Lastly‚ two-dimension perceptual maps would show the relative competitiveness of the three brands. I. Ways of segmenting Skin Care Products Generally‚ skin care products can be segmented based on four main categories: geographic‚ demographic‚ psychographic and behaviour. To begin with‚ geographic is an important factor in separating the skin care markets. People in various countries and continents basically shape their difference in needs of skin care products. Women in different climatic conditions
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CONSUMER BEHAVIOUR IN TOURISM The study of consumer behaviour focuses on how individuals make decisions to spend their available resources (time‚ money‚ effort) on consumption-related items. The field of consumer behavior covers a lot of ground. According to Solomon (1996)‚ consumer behavior is a study of the processes involved when individuals or groups select‚ purchase‚ use‚ or dispose of products‚ services‚ ideas‚ or experiences to satisfy needs and desires. The marketer needs to understand
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Work Load Distribution 7 Acknowledgment 9 1. Executive Summary 10 2. Market Analysis 11 2.1Market Definition: 11 2.2Market Size: 11 2.3Market Segmentation: 13 2.3.1 Demographic Segmentation: 13 2.3.2 Geographic Segmentation: 14 2.3.3 Psychographic Segmentation: 14 2.3.4 Behavioral Segmentation: 14 2.3.5 According to Benefits Sought: 14 2.4Competition: 15 2.4.1Direct Competitors: 15 2.4.2In Direct Competitors: 15 2.4.3 Competition and Market share 16 2.4.4 Competitiors strengths and
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Question 1 Describe the 7 Ps of marketing and provide examples with which you are familiar. Question 2 Discuss the importance of the ‘marketing mix’ to the success of a firm. 7Ps of marketing: Philip Kotler elaborated McCarthy’s (1960) traditional marketing mix; according to him it consists of 4Ps namely Product‚ Price‚ Place and Promotion. These 4Ps of marketing mix were considered as the main areas where marketing managers try to use limited business resources to achieve their objectives
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segmentation is the division of the market or population into subgroups with similar motivations. Widely used bases for segmenting include geographic differences‚ personality differences‚ demographic differences‚ use of product differences‚ and psychographic differences. The upward or downward movements of a market‚ during a period of time. The market size is more difficult to estimate if you are starting with something completely new. In this case‚ you will have to derive the figures from the number
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Market is the place where buyers meet respective sellers. While a collection of sellers constitute the industry for a good or service‚ a collection of buyers constitute the market for that good or service. Neither markets nor buyers are homogeneous in nature (Alderson‚ 1983; Assael and Roscoe‚ 1976; Claycamp and Massy‚ 1968; Smith‚ 1956; cited in Kara and Kaynak‚ 1997). Therefore‚ it is important for marketers to segregate customers with similar needs and wants as well as similar characteristics
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of the choice criteria? Who all are the Major players in the Market? What are their Strengths? c. Are the consumers willing to pay a premium price for high performance shoes? d. What is the demographic and psychographic profile of customers loyal to Nike? e. What demographic‚ psychographic‚ and product usage characteristics differentiate Nike loyalists from consumers loyal to other brands in the European Markets? Research Objective : Research Objective goal is to find opportunities
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customer needs Decision makers can define objectives and allocate resources more accurately 5 6 Geographic Segmentation Bases for Segmentation Geography Region of the country or world Demographics Market size Psychographics Market density Benefits Sought Climate Usage Rate 7 8 2 Chapter 8 Segmenting and Targeting Markets Benefits of Regional Segmentation Demographic Segmentation Age New ways to generate sales in
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1) Procter & Gamble sells six brands of laundry detergent in the United States‚ each designed for one of six laundry segments Procter & Gamble has identified. Together‚ these six brands take four times the market share of Procter & Gamble’s nearest competitor. Which of the following is a disadvantage of Procter & Gamble’s differentiated marketing strategy? a- lost sales that would have been made with an undifferentiated marketing strategy across all segments b- lost customer
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They had to launch Ka in a rush sacrificing the optimized allocation of resources and some on quality. Page 1 of 7 Pulkit Jain 1481197 2. What were some of the major car-buying dimensions that emerged from the psychographics study? The data are provided in the Ford Ka Psychographics file posted on TLE. Perform a factor
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