...Segmentation and Target Market Paper State Farm originated in Bloomington, Illinois June 7, 1922 and was founded by retired farmer, George J. Mecheire. Mecheire deemed State Farm insurance company owned by its policy holders, which specialized solely in automobile insurance for farmers. . The company now has a large grouping of insurance and financial services companies throughout the United States and Canada. “State Farm is ranked 41th in the Fortune 500, which list companies based on general revenue for the current year” ("Fortune 500", 2014). State Farm continues to lead the insurance market by realizing when it is time to make a change. The company primarily deals in the baby boomer market as this is the majority of their business even today. However, when realizing that its competitors are focusing more on price point and online functionality, the company chose to still keep its “good neighbor” and personal agent branding but offer consumers the ability to still do a bit of the leg work on their if they chose to. State Farm and Demographic Segmentation Among the most common market segmentation parameters, demographics play an important role in an organization’s upcoming marketing strategies. With this strategy a company might simply divide a larger area into specific consumer traits. Traits such as age, income, gender, race, occupation, education, race, gender, marital status, occupation, education and income are among the most commonly considered demographics segmentation...
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...Samsung Segmentation and Target Market Paper Samsung Segmentation and Target Market Paper Positioning Statement The world has started to take on a healthier lifestyle. Watching what we eat and making sure to incorporate physical activity daily. In order to maintain these numbers many people have started to use technology to record the calories burned as well as monitor their heart rate while working out. Most people have a heart rate monitor and then have to record their information manually to another program in order to keep track of how well they are doing. Samsung has met with this issue by including a Smart watch called the Gear and the Gear Fit in which connects to its Samsung Galaxy 5 and automatically records information from your work out. The company has also included many other features that go along with the use of both its smart phone the Galaxy 5 and its Smart Watch the Gear and Gear Fit. Samsung has cornered the market with this innovative smart watch introducing a new way to stay fit and get healthy and making it easier to maintain records of all of your fitness endeavors. “Introducing Samsung’s first network-connected wearable.** So now you can make and answer calls when your phone isn’t nearby. You can also check texts, emails, updates— even stream and listen to music, right from your wrist.” (Samsung, 2014) Background “At Samsung, we follow a simple business philosophy: to devote our talent and technology to creating superior products and...
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...Starbucks - Segmentation and Target Market Paper MKT 571 March 11, 2014 Starbucks - Segmentation and Target Market Paper Company History Starbucks Corporation is the largest coffeehouse company in the world. Offering the world’s finest fresh-roasted whole bean coffees, this global American company’s history began with the opening of a single store in Seattle Washington’s Historic Pike Place Market in 1971 (Starbucks Corporation, 2014). Inspired by a roasting entrepreneur Alfred Peet, the founders, English teacher Jerry Baldwin, history teacher Zev Siegl, and writer Gordon Bowker created the current Starbucks name and green and white Siern Greek Mythology logo (Madison, 2011). Inspired from early traditions in coffee trade and the first mate from the novel Moby Dick, the unusual company and logo emerged. In 1981, Howard Schultz (Starbucks chairman, president and chief executive officer) first experienced coffee and was drawn to join Starbucks a year later. In 1983, after travels to Italy and becoming captivated by Italian coffee bars, Schultz brought back the Italian coffeehouse traditions to the United States (U.S.) (Starbucks Corporation, 2014). Schultz’s romance with the coffee experience had begun and within a few years he sought local investors and purchased Starbucks. Since Schultz’s purchase, Starbucks has partnered and dissolved its partnership with Kraft, added free Wi-Fi to their stores, placed product on supermarket shelves, partnered with Apple for an iTunes...
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...SEGMENTATION AND TARGET MARKET PAPER Segmentation and Target Market Paper Marketing strategies such as segmentation are based on dividing a larger population of consumers into smaller segments that can be grouped by common needs and or priorities. These different groups can then be targeted by different marketing methods to entice them to purchase goods and services (Wikipedia-Market Segmentation, 2014). Marketing segmentation can be very important for a company because it can help the company expend its’ resources more efficiently. This will increase the return on investment of the money spent on marketing. It allows a company to target those consumers most likely to purchase from them. Best Buy is an electronics chain superstore that employs marketing segmentation and target marketing to more effectively increase sales. Marketing Segmentation Demographics Best Buy’s largest customer demographic population is the Baby Boomer population. Their most vital population segment is actually the young twenty-something’s to early 30s adults who are college educated and do not have children. This population is important because of their perceived preference for discriminating tastes and their exposure to a wider range of products and services due to their college education. Not having children is also an important factor as they can potentially have more disposable income to spend on themselves (Smith, 2012). Psychographics The psychological variables for this demographic...
