Strategic Marketic

Strategic Marketic Essay example
Masters
Essay
Marketing
Pages 11 (2761 words)
Download 0
Strategic Marketing Name: Tutor: Institution: Date: Table of Contents Introduction 3 Market Segmentation 3 Types of Market segmentation 4 Segmentation based on Geography 4 Segmentation based on Demography 5 Segmentation based on Psychology 6 Segmenting Markets based on Ethnicity 6 Effectiveness in Segmentation Approach 7 Examples of Organizations Using a Segmentation Approach 9 Conclusion 12 References 13 Strategic Marketing Introduction Strategic marketing is used by businesses to attract, maintain the existing and the new customers in target market (Aaker, 2005, 20)…

Introduction

The company should mainly consider the consumer behaviour which is unpredictable in while segmenting the market. In addition, entering a given market segment with a new product is likely to perform well in the market if it has been developed to meet consumers' need; in fact a company should ensure it uses all means to maintain this (Hawkins, Best, and Coney, 2004, 30). This paper will focus on discussing principles of segmentation that are fundamental to marketing, while implying the way unique groups of customers should be approached. The paper will also present relevant examples from renowned organizations through a critical evaluation of the way they use segmentation approach to create value to themselves and their customers. Market Segmentation This refers to a process of segregating a market into distinctive groups of buyers with different needs, attributes, or behaviours that require separate marketing mixes (McDonald & Dunbar, 2004, 56). ...
Download paper
Not exactly what you need?

Related papers

Strategic Marketing
In addition to this the company would specifically target the youth and middle age individuals falling under the age bracket of 18-45 under its list of targeted customers. The choice of the target market assumes significance considering the fact that products like chewing gum are especially popular with the youth and middle aged individuals. The chosen market segment for the new product is also…
Strategic Management
Toyota Motor Corporation Toyota Motor Corporation is a company that is leading globally in manufacturing and sales, in the automobile industry. Its main aim is to make better cars and be able to contribute to the society at large. Toyota Motor Corporations is committed to considering the customer first by manufacturing vehicles that are of high quality and those that are of affordable price…
Strategic Marketing
68). General Motors can engage in partnerships with other manufacturing companies in order to reduce set up costs. Through creating assembly lines of the different companies, GM has managed to reduce costs of operation reducing the prices of the final products. Despite the success of the strategies employed by the companies, the major threat to the profitability and competitiveness for the…
strategic leadership
Essentially the level to which an organization can develop effective consensus, manage the transformations and sustain commitment will count a lot on the success or failure of any enterprise (Hiatt & Creasey, 2003). According to Balogun (2008) the formulation of all changes in the organization is critical components of any program to support the employees of that particular organization and the…
strategic leadership2
31). In addition, choices are made on the basis of internal instincts and knowledge. Nonetheless, this thinking may make an organization to lose contact with clients (Lewis & Pendrill 2000, p. 17). This paper will assess whether or not Wal-Mart has utilized outside-in thinking or inside-out thinking in its various activities. Wal-Mart follows both outside-in thinking and inside-out thinking in its…
Strategic Plan
The focal point of this notion declares that it has become highly necessary for school managements to realize and acknowledge the importance of developing a comprehensive strategic design in governing the operations of the institution. Therefore, the purpose of this strategic plan for Paulo Freire Charter School (PFCS) is to critically analyze, examine and assess the extensive categories of…
Strategic Marketing
Corporate strategy makers should focus on identifying the synergies existing between different operating units. For this purpose, most successful organizations develop their marketing strategy in tune with the corporate strategy for the whole company. Different companies accomplish this goal in a multitude of ways and there exists considerable debate regarding the method in which the strategies…