Business Plan

Question 1 Market Segmentation is the process of dividing a commercialize into transparent subsets of consumers with common needs or characteristics and selecting ane or more segments to tar maneuver with a distinct marketing mix. In addition, the practice of market breakdown is connect to the marketing design by applying the four concepts which argon the business concept, reaping concept, change concept and marketing concept. Question 2 The advantages of utilise demographics as a basis for segmentation: 1.Helpful in locating a quarry market. 2.The most accessible and cost-efficient way to line a target market. 3.Easier to measure than separate 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 make out consumers in some product categories. Yes. Demographics and psychographics can be lend oneself together to segment markets because the y provide 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 profiles to assist advertisers in making decisions as to where they are passage to spend their advertising budgets.

Question 3 a)Awareness berth: The concept of consumer awareness of the product, interest level in the product, grooming to demoralise the product, or whether consumers need to be informed nigh the product are all aspects of awareness. F or example; the VPI Pet redress is designed! to create both awareness and interest, among embrace owners, for their pet insurance. b)Brand committal: 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 excessively tend to stimulate and reward brand loyalty by offering special benefits to frequent...If you want to get a respectable essay, order it on our website: OrderCustomPaper.com

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