Premium Essay

P5 Explain How and Why Groups of Customers Are Targeted for Selected Products.

In: Business and Management

Submitted By chrisdavidson94
Words 813
Pages 4
4a – P5 Explain how and why groups of customers are targeted for selected products.

Segment marketing is the where defining the businesses customers’ needs and wants by ordering them in particular groups that receive different care and different levels of marketing. Customers are segmented by a business can vary from business to business but generally include areas such as, sex, regional location, income, socioeconomic factors, or previous buying.
Geographic - Geographic segmentation is an important process – mainly for a multi-national and global businesses and brands. Many large businesses have regional and national marketing which change their products, advertising and promotion to meet the individual needs of geographic section

• Regions: e.g. in the UK these might be England, Scotland, Wales Northern Ireland
• Countries: perhaps sorted by size, development
• City / Town size: e.g. population within ranges
• Population mass: e.g. suburban, urban, semi-rural, and rural
• Climate: e.g. Northern, Southern Any undeveloped countries or less well-off will not want some products so now days they won’t advertise expensive products such as the new xbox 250gb slim with kinetic which is priced at £196.99 this is not a need only a want so some people will not pay a lot for this because they don’t need it.
Demographic - Demographic segmentation contains of mixing the market into groups based on variables such as sex, gender family, age, income, occupation, race, religion, and nationality. Business might expect, demographic segmentation variables are between the most popular sources for segmenting customer groups. This is mainly because customer wants are closely linked to variables such as income and age. Also, for some reason, there is often much more data available to support with the demographic segmentation development.
Apple iPad Single/Bachelor —

Similar Documents

Premium Essay

Businees

...December 2014 | Deadline Date: | 16th January 2015 | Marking Tutor: | Danielle Vipond | Internal Verifier (Brief): | Tam Baldwin | Brief Verified (Date): | | Internal Verifier (Assessment) | Tam Baldwin | Targeted Criteria: | P1 | P2 | P3 | P4 | P5 | P6 | P7 | P8 | Achieved: | | | | | | | | | | M1 | M2 | M3 | M4 | M5 | M6 | M7 | M8 | Achieved: | | | | | | | | | | D1 | D2 | D3 | D4 | D5 | D6 | D7 | D8 | Achieved: | | | | | | | | | Plagiarism: Work handed in against this brief must be the learner’s own work. Any content not generated by the learner must be appropriately referenced; otherwise it will be taken to be that of the learner submitting it. Any infringement of the College’s Plagiarism guidelines will result in the Assignment not being marked and Disciplinary proceedings initiated. Scenario: | You work for a large marketing agency that consults for a variety of businesses on the marketing activities that they undertake in order to promote their products and services. Your marketing agency has a varied portfolio of clients and you have been given a range of business tasks to complete to help maintain their business and that of their clients. | Assessment Tasks: | Number | Task | Criteria Targeted | 1. | * Following your attendance at the workshop for P3 you will be given a proforma to complete (see Moodle page). This will guide you through using marketing research to complete marketing planning. You will...

Words: 1270 - Pages: 6

Premium Essay

Market Planing

...------------------------------------------------- BTEC National Diploma in Business 2014/2015 Student Name: | Unit: 3 – Introduction To Marketing | Year Group: 12 | Tutor: Miss Chotai | Date Issued: | Submission Deadline: 27th March 2015 | Deadline Met: Yes/No | Task | Criteria to be met | Issue date(w/c) | Submission date(w/c) | Task 1 | P1, P2, M1 and D1 | 12th January 2015 | 2nd February 2015 | Task 2 | P3, P4, M2 and D2 | 16th February 2015 | 2nd March 2015 | Task 3 | P5 | 2nd March 2015 | 9th March 2015 | Task 4 | P6 and M3 | 9th March 2015 | 23rd March 2015 | Grading Criteria Met & date achieved: | | | | P1 | P2 | P3 | P4 | P5 | P6 | M1 | M2 | M3 | D1 | D2 | | | | | | | | | | | | Final Feedback to Student | Final Grade Awarded: | Fail | Pass | Merit | Distinction | I CONFIRM THAT THE ATTACHED ASSIGNMENT IS MY OWN WORK Student Signature: Date: Tutor Signature: Date: Internal Verifier: Date: INTERIM FEEDBACK RECORD Date | Comment | Target | | | | UNIT 3: Introduction to marketing ASSESSMENT CRITERIA To achieve a Pass grade the evidence...

