...time spent during the tutorial will be much more productive!Tips: fill in as much as you can. When filling up the template always think of the arguments you have to support your decisions (you will need to demonstrate your argumentative and critical skills in the coursework). | Segmentation Identify key segmentation variables and segment the market into three segments.Key segmentation variables (think through as many as possible):‘Umbrella’ variable (e.g, benefits sought, lifestyle, age, income etc.):Your identified three distinct segments (they shouldn’t overlap): * Segment 1: People with chronic back pain. - Segment 2:People over the age of 55 * Segment 3:People who are of mid-level income , they don’t want to perform surgery since expensive and want a substitute with is of same quality but at a more acceptable cost. | Targeting Evaluate market segments and choose the target segment.Market attractiveness criteria (segment size, segment growth, segment profitability etc.):Business strength criteria (resources, skills and competencies etc.):How would you rank the segments based on the market attractiveness and business strength (you are not going to use any sophisticated tools at this stage, simply rely on your experience and understanding): * Highest potential: segment x * Medium potential: segment x * Lowest potential: segment xYour target segment (one of the three): | Positioning Think about how you are going to position your product/service...
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...Hamilton Power Tools marketed industrial products by catering to constructional and industrial tool market. Their construction product lines included power trowels, power trowels, concrete vibrators, generators and power driven tools. Their industrial lines were primarily pneumatic tools: drills, screwdrivers etc. One of their products – gasoline-powered chain saw was slightly different from the above tools. Mr. Campagna, the marketing manager for Hamilton Power Tools knew that the chain saw industry primarily catered to following markets:-Professionals (lumberjacks), farmers, institutions and casual users. Among these casual user segment was considered to be the future growth market. Hamilton Power Tools thus hired Consumer Metrics of Chicago to conduct two research projects. The first one was a projective technique known as Thematic Apperception Test(TAT) using picture response techniques. The basic premise of TAT research is that it in an unstructured and indirect manner encourages respondents to project their emotions, needs, motives, attitude and values at a sub-conscious level. Purpose of research: The research was primarily exploratory to gain insights into reasons why people make certain purchases. Mr. Campagna also wanted to get a flavour of language people use in talking about chain saw. Analysis of method: The research was conducted in states of Illionois and Wisconsin. People who were selected for TAT were screened on basis of whether they planned to purchase...
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...Segmentation, Targeting, and Positioning Segmentation, targeting, and positioning together comprise a three stage process. We first (1) determine which kinds of customers exist, then (2) select which ones we are best off trying to serve and, finally, (3) implement our segmentation by optimizing our products/services for that segment andcommunicating that we have made the choice to distinguish ourselves that way. Segmentation involves finding out what kinds of consumers with different needs exist. In the auto market, for example, some consumers demand speed and performance, while others are much more concerned about roominess and safety. In general, it holds true that “You can’t be all things to all people,” and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable. Generically, there are three approaches to marketing. In the undifferentiatedstrategy, all consumers are treated as the same, with firms not making any specific efforts to satisfy particular groups. This may work when the product is a standard one where one competitor really can’t offer much that another one can’t. Usually, this is the case only for commodities. In the concentratedstrategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors. For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low...
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...1. Would consider Demographic segmentation, because she just starting her own small business, which is a sole priority ship. Which is for people working as an entrepreneur as herself. So she would have base some of it off of who like chocolate and who doesn’t also she need to know which chocolate people would buy more often, and where should she open her business. So that was demographic segmentation is when you want to know things about your consumer to get there interest in what you’re doing and if the location is right for that. So when you’re starting your own business you have to do a lot of things before you can even see progress from it. So it takes over time before you’re business start’s going unless you brand with another business which will be a b2b because that can get you off your feet with this business as well. 2. A segment would be concerted strategy because it focus on one aspect which is pet supply store. So it’s targeting animal’s owner to come to a store that can have deals for them that they will enjoy for their animals. Because the customer is always right. It also fall into value proposition, which give the customer a good perspective on they want as I proclaimed. They can also now in days buy their product online and walk into the store. 3. Micromarketing is basically when you have a specific item that you want and you’re interested in the product. People have lots of reason to be specific maybe for special occasion or just have a great day by...
