| [pic] | |10850 Marketing 100 Summer 2012-2013 | |SA/TM ID Report Cover Sheet | Name: WENDY
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Topic: Pfizer’s approach to segmentation using Lipitor as an example. What is market Segmentation? Segmentation is a process of processing a large homogenous market into clearly defined identifiable segments with a main aim of designing a marketing mix to match target customers expectations. The basic factors that affect market segmentation are: [1] a) Clear identification of segment b) Determining the effective size of segment c) Promotion of the product to segments
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market segmentation identification over time? Market segmentation is the process of placing the buyers in a product-market into subgroups so that the members of each segment display similar responsiveness to a particular positioning strategy (Cravens & Piercy, 2006). Once the companies had identified the market segmentation, the marketing effort should focus on the segment of interest and not be wasted on non-segment buyers. However, the companies need to change their market segmentation over time
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Lecture 4,5 Limkokwing Univrsity of Creative Technology Faculty of Design and innovation By; Maziar Mohajeri STP refers to the three activities segmentation, targeting, and positioning Enhancing a company’s competitive position by providing direction and focus for marketing strategies ; ▪ targeted advertising, ▪ new product development, and ▪ brand differentiation. Examining and identifying growth opportunities in the market through the identification of new customers
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Marketing Mix of Walmart Walmart ranks no.1 in the fortune 500 list for the second consecutive year with a revenue of 421,849.0 Million USD and made a profit of 16,389 Million USD during the FY2011. It was founded in the year 1962 by Sam Walton. Product Walmart is a multinational retailer; in short it has every product or a brand which a person could see in his day to day life. The broad range of product categories include movies, crafts, gifts, college essentials, Electronic items, home
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MARKETING PRINCIPLES Table of Contents “The Concept and process of marketing” 3 1.1 VARIOUS ELEMENTS OF MARKETING PROCESS: 3 1.2 EVALUATE THE BENEFITS AND COSTS OF A MARKETING ORIENTATION FOR A SELECTED ORGANIZATION: 4 TASK 2: 5 REPORT on “The Concept of Segmentation, targeting and positioning” 6 2.1 Macro and Micro environment Factors Which Influence Marketing Decisions 6 2.2 Segmentation Criteria to be used for Products in different Markets 8 2.3 TARGETING STRATEGY FOR A SELECTED
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environment 3.4 The technological environment 3.5 Changes in marketing infrastructure and practices 3.6 New strategies for changing macroenvironments 3.7 The Five Forces model of industry competition 3.8 The product life cycle 3.9 Strategic groups 3.10 Industry evolution and forecasting 3.11 Environmental stability 3.12 SPACE analysis 3.13 The Advantage Matrix Summary Case study: Food group shifts strategy to volume growth PART1 MARKETING STRATEGY CHAPTER 1 MARKET-LED STRATEGIC MANAGEMENT Puma
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5.0 MARKETIG COMMUNICATION PROMOTIONAL The marketing mix reflects how the plan is put into action. Defined as '' the mixture of controllable marketing variables that the firm uses to pursue the sought level of sale in the target market'.(Kotler 1984, as cited in Middleton 1994, p.63.) or other management objectives, these elements reflects the practical decisions that must be made when matching organizational objectives with consumers' needs and wants to the produces or services provided. (Victor
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A deep understanding of products and the services they provide for a consumer is what keeps business alive according to (Ravald & Grönroos, 1996). The core product of any service/ industry/ organization must have essential benefits as well as enhanced benefits to stay ahead of the market (Marshall & Johnston, 2011). With Starbucks the core product is coffee, for Ford is is cars and trucks, for LongHorn Steakhouse it is steak. This core product have to have the best quality and value to compete in
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To create an appropriate marketing mix to appeal to customers in the market. There are different types of markets for example: Business-to-Business (B2B) markets in which a businesses customers are other businesses. Business to Consumer (B2C) markets in which businesses sell to other customers. . Markets are typically structured into segments. Primary segmentation is between customers buying entirely different products. [2]. Contribution of marketing to achievement of its business
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