Words: 2049 - Pages: 9

Premium Essay

Introduction to Marketing

...assignment you will need to focus on how marketing techniques are used in two different organisations. The second part of the assignment will look at how market research impacts on the marketing plan of a specific organisation. Finally, you will need to look at the development of a coherent marketing mix targeted at a defined group of potential customers. M1 D1 P1 Task 3.1 Scenario You work for a large marketing agency that consults for a variety of businesses on the marketing activities that they undertake in order to promote their products or services. Your marketing agency has a varied portfolio of clients and you have been given the task of consulting for one business that operates in the private sector and one in the public or voluntary sector. Choose your two businesses remembering that: one must be from the private sector, for example, Marks & Spencer one must be from the public or voluntary sector, for example, Oxfam. For each business, you will need to research the marketing techniques it has used in order to market one product. These techniques might include: growth strategies survival strategies branding relati onship marketing. For each business: * P1. describe the marketing techniques used to market products ( 200 words ) * M1. compare the marketing techniques used in marketing the products ( 200 words ) D1 - Now choose one of your two businesses. How effective do you think its use of techniques in marketing products has been? Justify your answer...

Words: 749 - Pages: 3

Premium Essay

Business

...(Formative feedback and grade will be given for the entire unit at this stage. You are able to upgrade this unit at this date) | 9/5/14 | 2/6/14 | Scenario/ Vocational context | You work for Marketing Mania a large marketing agency that consults for a variety of businesses on the marketing activities that they undertake in order to promote their products or services. Your marketing agency has a varied portfolio of clients and you have been given the task of consulting for two businesses, one that operates in the private sector (Jacksonville Jaguars) and one in the public or voluntary sector (Birmingham Children’s Hospital). You have been set a variety of tasks. | Learning Outcomes for Unit | LO1 Know the role of marketing in organisations | LO2 Be able to use marketing research and marketing planning | LO3 Understand how and why customer groups are targeted | LO4 Be able to develop a coherent marketing mix | Grading criteria for unit | P1 | Describe how marketing techniques are used to market products in two organisations | P2 | Describe the limitations and constraints of marketing | P3 | Describe how a selected organisation uses market research to contribute to...

Words: 1031 - Pages: 5

Premium Essay

Introduction to Marketing

...evidence can be found. | Criteria reference | To achieve the criteria the evidence must show that the learner is able to: | | Task no. | | Evidence | P5 | Explain how and why groups of customers are targeted for selected products | | 1 | | | P6 | Develop a coherent marketing mix for a newproduct or service. | | 2 | | | M3 | Develop a coherent marketing mix that is targeted at a defined group of potential customers. | | 2 | | | Learner declaration | I certify that the work submitted for this assignment is my own. I have clearly referenced any sources used in the work. I understand that false declaration is a form of malpractice.Learner signature: Date: | Assignment brief Qualification | BTEC Level 3 90 credit Diploma in Business (Business Pathway) | Unit number and title | 3 Introduction to Marketing | Assessor name | Julie Flavell | Date issued | 27.11.15 | Hand in deadline | 18.12.15 | | Assignment title | Market Segmentation | Purpose of this assignmentThe aim and purpose of this unit is to give learners an understanding of how customer groups are targeted and be able to develop a coherent marketing mix. | ScenarioThe organisation you used for your last assignment has asked you to come up with a new product for them to release, using the information below you will have...

Words: 890 - Pages: 4

Premium Essay

Sugar

...aim and purpose of this unit is to give learners an understanding of how marketing, research and planning and the marketing mix are used by all organisations. Unit introduction Marketing is at the heart of every organisation’s activity. Its importance is also growing in the non-commercial, public and voluntary sectors. Also, at the heart of marketing is the customer. This unit will introduce learners to some of the tools and techniques all types of organisations use to achieve their objectives. Firstly, learners will explore how different types of organisations use marketing principles to meet the needs of their customers and achieve their objectives. The constraints under which organisations operate are important and learners will study the legal requirements and voluntary codes that affect marketing. Learners will then go on to investigate how organisations collect data through market research and turn it into useful information which can be analysed and used to plan their marketing activities. The segmentation and targeting of groups of customers is a key marketing technique and this is studied in detail. This includes the different bases for segmentation of both consumer and business markets. Next, learners will examine how a marketing mix is developed to meet the needs and aspirations of a targeted group of prospective customers, before going on to develop a marketing mix for a new product or service. The unit gives a brief overview of the principles of marketing...

Words: 4051 - Pages: 17

Premium Essay

Miss

...[pic] WATERFRONT QUARTER, HUDDERSFIELD DEWSBURY CENTRE, DEWSBURY |Assignment title |Task 1 – The Role of Marketing | | | |Assessor |Jo Holmes | | | |Date issued |15th September 2014 | |Interim Deadline | |Final deadline |2nd November 2014 | |Duration (approx) | | | | |Qualification suite |BTEC Level 3 BTEC National Diploma in Business | |covered | ...