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...egmentation, Targeting, and Positioning Segmentation, targeting, and positioning together comprise a three stage process. We first (1) determine which kinds of customers exist, then (2) select which ones we are best off trying to serve and, finally, (3) implement our segmentation by optimizing our products/services for that segment andcommunicating that we have made the choice to distinguish ourselves that way. Segmentation involves finding out what kinds of consumers with different needs exist. In the auto market, for example, some consumers demand speed and performance, while others are much more concerned about roominess and safety. In general, it holds true that “You can’t be all things to all people,” and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable. Generically, there are three approaches to marketing. In the undifferentiatedstrategy, all consumers are treated as the same, with firms not making any specific efforts to satisfy particular groups. This may work when the product is a standard one where one competitor really can’t offer much that another one can’t. Usually, this is the case only for commodities. In the concentratedstrategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors. For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low...
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...Starbucks 1.Using the full spectrum of segmentation variables, describe how Starbucks initially segmented and targeted the coffee market.? 2. What changed first—the Starbucks customer or the Starbucks Experience? Explain your response by discussing the principles of market targeting.? 3. Based on the segmentation variables, how is Starbucks now segmenting and targeting the coffee market? 4. Will Starbucks ever return to the revenue and profit growth that it once enjoyed? Why or why not? - Starbucks had made a goal and their initially segment was a Demographic segmentation -Starbuck or Schultz intentions to open 10,000 new stores in just four years and then push Starbucks to 40,000 stores. -In 20 years time, Schultz grew the company to almost 17,000 stores in dozens of countries. Starbucks targeted the customer who fell in love with the Starbucks Experience who was: -Wealthier, better educated, and more professional than the average American. - More likely to be female than male. - Between the ages of 24 and 44. Starbucks customer changed first. There simply were not enough traditional customers around to fuel the kind of growth that Schultz sought. Starbucks became a less attractive place to hang out. The new breed of customer was less affluent, less educated, and less professional. As the customer profile evolved, the Starbucks Experience grew to mean something different. To the new breed of customer, it meant good coffee on the run. It was a place to meet and...
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...How to solve the limitations of the current system. Material handling equipment is about roles in moving, storage, and control of the goods. The categories of material handling are traditional and modern. 1. Traditional (i) Used human power (ii) Not value adding (iii) Minimize used of since it depend on the capabilities of the human to handle the risk 2. Modern (i) Used robotic system/ computerise system (ii) Adding value (iii) Maximize flexibility of used Detection systems and RFID-based automated material handling is now available and common to many of these industries are particularly flatbed conveyor. MHS based flatbed conveyor systems bring themselves to control complexity, additional storage equipment such as baskets and trays and additional user activity. The meat processing industry in the UK has refused to adopt the system because of the cost of installation if there is no commercial benefit in a financial decline through food fear accompanied by potential incompatibility between the issues of system reliability and the imposition of additional stress operator. Based on time constraints, the research has been conducted on the MHS can solve the limitations of the current system. Therefore, a consortium project called Meatract, was established to research and develop novel MHS automatically detect and track cuts in the boning...
