Business Plan

Question 1 Market Segmentation is the process of dividing a commercialize into trenchant subsets of consumers with common needs or characteristics and selecting ace or more segments to tar sway with a distinct marketing mix. In addition, the practice of market sectionalization is link up to the marketing design by applying the four concepts which argon the action concept, carrefour concept, change concept and marketing concept. Question 2 The advantages of utilise demographics as a basis for segmentation: 1.Helpful in locating a range market. 2.The most accessible and efficient way to line a target market. 3.Easier to measure than separate segmentation variables. The disadvantages of using demographics as a basis for segmentation: 1.Sex roles train blurred. 2.Gender is no longer an accurate way to dumbfound consumers in some product categories. Yes. Demographics and psychographics can be utilize together to segment markets because they provide the marketers with powerful information astir(predicate) their target markets, add meanings to the findings, for example; the USA Today, as salubrious as many other newspapers and magazines, provide potential and current advertisers with such profiles to assist advertisers in making decisions as to where they are red ink to spend their advertising budgets.

Question 3 a)Awareness berth: The legal opinion of consumer awareness of the product, interest level in the product, grooming to bargain for the product, or whether consumers need to be informed nigh the product are all aspects of awareness. For example; the VPI Pet redress is knowing t! o create both awareness and interest, among embrace owners, for their pet insurance. b)Brand homage: Marketers often try to identify the characteristics of their blot-loyal consumers so that they can direct their promotional efforts to people with similar characteristics in the larger population. They as well as tend to stimulate and reward brand loyalty by offering special benefits to frequent...If you want to get a spacious essay, order it on our website: OrderCustomPaper.com

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