Chapstick as its threats. SEGMENTATION Marketing Segmentation is necessary for Lipsmacker to identify and eventually service its target market. The three bases used are the following: demographic segmentation‚ geographic segmentation as well as psychographic segmentation Under demographic segmentation‚ the variables considered are age and socio-economic class. Age is carefully identified because cosmetics are generally age-specific. For example‚ Revlon’s age-defying scientific formulation is for
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18 - 24 years old * Gender: Both male and female * Education: Undergraduate and above * Occupation: University Student * Income Range: RM500 – RM1500 * Race & Ethnicity: All races * Geographic Location: Urban area Psychographics * Perception: Affordable brand which is well-known and provides wide and good quality of product lines up * Learning: Friends and siblings‚ social
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Chapter 04 The External Environment Multiple Choice Questions 1. (p. 81) The external environment can be divided into various subcategories: A. Remote‚ political‚ social B. Remote‚ social‚ operational C. Remote‚ industry‚ operating D. Technological and social Difficulty: Easy Learning Objective: 1 2. (p. 81) A firm’s external environment includes a remote sector‚ industry sector and an operating sector. The remote sector includes which of the following categories
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making process. You will be able to access a variety of secondary sources on line and through the UMASS library. Some recommended sources include: • Simmons Study of Media and Markets (1994) - demographics Lifestyle Market Analyst (psychographic information) • Encyclopedia of American Industries (trends) • Trade publications • Encyclopedia of Associations (identify trade organizations) • Trade Shows Worldwide • Standard Rates and Data • Media kits • Infotrac
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order to plan at best its great promotion campaign. 1. What bases does the LVCVA use for segmenting its target market? Market segmentation helps marketers in dividing a market based on different characteristics such geographic‚ demographic and psychographic. The data from 2001’s research showed how “African Americans‚ Hispanics and Asian Americans accounted for 9‚ 5‚ and 5 percent of the total visitor pool.” Thus‚ one of the bases of LVCVA market segmentation is ethnicity. LVCVA‚ using ethnic and
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market. We can do this by lowering down the price or by creating an effective pricing strategy. (Expanded target market) * Demographic characteristics * For young aged people around 18-26 years old * From the social class C. * Psychographic Characteristics * People who are working or studying * Behavioral Characteristics * Buy 2 bottles daily * They drink in order to unwind themselves from work/study and to socialize or get together with friends and family PRICING
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Income: under $15‚000‚ $15‚000 to $24‚999‚ etc. all the way to over $100‚000 and over Education: high school degree to PhD Occupation: technical‚ sales‚ managerial‚ etc. Might the salesperson want a book on how to be better at closing sales? Psychographic is the marketing segment which looks at people’s personalities‚ values‚ and lifestyles as motivators for making purchase decisions. Introverts might purchase a book on public speaking to be more comfortable with people. People interested in health
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footwear. Under Armor: The up and coming brand‚ they have the edge athletic wear that athletes wear under their uniforms. Target Audience: Demographics: People who are active‚ they like to go on a walk‚ run‚ or jog. Or people who are athletes. Psychographics: “I like to have the newest and freshest looking athletic wear. I’m not very price-sensitive as long as the product looks and feels good.” Dominant Leverage Point: Only Nike offers such a vast selection of athletic wear and footwear. The best
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adults experienced irregularity at least once in last three months. II. - Demographic: age‚ gender (irregularity is reported more for women than men) - Behaviour: specific need: functional (health problem) or psychological (discomfort) - Psychographic: lifestyle (active people) eg: health-conscious Americans who are suffering from the fast-food pop culture and looking for alternatives to junk food active women aged 35-55 who are concerned by this discomfort. No matter whether this is a
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Marketing (Level 2) 2010 / 2011 Marketing a new product 1. Overview of company‚ market and existing portfolio of products. This report proposes the market strategy for the launch of a new fragrance by the Multinational Corporation of GUCCI. The House of Gucci is one of the most established premium fashion brands in the world. Its success has depended largely on its effective marketing strategies. The specific company was chosen because in the middle of an international financial crisis
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