The purpose of market segmentation is to enable the marketer to adjust marketing mixes (product‚ price‚ promotion‚ place) to meet the needs of one or more specific segments. Basically marketers use the market segmentation process to divide big markets into smaller segments according to characteristics of individuals‚ different groups and locations. Adidas the largest sportswear manufacturer in Europe and the second biggest sportswear manufacturer in the world markets by looking at buying attitudes
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Nestle’ Segmentation Segmentation is defined as a group of people that share one or more characteristics. Each market segment is unique and marketing managers decide on various criteria to create their target market(s). They may approach each segment differently‚ after fully understanding the needs‚ lifestyles‚ demographics and personality of the target. Some e.g. of common characteristics are: interests‚ lifestyle‚ age‚ gender‚ etc. Common types of market segmentation include: geographic‚ demographic
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INTRODUCTION Audi AG is a car manufacturing company founded in the year 1910 at Zwickau‚ Germany by a German engineer and an automobile pioneer named August Horch. In September 1921‚ Audi became the first German car manufacturer to present a production car‚ the Audi Type K‚ with left-handed drive. The left-handed drive then became popular because it gives better view of the incoming traffic. The company had been one of the leading brands in the car industry in the world for over a century and
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Segmentation Why segmentation? External factors - globalization - clutter - knowledgable customers - competition - technology Internal factors - allocation of resources - effective marketing programmes - opportunies For NPD or/and market development Breaking down the market Potential market (everyone out there) Available market ( those who could buy the product) Target market (those we address) Penetrated market (those who actually buy the products) From
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Kyler Boaz Professor Winter English 1301-010 11 October 2013 Audi Super bowl commercial: Prom Audi successfully convinces car buyers to believe that by driving one of their cars‚ they will feel brave and have confidence to do whatever they desire. In the commercial‚ a high school boy is feeling down because he is lacking a date for prom. He does not even want to go until his father tosses him the keys to the Audi. He feels as if he can do anything. The boy is filled with confidence as he drives
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Segmentation and TESCO Case: Segmentation is essentially the identification of subsets of buyers within a market who share similar needs and who demonstrate similar buyer behavior Using segmentation analysis helped Tesco PLC‚ Britain’s largest retailer stores to decide on their future marketing strategy and to appraise their competitive strengths Tesco realized the requirements for effective segmentation and that it must be Measurable‚ accessible‚ Differentiable‚ Substantial and Actionable
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(Wikipedia‚ 2010). Markets Segments can be separated into: • geographic segmentations (i.e. their location)‚ • demographic/socio-economic segmentation (gender‚ age‚ income occupation‚ education‚ sexual orientation‚ household size‚ and stage in the family life cycle)‚ • psychographic segmentation (i.e. similar attitudes‚ values‚ and lifestyles)‚ • behavioral segmentation (i.e. occasions‚ degree of loyalty)‚ • product-related segmentation (relationship to a product) Which is the market segment of a company’s
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To reach different markets or to promote your products to different locations or people one has to use a method called market segmentation. "Market segmentation describes the division of a market into homogenous groups which will respond differently to promotions‚ communications‚ advertising and other marketing mix variable" (Cumming). Market segmentation is extremely important for companies around the world. If a company doesn’t research the area in which they are going to market or they put
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Green Chemistry – AUDI 1. What does the company sell/manufacture? Audi is a company based in Germany that designs‚ develops‚ produces and sells premium automobiles. Audi is under the control of its patent company Volkswagen. Audi has production facilities in Germany‚ China‚ India‚ Italy‚ Hungary and Belgium. 2. How has this company used green chemistry? With Audi’s current model range‚ it meets the requirements for ‘EU Directive 2005/64/EC’ with regards to their reusability‚ recyclability
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Market Segmentation Introduction The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs‚ wants‚ or demand characteristics. Its objective is to design a marketing mix that precisely matches the of customers in the targeted segment. Few companies are big enough to supply the needs of an entire market; most must breakdown the total demand into segments and choose those that the company is best equipped to handle. Four basic factors
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