Business Plan

Question 1 Market Segmentation is the process of dividing a commercialize into intelligible subsets of consumers with common needs or characteristics and selecting unmatchable or more segments to tar demand with a distinct marketing mix. In addition, the practice of market part is think to the marketing design by applying the four concepts which argon the increaseion concept, product concept, change concept and marketing concept. Question 2 The advantages of utilise demographics as a basis for segmentation: 1.Helpful in locating a gull market. 2.The most accessible and cost-effective way to line a target market. 3.Easier to measure than opposite 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 sum up consumers in some product categories. Yes. Demographics and psychographics can be betroth together to segment markets because they provi de 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 passing play to spend their advertising budgets.

Question 3 a)Awareness berth: The popular opinion of consumer awareness of the product, interest level in the product, grooming to misdirect the product, or whether consumers need to be informed nigh the product are all aspects of awareness. For example; the VPI Pet red! ress is intentional to create both awareness and interest, among embrace owners, for their pet insurance. b)Brand verity: 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 likewise tend to stimulate and reward brand loyalty by offering special benefits to frequent...If you want to get a ripe essay, order it on our website: OrderCustomPaper.com

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