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...Segmentation and Target Paper: Neese’s Tia Crawford Marketing 571 January 7, 2016 Dr. Catherine Burr Segmentation and Target Paper: Neese’s Neese’s Country Sausage was established by J.T. Neese. He began delivering and selling sausage in 1917, using a covered wagon (Sausage, 2016). The Neese’s Company is located in Greensboro, North Carolina in Guilford County (Sausage, 2016). The family makes various food products that include sausage, souse meat, c-loaf, liver pudding, liver mush, and bacon (Sausage N., Products, 2016). The Neese’s Company has been able to identify itself as an independent market by determining the demands, needs, and wants of their customers (Dictionary, 2016). This process is called segmentation marketing (Dictionary, 2016). Neese's has been able to identify clearly the market and measure its effective size (Dictionary, 2016). The company has also established successful efforts of promotion and branding that have provided the ability to be a top competitor in the market. Demographic Company demographics provides knowledge and statistics of consumers and other clients (Suttle, 2016). Demographics is mostly used to point out differences in attributes among consumers (Suttle, 2016). The demographics for Neese’s consist of gender, race, location, and age. The company evaluates the trends of sales for customers in each area. Depending on the sales for the region, product trends are determined that can have an impact on sales. Future products are placed...
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...Lesson Title: Words Bible Reference: Proverbs 12:18-22 Target Age Group: Elementary to Middle School Learning Context: Sunday School Target Time Frame: 45 minutes Memory Verse: “The words of the reckless pierce like swords, but the tongue of the wise brings healing.” Proverbs 12:18 Learning Aim: 1. Use your words to build others up, not tear them down. Basic Supply List: 1. Bible 2. Chalk/Chalk board 3. Construction Paper 4. Markers Optional Learning Activities: 1. Show the “Speak Life” video from TobyMac. Discuss the examples from the video of words helping or hurting others. 2. Play the “Encouragement Game” Note: In the teaching plan below the words in italics are meant to be read aloud. The regular text is simply directions for the teacher. > > > > Basic Teaching Plan < < < < Introduction: Begin the class by greeting each student. Ask them to try to think of a time when someone said something that made them feel really good. What did they say? Allow a few students to share. Now, have them think of a time when someone said something to them that did not make them feel good. Write this question on the board (or just say it out loud) “Do the words that you say matter?” Allow the kids to consider this for a few minutes, possibly with a partner. Then lead a discussion about how the words we say affect those around us. In conclusion, the words we say have to power to make people feel a certain way, and we must...
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...Segmentation And Target Market Paper Free Essays 1 - 30 www.papercamp.com/group/segmentation-and-target-market-paper Cached Free Essays on Segmentation And Target Market Paper for students. Use our papers to help you with yours 1 - 30. Segmentation and Target Marketing - Essays - Menaiedw www.termpaperwarehouse.com/essay-on/Segmentation-And... Cached Read this essay on Segmentation and Target Marketing . Come browse our large digital warehouse of free sample essays. Get the knowledge you need in order to pass your ... Segmentation and Target Market Paper - Marketing homework help www.homeworkmarket.com/content/segmentation-and-target... Cached Write a white paper on a company of your choice and discuss the market segmentation within that industry along with the target market for the company and the ... Segmentation and Target Market Essays - Free Essays, Term ... manyessays.com/essay/segmentation-and-target-market Cached Title: Pages / Words: Save: how is market segmentation used in target marketing? Broadly, markets can be divided according to a number of general criteria, such as by ... Segmentation and Target Market - Term Papers - Mikeymyles www.studymode.com/essays/Segmentation-And-Target-Market... Cached Segmentation and Target Market According to Kotler, "a market segment consists of a large identifiable group within a market, with similar wants, purchasing power ... Target Market Segmentation Research Paper - Scribd www.scribd.com/.../Target-Market-Segmentation-Research-Paper...
