marketing mix - page 6
Keywords: new marketing mix of Skoda
By finil on 15/05/2009
Level: Master's degree (MA, MBA, MSc, MEng, MRes, MPhil etc)
Page Number: 6 of 10 pages: 1 2 3 4 5 6 7 8 9 10
distinct subsets of customers
with similar needs and characteristics that lead them to respond in similar ways to a particular
product offering and marketing program. There are many ways of dividing a market into
segments,:
6.1 Demographic
While firm demographics are useful in segmenting organizational markets,we usually think of
demographics in terms of attributes of individual consumers, as shown in below table.
Demographic descriptors Example of categories
Age under 18, 18-24,25-34,35-49,50 and over
Sex male ,Female
Household life cycle young,single,married,older couples,older
Income under£5000,£10000-15000, etc.
Occupation student,Professional, managers
Education Graduates, Masters, Professional
Race and ethic origin Asian,American, European, Jewish
6.2. Geographic Descriptors
Different location vary in their sales potential, growth rates, customer needs, cultures, climates,
sevice needs, and competitive structures, as well as purchase rate for a variety of goods. Geographic
segmentation is used in both consumer and organizational markets and is particularly important in
retailing and many services businesses, where customers are unwilling to travel very far to obtain
the goods or services they required. Thus, one way to segment retail market is by distance or
driving time from a particular location. The area included within such a geographically defined region is called a trade area .
6.3. Behavioral Descriptors
There s no limit to the number of insightful ways successful marketers have segmented market in behavioral terms. Behavioral descriptors can take many forms, including those based on consumer needs; on more general behavioral patterns, including lifestyle or social class; and, in organizational markets, on the structure of firms' purchasing activities and the type of buying situations they encounter.consumer needs, Life style, and Social class are comes under this segmentation.
7. Marketing Mix
The marketing mix is the combination of controllable marketing variable that a manger uses to carry out a marketing strategy in pursuit of the firm's objectives in given target market. Dozens of specific tactical decision must be made in designing a strategic marketing program for a product-market entry. These decision fall into four categories of major marketing variables that a manger has some ability to control over the short term. Often called the 4ps, the controllable elements of a marketing program are the product offering;price; promotion and place. Because decision about each element should be consistent and integrated with decision concerning the other three, the four components are often referred to as the marketing mix
8. Marketing plan
These questions are going to be answered: How do we communicate our strengths to the customer? How do we identify customer requirements and changes in customer requirements?
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