Words: 1701 - Pages: 7

Premium Essay

P5 Everything

...P5. Explain how and why groups of customers are targeted for selected products. In this unit, I’m going to explain how and why groups of customers are targeted for selected products. The main reason why organisations target a particular group of customers is to make profit, but there are a lot of other reasons why organisations choose to target customers. I’m going to describe Nike targeted customers and I’m also going to explain why and how they target customers. Nike is a very big organisation; therefore it will have a large target audience. Nike specialises in sports wear such as trainers, tracksuits, bags etc. Nike produces football boots; they can choose to target customers, consumers and businesses. For example, Nike can make football boots for kids aged between 10-15years, so although the products were made for the kids, their target audience will mainly be the parents, because they know kids might not be able to afford the product. In this situation, the parents are the customers and the kids are the consumers, because they are the actual ones using the product. Their target audience for the football boots can also be sports men and women, in this situation the sports men and women are the customers and consumers, because they are the actual ones purchasing the product and using it. Nike targets businesses as well with their football boots, other businesses such as JD and sports direct may choose to buy football boots from Nike, in order to sell to their...

Words: 2129 - Pages: 9

Premium Essay

Business

...mix P5- Explain how and why groups of customers are targeted for selected products Market segmentation is the process of defining and selecting a specific market to sell your product or service to. The market can be segmented through four bases which varies the circumstances which defines the consumer market. Firstly Geographic segmentation, this is segmentation decided through the consumer’s country, city and region. Demographic segmentation which is the common deciding factors of the general public, this includes age, gender, profession etc. Psychographic segmentation combination of the consumer’s social attitudes, his includes their attitude, opinions, morality towards the product or service. This is a key factor in any market segmentation. Lastly there is behavioural segmentation. This is segmentation of the market through the consumer’s relationship with the product/service. This is the consumers brand loyalty and how much they use the product/service. Overall the market is segmented through these four bases. B2C Marketing- Business to consumer marketing is a business that sells products or provides services to end-user consumers. B2B marketing is marketing of products to businesses for production of goods, for use in general business operations. Or for resale to other consumers, such as a wholesaler selling to a retailer. High income males | | Mercedes C class coupe Is targeted at high income males due to the high quality and price of the premium product. Also...

Words: 1288 - Pages: 6

Premium Essay

Business Management

...P1: Describe how marketing techniques are used to market products in two organisations.         In this unit I am going to pick two organisations and describe how marketing techniques are  used to market products in these two organisations. The first organisation I am going to  choose is Nike. Nike is an American multinational corporation that is involved in the design,  development and worldwide marketing and selling of sporting equipments such as running  shoes, tracksuits etc. Nike also sells accessories and unique footwear that attracts the eyes  of so many people including celebrities. Nike has used various marketing techniques to get  to the stage it’s at today and I am going to be describing what techniques it has used. My  second organisation is apple. Apple is a Multinational Corporation that is known for the sales  and design of computer electronics, computer software and personal computers. In recent  years, apple came out with products such as I pads, I phones etc. These products became  very popular in a short period of time thus giving apple an upper hand over its competitors.         Marketing technique is the overall marketing plan that is designed to meet the needs and  wants of customers. There are four main marketing techniques which are: Market  penetration, market development, product development and Diversification.         Market penetration: This is an activity that an organisation takes in order to increase the  market share of an existing product or promoting a new product...

Words: 7457 - Pages: 30

Premium Essay

Intro to Marketing

...Unit 2: INTRODUCTION TO MARKETING P1: Describe how marketing techniques are used to market products in two organisations IE Thanks to Igor Ansoff studies, today we can identify four different marketing strategies available for growing a business: MARKET PENETRATION, MARKET DEVELOPMENT, PRODUCT DEVELOPMENT and DIVERSIFICATION. MARKET PENETRATION: A market is a group of customers who may purchase a product. MARKET DEVELOPMENT: This is when a company markets an existing product to a new market. PRODUCT DEVELOPMENT: This is where a business develops a new product to sell to existing customers. DIVERSIFICATION: This is where a business markets new products to new customers. This can works in two ways: the business may produce a new product in an area that it understands, or it may enter a completely new unrelated area. Many businesses are often faced with having to develop strategies just to survive. This could include downsizing the business to reduce costs. It could mean coming out of less profitable markets, discounting less profitable lines and making some employees redundant in order to balance the books. Amazon is a ecommerce company born in 1994. Jeff Bezos created Amazon.com, Inc. in 1994 , which he labeled as “Earth’s Biggest Bookstore.” The ecommerce company went online in 1995 and soon expanded into other media, including DVDs, VHS, CDs, MP3s, and eventually a wide range of other products, including toys, electronics, furniture and apparel. As such, the tagline...

