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Marketing is everything, if you focus on every customer then you'll end up with few customers instead select the required people for the product or create a product for a specific people, that's called targeting a market area.
IIt is simply breaking a large portion of area into smaller areas or regions which are comfortable to market.
There are four types of segmentation of markets, they are
- Psychographic
- Demographics
- Behavioral
- Geographic
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- As an ABM student, do you agree that the marketing’s first task is to discover consumer needs and wants? Explain.In what ways is the company Target addressing the needs and wants of its target consumers? please no plagiarism.Instructions Suppose you want to promote a line of costume jewelry to upper-middle class teenaged girls. What factors, you think, would influence the buying behavior of your target market? How each of these factors will affect their buying patterns?
- Describe what a car manufacturer should do if he decides to pursue;Production orientationProduct orientationSelling orientationMarketing orientationSocietal marketing orientationSuggest and critically discuss a model that helps managers to decide to adopt an offensive or defensive marketing route. Support your answer with examples.How do you expect target customer to measurably respond to your marketing strategy and tactics?
- List and briefly explain two reasons why studying consumer behavior is relevant to effective marketing planning. define consumer behavior; describe a market controlled information source; list and describe two factors that may influence the level of consumer involvement.What is customer lifetime value (CLV) and why is it important for marketing growth?Who are the targeted customers in affiliated marketing? What is known about their behavior? Why is that marketing approach effective? or can it be improved? Provide specific examples to backup you details.
- Using a differentiated marketing strategy, a company is likely to design a product and a marketing program that will appeal to the largest number of buyers. true or false?Market Segmentation and Your Purchase Habits In this learning activity, we will develop skills related to explaining market segmentation and segmentation variables, and their relevance to marketing. A market segment is a piece of the market. Market segmentation involves aggregating prospective buyers into groups that have common needs and who respond similarly to marketing programs. They are similar in their consumption behaviour, attitudes, and target market profiles. Find an example product category from your life or your purchasing habits that fits into each of these four segmentation categories. Mass marketing strategy: Marketing a product with a broad appeal to the entire market without any product or marketing differentiation This is uncommon and can be seen with utility companies. Segment marketing strategy: Marketing a range of different products and brands to specifically meet the needs of an organization's varied target markets. This is common with large companies such as car…Does Marketing Create or Satisfy Needs? Marketing has often been defined in terms of satisfying customers' needs and wants. Critics, however, maintain that marketing goes beyond that and creates needs and wants that did not exist before. They feel marketers encourage consumers to spend more money than they should on goods and services they do not really need.