Business Plan

Question 1 Market Segmentation is the process of dividing a commercialize into translucent subsets of consumers with common needs or characteristics and selecting whizz or more segments to tar manoeuver with a distinct marketing mix. In addition, the practice of market class is associate to the marketing design by applying the four concepts which argon the payoff concept, ingathering concept, change concept and marketing concept. Question 2 The advantages of utilise demographics as a basis for segmentation: 1.Helpful in locating a objective market. 2.The most accessible and cost-effective way to line a target market. 3.Easier to measure than early(a) segmentation variables. The disadvantages of using demographics as a basis for segmentation: 1.Sex roles train blurred. 2.Gender is no longer an accurate way to write out consumers in some product categories. Yes. Demographics and psychographics can be wage together to segment markets because they p rovide the marketers with powerful information astir(predicate) their target markets, add meanings to the findings, for example; the USA Today, as salubrious as many other newspapers and magazines, provide potential and current advertisers with such(prenominal) profiles to assist advertisers in making decisions as to where they are sack to spend their advertising budgets.

Question 3 a)Awareness berth: The flightiness of consumer awareness of the product, interest level in the product, grooming to vitiate the product, or whether consumers need to be informed nigh the product are all aspects of awarene ss. For example; the VPI Pet redress is de! signed to create both awareness and interest, among embrace owners, for their pet insurance. b)Brand faithfulness: Marketers often try to identify the characteristics of their blot-loyal consumers so that they can direct their promotional efforts to people with similar characteristics in the larger population. They in addition tend to stimulate and reward brand loyalty by offering special benefits to frequent...If you want to get a bounteous essay, order it on our website: OrderCustomPaper.com

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