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. As Fitbit brand is largely fitness tracking, Fitbit segmentation is easy.
By doing this company can easily increase their sales and growth. 7. “New competitive arenas”: Companies can fit in in different vertical to exploit some opportunities available in different sectors. And it’s also benefits to company because company also can use their skills. Zealong also can adept this strategies so company can increase their growth.
American Airlines has a few strengths that puts the company above their competitors. Good hubs, loyalty programs, strong brand image, the largest airline fleet, good maintenance and infrastructure standard, are just to name a few. The regions dominant U.S. carrier came along with the company’s innovative mind to buy routes that encourages spreading hubs in the most tourist attracted places. Hubs increase rewards become broader redeeming meaningful awards as you fly across the globe with American. American Airlines AAdvantage program awards miles and Elite Qualifying Dollars for every airline affiliated with the oneworld alliance.
The competition between businesses will ensure better quality of their goods and service they provide. Competition is well known for providing great productivity which leaders to a growth in the economy. Not only can competition improve the quality of work, it can also improve innovation. Innovation is an important quality to have in a company because it aids in keeping products and services fresh. “Economic Influence on Marketing” claims, “To keep current, your business has to adapt to changes in the industry and must always keep its eye out for innovative, cutting-edge technology and product improvements” (Bradley).
These resources can be for example the public, legislation, insurance companies, trade unions, economic and commercial stakeholders Hughes and Ferrett, (2009). External factors are sometimes known to be what cause businesses and organisation to make mistakes or to behavior accordingly because everyone is watching their every move and step This too can create gaps and pressure for oganisations and businesses which may affect its safety culture. There are two main outcome of safety culture factors the can influences and impact a organisation or business. These two outcome are positive impact or negative impact, which shapes the way a company manage its resources or its downfall. It's safe to say that each organisation safety culture will differ in terms of attitude, behaviour or productivity, this too often depends on the structure of the organisation and it targets Hofstede and Gert Jan Hofstede, (2012) This paper will explore safety culture as management human error(internal) and legislation (external) that influence organisations or businesses way of doing things.
Strengths are the features of the business and internal capabilities that allow the company to operate more effectively than their competitors and help to reach its objectives , such : distinct product quality , marketing expertise , good location and other , for example : United airlines have a good reputation and this is a strength of the company .Weaknesses are internal limit that may limits the company’s ability to achieve its objectives , such : bad location , poor quality product and other , for example : United airlines have a lack of resources and this is a weakness of the company . Opportunities are external factors that may help the company to exploit to its advantages , such :demographic changes , economic claims , new technology and taste of customers , for example : in the holidays , people often want to travel , so United airlines provide a good offering to attract more travelers . Threats are emerging or current external factors that may challenge the company’s performance , such as : economic crisis , taxation and competitions , for example : United airlines have a many competitors that may challenge the company’s abilities to attract more customers . as I’m the owner and managers of United airlines ,first I will look at my own internal strengths for example : United airlines are a very trusted brand and Has an employee strength of over 85,000+ . While my own internal weaknesses
The main activities of the group include passenger and cargo air transportation, the provision of engineering services, pilot training, air charters together with tour wholesaling. Company Strategies The company has sought to maintain two main strategies that enhance the company’s competitive advantage within the market together with the development of a larger market share. Through the integration of the balanced scorecard, the company can effectively assess its operations within the market against the operations of the competitors in the industry. Through the integration of customer-relationship management models, the company can develop a larger customer base and consequent market share. The process may be influenced by the identification of customer needs, and consequent provision of the market needs through the company products (Singapore Airlines,
External versus Internal Hiring: knowing when to develop or acquire talent can be cost-effective for the organization. To control this process, measuring the fundamental knowledge and commitment of internal hires can reduce or eliminate the cost altogether. External hires are gauge through originality and a larger pool of applicants. Goal Attainment: Goal achievement measures the acknowledgment, obligation, inconvenience, and continuous response to the goal progress. Conclusion The use of metrics in business as a computable quantify helps an organization to examine, follow and evaluate the accomplishments and dissatisfactions of the organization.
The company’s ability and understanding of their organizational strategy and product development is key to the company’s profitability, if Boeing understands what the customer wants by performing primary and secondary research they can deliver an outstanding product that will allow for higher sales not only with the target delivery customer but future customers worldwide. Diversification of their products is another key market driver, if the products developed are successful and current customers are satisfied this enables Boeing to enhance their marketing strategy and diversify their inventory worldwide. Boeing at this
Therefore, it can also be stated that mass media helps in developing an excellent communication with the customers. According to La Rocca et al. (2015:170) stated that by communicating well with the customers assist the organisations to understand the expectation of their customers. The proper means of communication enable the companies to enhance their sales level thereby increasing the profit margin as well. The mass media is primarily employed by the companies in order to reach a mass audience thereby making the process of marketing more