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...UNIT 4 Marketing Principles LO2 Be able to use the concepts of segmentation, targeting and positioning CASE STUDY: You are a Business Development Consultant. Your Firm is hired by a small business enterprise that is facing myriads of marketing and organizational challenges. YOUR JOB AS A BUSINESS DEVELOPMENT CONSULTANT IS TO 1) Analyze the problems in the business, 2) Research solutions and/or benchmark good practices, 3) Make suitable recommendations for improvements, and 4) Help the business to implement these recommendations satisfactorily. TEAM ASSIGNMENTS PRESENTATION: 15 MINUTES LEARNING OUTCOME 2: Be able to use the concepts of segmentation, targeting and positioning 2.1 Show macro and micro environmental factors which influence marketing decisions 2.2 Propose segmentation criteria to be used for products in different markets 2.3 Choose a targeting strategy for a selected product/service 2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations 2.5 Propose new positioning for a selected product/service Submission Deadline: November 16, 2015 TEAM ASSIGNMENT: AC 2.1 Show macro and micro environmental factors which influence marketing decisions Guiding Term Paper Questions The business believes that competition from nearby businesses is preventing it from growing and increasing sales. However many other micro and macro factors are impacting sales and its marketing decisions. So show the macro...
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...Segmentation and Target Marketing Andrew Swanson MKT/571 December 21, 2015 Steven Kraus Segmentation and Target Market Paper “Marketing segmentation and targeting are particularly important for finding customers that are the best match for a business’s products and services” (Suttle, 2014, ¶ 2) This statement speaks directly to the ideal scenario every company hopes to find; one where it’s strengths as a product and service provider are best matched with the client and consumer base most in need of these outputs. When reviewing soft drinks giant Coca Cola, we find a company that specializes in diversity; dominating the world’s beverage market with a wide variety of product choices specifically targeted to the most opportune consumers. The paper that follows will outline several critical market segments used by the company including overviews on demographic, psychographic, geographic and behavioral characteristics of the Coca-Cola Company. Coca Cola’s target markets and the company’s plans for targeting these markets will also be discussed, and a proposed positioning statement for the company will also be introduced. Company Overview Founded in 1886, The Coca-Cola Company is headquartered in Atlanta GA, and “is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands.” (Coca-Cola Company, 2015). Coca-Cola’s mission focuses on consistently transforming its product line to stay in step...
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...MKT 435 All Assignments FOR MORE CLASSES VISIT www.mkt435rank.com MKT 435 Week 1 Consumer Behavior and Marketing Paper MKT 435 Week 2 Porsche Case Study MKT 435 Week 3 Part I Consumer Behavior and Marketing Strategy MKT 435 Week 3 How Attitudes are Influenced MKT 435 Week 4 Part II Consumer and Behavior Marketing Strategy MKT 435 Week 4 Examine a Communication Tool MKT 435 Week 5 Final Consumer Behavior and Marketing Strategy MKT 435 Week 5 Consumer Decision Making Process Analysis --------------------------------------------------------------------------------------- MKT 435 Week 1 Consumer Behavior and Marketing Paper FOR MORE CLASSES VISIT www.mkt435rank.com Choose a company with which you are familiar. Prepare a 1,050- to 1,400-word paper in which the interrelationship between consumer behavior and marketing is discussed. Find three specific examples of the company’s marketing strategy and its relationship with consumer behavior. Examples may include mission/value statements, print advertising, website content, press releases, among others. Using these examples, what is your opinion of how the company uses the understanding of consumer behavior to create and implement its marketing strategy? Discuss each example you found using specific information. Include a screenshot or copy of the marketing pieces you examined. Format the paper consistent with APA standards. --------------------------------------------------------------------------- MKT 435 Week...
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...Segmentation and Target Market Paper MKT 571 November 20, 2011 Introduction A market segment consists of a group of customers who share a similar set of needs and wants. The major segmentation variables by different sets of characteristics such as geographic, demographic, psychographic, and behavioral. (Kotler and Keller, 2012) Using this market-based strategy assist marketers to study the behavior of shoppers by categorizing markets. It also provide marketers a better vision to satisfy the needs and wants of customers and to gain more of their business. In this paper, I plan to discuss the market segments and target market of the small box discount retailer Dollar General, a retailer of name brand and private label products. Company Background J.L Turner and Sons Wholesale opened up their first store in 1939. Located in Scottsville, Kentucky, J. L. Turner and his son Cal Turner Sr. invested $5,000 each to begin a new partnership in dry goods as wholesalers selling to retailers. In 1945, the partners used a taunting strategy to gain business of farmers that landed success in the retail business. The luring strategy he used offered farmers from the tobacco field a free left-hand glove when they cashed their check, and offered the other glove if the farmers came to their stores. This unique strategy attracts the business of the farmers for additional items needed directly on pay day. After...
