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- Identify and assess the three most common approaches to market segmentation by using consumer characteristics that may influence what people consume or how they respond to marketing communications.Develop a brief segment profile for these three consumer segments. Note: You should consider their main needs, are they light or heavy users, what retailers they use, their likely demographics, are they brand loyal or switchers, what media do they consume, are they price sensitive, which brands are they most attracted to, and so onWhat type of segmentation is the primary starting point for most marketers?
- List and explain the major demographic characteristicsfrequently used in segmenting consumer marketsHow do marketers use local marketing and individual marketing? Do these terms mean the same thing?Explain the target marketing process and state why marketers tend to choose the target marketing process as against mass marketing and mass customization
- The requirements for effective segmentation are measurable, accessible, substanial, and actionable. Give the meaning and significance of each and an example of each. And what is market targeting? Describe and give the importance and example of it.Consumer advocates criticize marketers’ reliance on segmentation because segmentation analyses utilize personal data and represent an abuse of personal privacy. Considering both your concerns as an individual and the value of this data for marketing, where do you stand on this issue? Discuss your position and propose guidelines marketers could use to benefit from segmentation analyses while protecting and respecting consumer privacyHow is demographic segmentation used in consumer markets? Provide an example where marketers have used demographic segmentation.
- Describe how a firm chooses which consumer group(s) topursue with its marketing efforts.Choose any one social media platform or site and research the demographics of the users of that platform. what are the gender, age range, and income level of the typical user? Is this changing or expected to change in the near future? Based on that information, brainstorm at least five brands or products targeted at that market segment that could effectively be marketed on that platform.Segmenting buyers by personal characteristics such as age, income, ethnicity and nationality, education, occupation, religion, social class, and family size is called demographic segmentation. TRUE OR FALSE? According to the content of the article below (also placed in module 3), the discussion in the article is about Psychographic segmentationUeltschy, L.C. ( 2011 ), Targeting the growing Hispanic market: ethnicity and media preferences, Marketing Management Journal, Vol. 21 No. 2, pp. 10 - 21 TRUE OR FALSE? McDonald's conducted a survey that helped develop products as per geographical areas. It realized that half of Indians are vegetarian and hence offered limited meat products. It developed the Veg Maharaja Mac. According to the chapter readings (Module 3), this an example of geodemographic segmentation. True OR False?