Once segments have been identified, decisions about how many and which segments to target can be made. Essentially there are two distinct types of strategy which can be pursued. Firstly, a company may decide to adopt a concentration strategy, and direct all its marketing effort towards a single target segment, by creating and maintaining a […]
Some of the reasons for utilising segmentation have been elaborated by Fitzroy. He suggests that it is useful in: Achieving a better competitive position for existing brands. More effectively positioning an existing brand by appealing to a limited market.
The «Do It Yourselfer» (25%) — Great pride in good pictures — Gratification from making settings and adjustments — Pride in a complex camera — Regards a good picture the result of his expertise
Bachelor stage (young single people, not living with parents) Newly married couples without children Full nest 1 (youngest child under 6) Full nest 2 (youngest child 6 or over) Full nest 3 (older married couple with dependent children)
Segmentation Common Bases For Segmenting Consumer Markets
Next you should list your organization’s key internal strengths and weaknesses and the external opportunities and threats most likely to affect it.
Having reviewed the external factors which affect your business, you should now consider what internal factors affect you. These factors which are outlined below and detailed on the succeeding pages, are within your sphere of influence.
Marketing Audit Undertake a marketing audit of your business which comprises a resume of the external and internal influences on your justness.
Products can reach customers in several ways. Customers can either obtain them directly from the factory or through a variety of distribution channels. The structure of the distribution channels plays a major role in the marketing mix.
When setting the promotion mix, the company has to consider the following four factors: the type of product or market, choice of ‘push or pull’ strategy, buyer’s readiness stage, and the product’s stage in the life cycle.
