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Segmantation and Marketing Mix

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Submitted By fulafula
Words 1229
Pages 5
Explain the role and function of each of the following and indicate how they can be used by local non-profit organisations.
• The process of target marketing
• Primary research
• The marketing mix

The concept of target marketing has grown in importance as markets have grown geographically and become more complex, both domestically and internationally. In earlier times, mass production was a means of gaining economies of scale quickly but as the consumer has grown more affluent, their aspirations have increased and will only be satisfied by the product that suits their specific characteristics and requirements. Advances in technology have also helped companies to be able to make this differentiation, mostly the product is the same but adjustments are made so that the product is exactly what the customer desires. There are three distinct stages to the target marketing process which are market segmentation, market targeting and positioning. Market segmentation includes identifying the basis for segmenting the market which will be the common characteristics the company groups people by. The bases for consumer segmentation include demographics which is a study of the population’s age, family size, occupation, and education. Geographic segmentation would be the separation of people according to things like country, density and climate. These two types of segmentation could be joined together so that a charitable organisation that goes door-to-door collecting donations could discover where the best localities to visit would be. This would result from the study of people’s occupation and an estimate of their earnings and knowing where people that are more likely to afford giving to charity would live. Psychographic segmentation involves dividing the market according t people’s personalities, motives, lifestyles and social class. Behavioural marketing groups the buyers

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