saleman I asked him this question. I got a lot of usefull information that relates to this question. There are many ways that a segment can be considered. For example, the auto market could be broke down or segmented into : driver age, engine size, model type, cost, and so on. However the more general bases include: By geography - such as where in the world was the product bought. Example America or Foreign By psychographics - such as lifestyle or beliefs. Example Cadilac or Hummer high class people. By socio-cultural factors - such as class. By demography - such as age, sex, and so on. A example of demography would be mini vans for family soccer moms type. Trucks for the working guy. A company will evaluate each segment based upon potential business success.Opportunities will depend upon factors such as: the potential growth of the segment the state of competitive rivalry within the segment how much profit the segment will deliverhow big the segment is how the segment fits with the current direction of the companyand its vision. I also researched hotels and seen that there is a similarity with cars and hotels. Hotels are built to a specific price range like how you have your five star hotles and so forth. Cars are done the same way you have your affordable ones say a Nissian Versa a one star hotel then you have your Cadilac Escalade your Hilton or what ever a expesive hotel is. From what I read in the text I think this is what you were aiming for if I am wrong I will redo which is why I submitted early.

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