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...Market Segmentation of Kwality Walls Cornetto HUL had entered the ice-cream market through acquisitions of approximately 150 crores. It acquired Dollops from Cadbury’s in 1993 while it bought Kwality and Milkfood in 1995. Since Amul has entered into the ice-cream market, Walls has lost a huge market share to Amul. To again gain the lost market share, HUL has modified their market segmentation. On the basis of Density, it has segmented Indian market into Urban and rural area. It has decided to focus only on the urban segment specifically the top 6 metros of India. Over the years, it has expanded to the top 30 cities. The philosophy behind this decision is that the top 30 cities has 70% of total ice-cream consumers in India, i.e. the 30:70 principle. Kwality walls just want to increase the consumption of ice-creams in the markets in which they are present rather than entering into new market. HUL has also segmented the market based on demographics into three categories: Kids, Teenagers and Families. Cornetto as a brand Is targeted at teenagers while Paddle pop is for kids while red tub is for families. This kind of segmentation has allowed to create more consumption opportunity for different segments. For e.g. teenage hangouts for promotion of Cornetto. This segmentation also allows pricing based differentiation for the three segments. Paddle pop is sold at Rs.5 to Rs. 10, Cornetto for youth is priced between Rs. 20 and Rs. 30 while the family pack ice-creams are priced between...
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...Segmentation, Targeting, and Positioning Segmentation, targeting, and positioning together comprise a three stage process. We first (1) determine which kinds of customers exist, then (2) select which ones we are best off trying to serve and, finally, (3) implement our segmentation by optimizing our products/services for that segment andcommunicating that we have made the choice to distinguish ourselves that way. Segmentation involves finding out what kinds of consumers with different needs exist. In the auto market, for example, some consumers demand speed and performance, while others are much more concerned about roominess and safety. In general, it holds true that “You can’t be all things to all people,” and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable. Generically, there are three approaches to marketing. In the undifferentiatedstrategy, all consumers are treated as the same, with firms not making any specific efforts to satisfy particular groups. This may work when the product is a standard one where one competitor really can’t offer much that another one can’t. Usually, this is the case only for commodities. In the concentratedstrategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors. For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low prices...
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...Oakland, CA 94601 IS535 - Managerial Applications of Information Technology Milestone 1 Refocusing Mission Tool & Mfg., Co. Dale Reynolds DeVry University Refocusing Mission Tool & Mfg., Co. 1. The Subject Mission Tool & Mfg., Co. (MTM) has an internal problem which I believe could be resolved by a propose solution. MTM can benefit with this proposition, as well as resolve its many financial issues that it’s facing with the bad economy and still trying to compete in the manufacturing business without spending an arm and a leg. MTM has an overall IT costs that are too high to be spent on while trying to gain profit and stay in the manufacturing competition. With this proposition MTM could also make employees work more users friendly and the company can gain independency by not being dependent to local company’s network. With this MTM can be more efficient by getting rid of all the paper work that is cluttering and hard to organize to be found by any employee or personnel that needs documents. 2. Company Background Mission Tool & Mfg., Co. Mission Tool is a business specializing in precision stamped and machined components. They have capabilities to suit every need, ranging from those of a start-up company through to the demands of a thriving corporation. The plant is located in Hayward, CA and is based on nearly 40 years of experience, Mission Tool utilizes the talents of a dedicated staff coupled with the latest in high-technology machining, stamping and...
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...Executive Summary Black & Decker had always been a market leader in the power tools industry. Many changes took place that helped out in the company in the short run, but hurt in the long run. In 2000 Black and Decker Corporation was still reeling from the financial and strategic problems stemming from the company's acquisition of Emhart Corporation in 1989. In late 1998 Black & Decker management celebrated the completion of an almost decade-long effort to divest nonstrategic business gained through its 1989 acquisition of Emhart Corporation and expected the company to enter a long-awaited period of growth as its entire management refocused its attention on its core power tools, plumbing, and security hardware business. Archibald believed that "This portfolio restructuring will allow us to focus on core operations that can deliver dependable and superior operating and financial results." However the portfolio restructuring did little to improve the market performance of the company's securities. Yet Archibald and the management continued to express confidence that the company's streamline portfolio would allow Black & Decker to achieve revenue and earnings growth that the market would find impressive. So far the 1998 divestitures have not produced steady increases in the company's stock price, but look promising for the future due to the efforts to refocus efforts on the successful power tools line. Strategic planning team evaluation Over the years, Black & Decker...