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...MARKET SEGMENTATION Write a white paper on a company of your choice and discuss the market segmentation within that industry along with the target market for the company and the selection process for that target market. Required Elements: * No more than 2100 words * Include demographic, psychographic, geographic, and behavioral characteristics for the selected company. * A positioning statement for the company with careful consideration of their brand and strategy * Paper is consistent with APA guidelines. Introduction: The fundamental component of Market segmentation is a market-based strategy. A market segment is a purchase behaviors and different descriptive characteristics and specific group of customers with distinctive customer needs (Baker M.J, 1995) By categorizing markets into sub sectors, targeting marketing effort in such a way as to meet the other requirement and technical requirements of each of these, organizations may be able to secure big competitive position than if they attempted to satisfy the fundamental requirements of the market as a whole. In market segmentation there are four criteria that have to be satisfied in order for market segmentation to be effective. A market segment should be accessible, identifiable, substantial, and stable. In Identifiable, there should be indicators of observable that enable the segment to be defined and quantified (Baker M.J, 1995). Accessible, that is, it should be probable to target specifically the...
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...Marketing Individual Reflection Paper Individual Reflection Paper 2012 2012 It has been a fulfilling 11 weeks as I embark on this reflection paper in the midst of a hectic exam preparation schedule. It is time to review what I have gained and learnt as an individual after attending numerous marketing tutorials and hearing many wonderful presentations. Allow me to recapitulate. Segmentation, Targeting and Positioning Segmentation, Targeting and Positioning (STP) is undeniably one of the most important concepts of marketing. Through the tutorials, I have learnt that STP sets the base of the entire marketing effort. Segmentation divides the market through demographic, geographic, psychographic and behavioural segmentation. It clearly defines the boundaries of the different market opportunities that one may want to develop in. Targeting involves evaluating the different market segments and then choosing the best target market(s) which are feasible and in line with the company’s goals. Positioning creates a value proposition which represent a set of differences or competitive advantages that differentiates the product, delivering more customer value. STP aids one in creating a product that is based on a customer-driven marketing strategy. In this aspect, I believe that my team has done relatively well. By understanding STP, my team was able to use multiple segmentation bases (Demographic, Psychographic and Behavioural) to define our target market. This enables us to better understand...
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...Segmentation and positioning A case study of Bang & Olufsen Segmentation and positioning – Bang & Olufsen Table of contents 1. Introduction ............................................................................................................................ 2 1.1 Problem Statement .............................................................................................................................................................. 2 1.2 Methodology .......................................................................................................................................................................... 3 1.2.1 Data gathering .................................................................................................................................................................... 3 1.3 Delimitation ............................................................................................................................................................................ 4 2. Bang & Olufsen ........................................................................................................................ 4 3 Segmentation .....................................................
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...Write a white paper on a company of your choice and discuss the market segmentation within that industry along with the target market for the company and the selection process for that target market. Required Elements: * No more than 2100 words * Include demographic, psychographic, geographic, and behavioral characteristics for the selected company. * A positioning statement for the company with careful consideration of their brand and strategy * Paper is consistent with APA guidelines. http://wps.pearsoned.co.uk/ema_uk_he_kotler_euromm_1/126/32286/8265285.cw/content/index.html I. Introduction BMW stands for Bayerische Motoren Werke AG, translated means Bavarian Motor Works (BMW). It was founded by Karl Rapp and Gustav Otto. In 1916, the Flugmaschinenefabrik Gustav Otto Company merged into Bayerische Flugzeug-Werke AG (BFW). In 1917, the Rapp Motorenwerke Company merged with Bayerische Motoren Werke. In 1922, BMW AG transferred engine construction operations, company name and brand names to BFW. March 6, 1916 is known as the birth date of Bayerische Motoren Werke AG (BMW) (“Bmw Group”, 2014). BMW is synonymous for luxury, the ultimate driving machine. In the past BMW only targeted the elite, wealthy, successful businessman. BMW has stepped out of the box to target other segments of the market to increase profits and gain an even bigger share of the industry. II. Market segmentation within the industry The market segmentation within the automobile...
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