Business Plan

Question 1 Market Segmentation is the process of dividing a commercialize into clear subsets of consumers with common needs or characteristics and selecting wiz or more segments to tar conduct with a distinct marketing mix. In addition, the practice of market air division is related to the marketing design by applying the four concepts which argon the toil concept, harvest-tide concept, change concept and marketing concept. Question 2 The advantages of utilise demographics as a basis for segmentation: 1.Helpful in locating a rear end market. 2.The most accessible and cost-effective way to line a target market. 3.Easier to measure than other(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 suffer consumers in some product categories. Yes. Demographics and psychographics can be engage together to segment markets because they provide t he 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 much(prenominal) profiles to assist advertisers in making decisions as to where they are acquittance to spend their advertising budgets.

Question 3 a)Awareness berth: The feeling of consumer awareness of the product, interest level in the product, grooming to barter for the product, or whether consumers need to be informed nigh the product are all aspects of awarenes s. For example; the VPI Pet redress is kn! owing to create both awareness and interest, among embrace owners, for their pet insurance. b)Brand obedience: 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 any case tend to stimulate and reward brand loyalty by offering special benefits to frequent...If you want to get a beat essay, order it on our website: OrderCustomPaper.com

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