Words: 3637 - Pages: 15

Premium Essay

Kkkkkkkkkkkkk

...Re-submission date | 20/05/15 | | Targeted Criteria Within This Assignment | Criteria | | | | | | | | | | | | | | Task No. | | | | | | | | | | | | | | Met | | | | | | | | | | | | | | | | | | | | | | | | | | | | Learner declarationI certify that the evidence submitted for this assignment is my own. I have clearly referenced any sources used in the work. I understand that false declaration is a form of malpractice.Learner signature: Isabel Tomas Date: 20/05/15 | Contents Page * Introduction/ Identifying customers in consumer markets – Page 3 * Market segmentation – Pages 3 - 4 * Geo-demographic systems – Pages 4 – 5 * Reason for choice of target groups – Pages 5 - 6 * How are business groups segmented? – Pages 6 – 8 * Tesco market segmentation – Page 8 * Conclusion – Page 9 * Bibliography – Page 9 P5 This report will build up from previous assignments and it will be focusing on the different target groups and segmentations of Tesco. The report will first identify customers in consumer markets and it will explain what market segmentation is; it will include the bases for segmentation of consumer markets such as geographic, demographic, and psychographic and lifestyle, furthermore it will explain the uses of geo-demographic systems to identify and reach to target groups for...

Words: 4337 - Pages: 18

Premium Essay

Business Level 3

...HELP SHEET 2.11 P1: Describe the recruitment documentation used in a selected organization The desired organisation we shall see regarding this matter is a famous departmental store in bangladesh. Agora is a renouned departmental store which is owned by Rahimafrooz Ltd. Agora founded in 1954 by Late A. C. Abdur Rahim. If agora decides on hiring employees for their many deparmental stores situated accross the whole of bangladesh they have to initially advertise this vacancy. There can be a number of ways to advertise this vacancy, out of the many a few may be via newspaper, posters, website, web adverts and existing employees. Hypothetically if we say the vacancy is for a cashier, in that case the recruitment process would be a lot quicker with a healthy number of curriculum vitae (cv) to choose from. The advert should state the job description and should specify the duties the position holds. It should also state the educational qualification and skills they require in the applicant. After the vacancy has been advertised, interested applicants will send their cv to the given address which will state their name, educational qualification, work experience, career objective and expectation, personal skills, a personal statement etc. on approval of the cv’s the preferred candidates will be notified by the employer for a interview. This is the part were the employer gets to meet up the candidates face to face and have a conversation with them and choose the best fitting...

Words: 10202 - Pages: 41

Premium Essay

Activity-Based Costing

...INTRODUCTION TO COST MANAGEMENT Activity-Based Costing and Management After studying this chapter, you should be able to . . . 1. Explain the strategic role of activity-based costing 2. Describe activity-based costing (ABC), the steps in developing an ABC system, and the benefits and limitations of an ABC system 3. Determine product costs under both the volume-based method and the activity-based method and contrast the two 4. Explain activity-based management (ABM) PART I 5. Describe how ABC/M is used in manufacturing companies, service companies, and governmental organizations 6. Use an activity-based approach to analyze customer profitability 7. Identify key factors for successful ABC/M implementation Beware of little expenses. A small leak will sink a great ship. Benjamin Franklin This chapter has a lot to do with implementing the spirit of Benjamin Franklin’s observation—in cost management terms—that it really does matter how accurately you calculate a cost. Why? Having accurate costs is important for a variety of reasons: a company might find that it has a difficult time determining which of its products is most profitable. Alternatively, it finds its sales increasing but profits declining and cannot understand why. Perhaps the company keeps losing competitive bids for products and services and does not understand why. In many cases, accurate cost information is the answer to these questions. Accurate cost information provides a competitive advantage...

Words: 26360 - Pages: 106

Premium Essay

Abc System

.... 1. Explain the strategic role of activity-based costing 2. Describe activity-based costing (ABC), the steps in developing an ABC system, and the benefits and limitations of an ABC system 3. Determine product costs under both the volume-based method and the activity-based method and contrast the two 4. Explain activity-based management (ABM) 5. Describe how ABC/M is used in manufacturing companies, service companies, and governmental organizations 6. Use an activity-based approach to analyze customer profitability 7. Identify key factors for successful ABC/M implementation PART I Beware of little expenses. A small leak will sink a great ship. Benjamin Franklin This chapter has a lot to do with implementing the spirit of Benjamin Franklin’s observation—in cost management terms—that it really does matter how accurately you calculate a cost. Why? Having accurate costs is important for a variety of reasons: a company might find that it has a difficult time determining which of its products is most profitable. Alternatively, it finds its sales increasing but profits declining and cannot understand why. Perhaps the company keeps losing competitive bids for products and services and does not understand why. In many cases, accurate cost information is the answer to these questions. Accurate cost information provides a competitive advantage. It helps a company or organization to develop and to execute its strategy by providing accurate information about the cost of its products and services...

Words: 26371 - Pages: 106