B324 TMA
Question 1- Part A
To evaluate the change happening in the marketing in terms of stages of change theory, let me begin by explaining what (stages of change theory) means. Proncheska and DeClemente suggest that, we as human beings do not just move casually through new behaviors, instead, we go through 5 different stages in order to commit to a new behavior. The stages of change theory suggest that at the first stage we are aware of the new behavior that exists but we are not interested at this point of time. We then start evaluating the relevance of this behavior to ourselves. After evaluating the relevance, we start acting and preparing a way to try out this new behavior. We take and action and try it, then finally we commit.
The
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Some of us like the same things, some of us don’t agree with us. Here becomes the diversity part. In order for any marketer to satisfy all the needs of the clients, they go through a detailed and studied criteria’s in order to reach everyone in the market. Marketers start to divide people according to different things, for example, their age, interests, hobbies, and this is called Market Segmentation. We will discuss this in details below.
There are 3 commonly used segmentation criteria that social marketers use to divide their clients. Firstly let me define what market segmentation means. ‘Market segmentation is the process of dividing the market into groups of consumers who respond in a similar way to a given of marketing stimuli.’ (Gerard Hastings – Social Marketing – Why should the devil have all the best tunes).
The first criterion is the Personal Characteristics, this criteria is concerned with the demographic, psychographic and geo-demographic variables. These variables have a great effect on the
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It is not only efficient and effective, however, for some people it is the only option.
5) It reflects the complexity of our task
Moving upstream reflects the complexity of the agenda of the social marketer, it also shows that its not either we move up or down stream, it shows everything in between. Social marketers need action in all sections of the stream, as if they only focus exclusively upstream they could reduce people to the status of passive recipients.
6) Not to do so is unethical
Finally, moving upstream has an ethical view as it raises concerns about freedom of choice. Blaming individuals on their behavior while ignoring all the factors that may have affected the way they behave is not really ethical. Social marketer should be aware and take into consideration all the factors affecting individuals to become who they are or do what they do.
After mentioning all the above reasons of how important it is to move upstream, we come to a great conclusion, communicating between the marketers and the clients is a key factor for building a relationship, it creates a bond and a brand loyalty. The more the marketers with their clients, the more of a bond it
The segmentation process allows Company X to understand the changing needs of each demographic. Emerging opportunities can be easily identified in potential markets. To address retail customers within different industries accordingly Company X must develop an effective demographic segmentation strategy. The customer segments of Company X will be a diversified group. The groups are broken down into two main categories which are individuals and businesses.
Answer: (a): Market segmentation is the first step in defining and selecting a target market to pursue and penetrate. Basically, market segmentation is the process of splitting up an overall market into two or more groups/classes of consumers. Each group of consumers is called as a market segment. Each group (or market segment) should be similar in terms of certain characteristics or product/ service needs. In business world, market segmentation is considered to be a most important tool in enabling marketers to better meet customer needs and requirements.
Abstract The strategic change cycle is one of the processes within strategic planning. This cycle is a ten-step process created to assist organizations in meeting their mandates, satisfying their missions, and constructing public value. “Strategic planning is intended to enhance an organization’s ability to think, act, and learn strategically” (Bryson & Alston, 2011). Introduction Strategic planning is “a deliberate, disciplined effort to produce fundamental decisions and actions that shape and guide what an organization (or other Entity) is, what it does, and why it does it” (Bryson & Alston, 2011).
Marketing strategy Customers Youth, families, tourists, older customers and the middle working class Product life cycle. According to Kotler, P. & Gary, A. (2011), the product life cycle has five stages namely product development, introduction, growth, maturity and decline stage. The stages are determined by the market share of the product.
Common definition market, which means economic that’s approach customers in terms of people to find a goods or services they want, while segmentation is processes dividing specific part into many parts of some things. Market segmentation is mean an organization target its product, services, or ideas only to specific groups of consumers rather than to everybody, even if it means that other consumers who don’t belong to this target market aren’t attracted to it, for example is ASIMO might be suitable for housewife to do household works. Honda company has been targeted three major part of market segmentation that is include demographic, behavioral, and psychographic segmentation. Demographic segmentation is based on age, income, family size and socio- economic status, etc.
Segmentation, Targeting and positioning, also known as STP are an essential part in marketing today. This model is important for generating marketing communication strategies and it aids the marketers to prioritize schemes and deliver personalized and pertinent messages to diverse audiences. This approach is audience oriented rather than product focused in terms of communication, which results in conveying appropriate messages to the members who are more commercially appealing. Segmentation benefits the managers in finding out the area on which they have to concentrate on in terms of geography, demographics, social factors or behaviors.
Purpose and process of market segmentation The purpose of segmentation is to allow the marketer to be better able to reach the consumer needs and wants which increases the positive responses for the brand. Segmentation is important during the promotion process, this is where the team decided who what and where as well as, age gender and things like buying patterns. Because of this, marketing g segmentation comes before targeting. By dividing the audience, it makes it easier to target exactly who and where to send the devices or what to do with their next model.
BE201 TMA Draft Karim Mahmoud Ghweil Question 1: A. Market segmentation is the process strategy of dividing a product or service for the general or specific groups based on their preferences, style, perceptions, needs, and interests. As Marks & Spencer already segmented its customers in some ways. It used demographic segmentation in which it targeted people with the age of 30 and above and also with relatively good or high income. But why M&S used market segmentation in the first place and how is it beneficial?
Market are segmented in order to make it easier for businesses to target these segments according to the features and habits they exhibit. These segments must be definable, specific, profitable, and is has room to grow. The following outlines the segmentation for the market of Mercedes Benz broken down into demographic, behavioral and psychographic segmentation. Demographic Segmentation: Markets can be segmented by geography where the business would market its offering towards individuals living in a certain area.
Introduction BMW (Bayerische Motoren Werke AG) is a German automobile company which was founded in 1916 and is headquartered in Munich, Bavaria, Germany. BMW is now one of the largest car manufacturer in the world for its exceptional level of quality and producing cars with sporty driving characteristics. The BMW company 's slogan in English is "The Ultimate Driving Machine" or Sheer Driving Pleasure" which was originally translated from German slogan which is "Fraud am Fahren.” In addition to cars and motorcycle, BMW also operates an aircraft engine under the brand name which is known as Rolls Royce.
Change is inevitable in education as in all areas . Shifting perspectives within education and efforts of reform within it can be considered as educational change . The process of adapting or becoming used to the new ideas and meeting the needs of educational change require considerable efforts. This educational change can be a threat, opportunity, problem or neutral depending on our viewpoint.
According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.
The process of market segmentation involves the division of a market into groups of smaller size whose needs, behaviour and characteristics are distinct from each other. These smaller groups or 'segments ' may require separate marketing strategies. There are four major market segmentation variables namely behavioural, psychographic, geographic and
1. MARKAT SEGMENTATION Market segmentation is a strategy that is generally used by a company to identify and define the target customers, and provide the supporting data for the marketing plan elements. There are five types of market segmentation which are demographic segmentation, geographic segmentation, psychographic segmentation, benefits segmentation and volume segmentation. • Demographic Segmentation Demographic segmentation is market segmentation according to age, family size, religion, race, gender, income and education. By using this segmentation, a company can categorize the needs of consumers more easily and target its consumers more accurately because demographics can segmented into several markets.
While consumers can contact the companies at any time through their official websites, thanks to social media, companies are now able to contact the consumers at any time. This opportunity for communication can be advantageous for both consumers and marketers; for instance, consumers can announce their demands and grievances or marketers can get consumers’ opinions about their new products before their release into the