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...To: Chad Thomas Founder Chad's Creative Concepts From: Subject: Chad's Creative Concepts Date: Jan. 07, 2015 Chad's Creative Concepts is a small custom furniture manufacturing company that has earned a reputation for innovative designs and excellent quality by focusing production on specialty designed furniture. Chad's Creative Concepts has grown substantially and has caused significant problems between standardized furniture and specialty designed furniture production. The problems concern external operations and internal operations of manufacturing. Chad's Creative Concepts has to set priorities to schedule different orders. Orders for low running and high running furniture pieces are being accepted because sales have increased. Chad's Creative Concepts has not increased the amount of equipment or capacity needed to handle the business growth. Low running and high running furniture pieces are now competing for the same manufacturing capacity. Chad's Creative Concepts has to emphasize the importance of on time delivery and manufacturing costs. Low running furniture pieces and high running furniture piece have a different set of priorities. Sales and marketing have not considered the conflict between dedicating equipment to standardized pieces and specialty equipment for custom pieces. Producing standard furniture pieces has created significant growth for the company. The growth has also caused the cost of inventory and operational costs to increase...
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...For 85 years, the Williams Machine Tool Company had provided quality products to its clients, becoming the third largest U.S.-based machine tool company by 1990. The company was highly profitable and had an extremely low employee turnover rate. Pay and benefits were excellent. Between 1980 and 1990, the company’s profits soared to record levels. The company’s success was due to one product line of standard manufacturing machine tools. Williams spent most of its time and effort looking for ways to improve its bread-and-butter product line rather than to develop new products. The product line was so successful that companies were willing to modify their production lines around these machine tools rather than asking Williams for major modifications to the machine tools. By 1990, Williams Company was extremely complacent, expecting this phenomenal success with one product line to continue for 20 to 25 more years. The recession of the early 1990s forced management to realign their thinking. Cutbacks in production had decreased the demand for the standard machine tools. More and more customers were asking for either major modifications to the standard machine tools or a completely new product design. The marketplace was changing and senior management recognized that a new strategic focus was necessary. However, lower-level management and the work force, especially engineering, were strongly resisting a change. The employees, many of them with over 20 years of employment at Williams...
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...In this individual paper, we would like you to consider how you might use the tools from the Leading Teams course to develop your leadership skills over the coming year. This assignment has two goals: • Nudge you into practicing the tools and concepts discussed in class. • Launch your leadership development efforts now, at the beginning of the program. Assignment length: Because I want you to put the majority of your effort into "doing" and "thinking" (drawing lessons from the experience, deciding on next steps), we are going to keep the writing part short. 3 pages maximum, double spaced. Due date: Tuesday, September 2, 5 pm (via Turnitin on Blackboard) (Note the due date has been moved back by one day) Preparation: Step 1: Identify a leadership skill you would like to develop, and a tool or framework from the course that might help you to do so. For example, you might decide that you want to develop the emotional facet of your leadership, and will use one of the emotion management tools to do this. Step 2: Apply the tool or framework multiple times over the coming two-week period. • IMPORTANT: Get started now. The time investment can (and should) be short (a few minutes a day), but could not usefully be crammed into the last day. • Be creative. If you can think of a novel way to apply some of the course ideas, great. The important thing is that you do something. • Track what you are doing. Step 3: Reflect on what...
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...TABLE OF CONTENTS Situational Analysis 3 Alternatives 7 Decision Criteria 11 Action Plan 12 In 1910, Black & Decker was founded by two 23 year olds S. Duncan Black, and Alonzo G. Decker in Baltimore. 73 years after receiving its first patent, Black & Decker was the world’s largest producer of power tools, power tool accessories, electric lawn and garden tools, and residential security hardware. The brand has also made its successful foray into households with products such as the DustBuster, and Spacemaker amongst other things. The franchise also holds nearly 30% of market share overall in the US power tools market. With strong segment shares in the professional industrial and consumer market at...
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