EMS-Assignment No.7
EMS-Assignment No.7
EMS-Assignment No.7
7
1. Why is it essential for organizations to segment markets and target particular groups
of consumers?
To have an efficient planning campaign, the prospective market must be
segmented. They will have information and data on what a certain market
needs or desires, as well as what unique products, services and campaigns
the target demands by focusing on each sector. The corporation gains since
they can better employ their corporate resources and make better strategic
marketing decisions as a result of this.
2. Explain how and why the Internet makes market segmentation easier.
Marketers reach consumers in their related segments solely with the
internet's assistance. This makes it much easier for buyers and marketers to
find certain topics inside a specified location. Moreover, Internet can provide
much background information and up-to date information on market and
competitors. This example demonstrates how the internet makes market
segmentation much easier.
3. Discuss the major bases for segmenting consumer and business markets.
Geographic, demographic, psychographic, and behavioral segmentation are
the four basic building blocks for segmenting consumer and commercial
markets. The success of a corporate operation is dependent on market
segmentation. This is done with the goal of identifying an appropriate market
in order to develop a specialized, accurate, and appropriate marketing plan,
reach and access all sorts of customers, and meet the individual
requirements and wants of varied consumers. Market segmentation allows
marketers to concentrate their efforts and resources on their chosen target.
Geographic segmentation is a sort of market segmentation in which
potential consumers are divided into categories depending on their
location. Geographic segmentation helps marketers to target people
in a country, city, or area with messaging tailored to their individual
wants and requirements.
Demographic segmentation separates the market into smaller
groups based on criteria like age, gender, and income. Rather than
reaching the whole market, a brand employs this strategy to
concentrate resources on a certain segment of that market.
Psychographic segmentation takes use of this by separating
customers into groups based on psychological characteristics like as
behaviors, personalities, lifestyles, and beliefs. These variables are
then examined in order to forecast how a consumer will react to a
targeted marketing strategy.
Behavioral segmentation is a strategy of categorizing clients based
on their behavior patterns. These habits might be related to the
customer's lifecycle, such as getting married, purchasing a house, or
to seasonal routines, such as holiday shopping and summer
vacations. Customers' interactions with the brand, such as purchase
history or how they respond to certain marketing messages, may also
be segmented.
4. Choose 2 local brands and identify their positioning statement. Do you believe in
their positioning statement? Why or why not?
Unlike other beverage options, Coca-Cola products inspire happiness and
make a positive difference in customers' lives, and the brand is intensely
focused on the needs of consumers and customers.