Therefore, it can be mentioned in a nutshell that the hospital caters to the general people with a wide range of medical facilities. Research A research on the consumers in the area surrounding the hospital would be carried out with the help of Value and Lifestyles (VALS2) and Potential Rating Index by Zip Market (PRIZM). VALS2 This tool for lifestyle analysis makes an endeavor to contour consumers by categorizing into three diverse orientation groups and they are principle oriented, action oriented and status oriented. Each of the categories is believed to be supported by two dimensions and they are resources as well as self-orientation. The orientation groups are then again sub-grouped into eight diverse lifestyle segments. These mentioned lifestyle segments are known as actualizers, fulfilleds or survivors, achievers, believers, experiencers, strivers, makers and strugglers. The medical facility or rather the hospital is assumed to be located in the United States (US) where the population has been learnt to be alienated into three main consumer kinds as previously mentioned. The principle oriented individuals are the ones whose selection for services is presided over by their respective beliefs rather than their requirement for support from other individuals. The selections of the status oriented individuals are supposed to be guided by the support, action along with the views of the other individuals. The action oriented individuals are measured to be those who get stimulated by a desire for physical or even social form of activity, risk bearing and variety (Indira Gandhi National Open University, 2012). The believers and the fulfilleds have been stated to fall under the category of principle oriented individuals. The actualizers, achievers, strivers and strugglers are learnt to belong to the category of status oriented individuals. Lastly, the experiencers and the makers are clubbed in the category of action oriented individuals or segments. Therefore, the application of this particular model would effectively aid in segmenting the market for the needed kind of service (Indira Gandhi National Open University, 2012). PRIZM The other tool for assessing the lifestyle of the individuals for the intended service is the PRIZM. The intention of this mentioned tool is recognized to be the assessment of the geographic regions along with associating them with the consumption pattern. This form of assessment is supposed to be founded on the assertion that lifestyle as well as consumption remains principally guided by the demographic rudiments. An imperative step with regard to this form of assessment is the ascertainment of the proper base definition in order to appropriately match up with the accurate household base (Scarborough Research, 2012). Market Segmentation The target segment or rather the kind of individuals targeted for the medical facility or the hospital would be the principle oriented individuals and the status oriented individuals. The initial category of individuals are learnt to be quite well educated individuals who are either engaged with professional occupations or are retired. This implies that the age group can be ascertained from middle to higher that is from 40 to above 65 years of age. This particular segment would be the appropriate choice as the target patients for the intended medical facility owing to their age group. The individuals belonging
Marketing Research and Segmentation Problem Introduction The hospital considered for this research paper is found to be involved with providing an array of medical facilities to the underprivileged as well as to the general people. The hospital is recognized to be amongst the oldest in New England…
Hospitality businesses would always put great effort into satisfying the guests while they were on the property, but they would look for ways to bring in more customers at the same time. However, managers realized that just searching for new customers is not enough in today's aggressive market.
7 2.4.3 Accuracy of demographic information 7 3. Conclusion 7 References 8 Appendix 9 1. Introduction In the context of global market firms need to continuously update their strategies so that their market position is not threatened. Marketing can help a firm to improve its image in the market and expand its customer base.
However, prior to the generation of a marketing communication plan, there are important data or ideas that will also have to be taken into account. Thus, the need to understand customers’ needs and preferences and anlyse the market are important moves prior to the actual marketing communication plan.
However, managers realized that just searching for new customers is not enough in todays aggressive market. That is how loyalty marketing, not only in the hospitality industry but also in the whole business market, emerged as being necessary and ideal. Loyalty
Segmentation enables a business to determine how to deliver services and products to the different consumers, and it will help in figuring out the four P’s of marketing, which are place, product, promotion and place (McDonald & Dunbar, 2004). The
Today firms are investing heavily on virtual project network to improve on their competitiveness and performance. Despite the fact that project network is growing prevalence, little is known about it and how it
This paper focuses on the potential use of marketing research and segmentation for the improvement of performance of a specific organization: the Macquarie University Hospital, one of the most important hospitals in New South Wales, Australia. Author makes customized lifestyle analysis and helps the organization to proceed to market segmentation.
Academic Integrity: All work submitted in each course must be the Learner’s own. This includes all assignments, exams, term papers, and other projects required by the faculty mentor. The known submission of another
breach of certain required conducts a misdemeanor had occurred from the part of Officer Speedy as an Innocent pedestrian and a speeding sports car driver died during the course of hot pursuit which the department of Officer Speedy did not permit as a policy. In this regard, it
This saw many governments invest in the education sector. Basic education was made free, leading to the upsurge of student numbers in schools. After completion of such basic education, there developed a great demand
2 pages (500 words)Research Paper
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