Posted by admin on 2009年5月31日 under Advertisement | 
Bud Selig and MLB Playoff Expansion Is a Perfect Match
Realignment is a fascinating idea, but one that I believe will lose out to another adjustment: playoff expansion. Expansion will drive more revenue to the game and keep the fans enthralled for an extended period. Realignment is entertaining when you think about it. Then again, an extended playoff system seems more justifiable at this point. Extending the playoffs with a wild card team worked …
Read more on Bleacher Report
Businesses seek ways to tap Muslim market
NEW BRUNSWICK, N.J. — At an upscale hotel a short train ride from New York, advertisers, food industry executives, and market researchers mingled — the men in dark suits, the women in headscarves and Western dress. Chocolates made according to Islamic dietary laws were at each table.
Read more on Boston Globe
Muslim product interest growing
In the ballroom of an upscale hotel a short train ride from New York, advertisers, food industry executives and market researchers mingled – the men in dark suits, the women in headscarves and Western dress. Chocolates…
Read more on San Francisco Chronicle
Posted by admin on 2009年5月25日 under Advertisement |
US Muslims: a new consumer niche
In the ballroom of an upscale hotel a short train ride from New York, advertisers, food industry executives and market researchers mingled – the men in dark suits, the women in headscarves and Western dress. Chocolates made…
Read more on ABC 6 Providence
Village to discuss new clerk’s qualifications
By Mary Drier Staff Writer FAIRGROVE — The Fairgrove Village Council’s Administrative Committee will meet 7:30 p.m. at the village hall to outline qualifications they would like the next village clerk to have. The position is open because, …
Read more on Tuscola County Advertiser
Beware the festive rat traps
IT WASN’T quite Shane MacGowan’s Christmas in the drunk tank from Fairytale of New York.
Read more on Straight Furrow
Posted by admin on 2009年5月20日 under Market Segmentation |
Before we go into look at the ways in which market segmentation contributes to the success of any business it is vital to understand what market segmentation is in the first place.
What is Market Segmentation?
Market segmentation could be defined as the process of dividing the market in to different homogeneous groups of consumers who have similar interests. In other words, it could also be defined as a strategy that involves dividing the market into various subsets of consumers who have common needs and interests regarding the goods and services offered. This is because by splitting the market into various segments it is possible for an organization to offer their marketing mix for specific target markets instead of offering the same marketing mix for the entire market which comprise of vastly different customers. To say, once an organization has identified their specific market segments/s they are able to decide on the marketing mix to the specific group of consumers which will enable them to better satisfy the needs of the customers.
Having said that, it is not just enough splitting the market into various segments, but the identified segments should have certain requirements meaning to say that they should be,
Measurable ( how many consumers are there, how much do they have to spend and where are they ). Accessible by communication and distribution channels ( segments can be reached and served ) Different in its response to a marketing mix Not changing too quickly Sustainable enough to be profitable
By the way, if any of the identified subsets of consumers lack the above requirements, than it is unlikely that the organizations may get a successful outcome.
What are the bases for Market Segmentation?
Market segmentation could be carried out for both the consumer markets as well as for industrial markets. In other words, both the consumer and the industrial markets could be divided into subsets of consumers on the following basses.
Consumer market segmentation
Geographic segmentation - This means that the consumers in the market could be segmented or divided according to the region( by continent, country, state or even the neighbourhood they belong to ), according to the population, according to urban, suburban and rural areas, and also according to the weather patterns unique to certain geographic areas.
Demographic segmentation – This basically means that the consumers are segmented according to the demographic variables such as age, gender, family lifecycle( bachelor, married with children, married without children etc), income, occupation, education, nationality, religion, social class. ethnicity etc.
Psychographic segmentation – This is when the market is segmented according to the life styles of the consumers. Some of the psychographic variables used in segmenting include activities, interests, attitudes, opinions and values of the consumers.
Behaviouristic segmentation – When it comes to behaviouristic segmentation, this is based on the actual behaviour of the consumers towards the product. Some of the behaviouristic variables used in segmenting are benefits sought, usage rate, brand loyalty, user status( first time buyer, regular buyer etc), readiness to buy, and occasions etc.
Industrial Market Segmentation
When it comes to industrial markets, usually the customers in there markets are rather fewer in number when compared with the consumer markets. But however, these customers basically look for more information with regard to purchasing goods and services while the decisions taken by them involves more than one person. For example, these include manufactures, service providers, resellers and institutions etc. To say, the industrial markets too could be segmented using the bases of the consumer market, but is addition there are some other variable bases used in segmenting the industrial customers. These include,
Location - The business customers could be segmented according their location as this is an important factor to consider at times, mainly when shipping costs are concerned.
Company type – The business customers can even be segmented according to the company size, industry , decision making unit, etc.
Behavioural characteristics – The industrial customers can also be segmented according to the patterns of purchase behaviour such as usage rate, buying status ( regular, first time buyer etc), or even the purchase procedure ( sealed bids, negotiations etc).
Reasons for Segmenting the market
Having looked at some of the bases in which the markets are segmented upon , it is important to know why market segmentation is important in the first place. In other words, let us look at some of the reasons why organizations consider segmenting the market.
One of the many reasons why organizations segment their markets is because it helps to understand the needs and wants of the customers better. In other words, by dividing the market into various subsets of consumers basically provides and insight to what type of consumers do require what goods and services.
Another reason for segmenting the market is to help better target and position the products of the organization to the exact people who are willing to buy the products or services, rather than trying to try and sell to the entire market. In other words, they are able to target the customers who they are able to satisfy using the proper marketing mix.
Market segmentation do paves way for a two way communication between the organization and potential buyer.
Market segmentation basically plays an important part in help maintaining an effective relationship with the customers. To say, because of segmenting the market into various subdivisions, the organizations get to produce goods and services to their selected targets thus satisfying them to their best possible capabilities which on the other hand eventually paves way for a effective long term relationship.
Another reason why organizations tend to segment the market is due to the fact that it helps to retain their existing consumers while attracting new customers. In other words, because of segmentation, the organizations are able to provide the customers with value for money thus satisfying them through continuous improvement. As a result, this not only helps to retain the existing customers but also attracts new customers.
Resources are very limited and it is indeed vital to get the maximum use of the resources available to the organization. As a result, segmenting the market also provides a vital part when it comes to better use of the available resources. To say, this is because once the market is segmented then the organizations are able to use their resources to produce goods and services for their selected targets in order to satisfy their needs.
Market segmentation also helps to reduce the cost or expenses with regard to various marketing activities and the production itself. By producing exactly what the consumers are willing to buy it basically reduces wastage and also the costs related with advertising and promotion. Not only that but also paves way to increase the market share which will eventually increase profits.
Conclusion
It should be said that market segmentation is one of the important strategies that provides an organization with competitive advantage. However, in spite of one or two disadvantages such as not concentrating on the entire market at large but dividing the market into small subgroups of consumers, market segmentation contributes to the success of the organizations in many ways such as helping to better understand the consumer needs and wants, better target and position the products, to retain existing customers and win new customers, maintains effective relationships with the customers, reduce costs and expenses, increase market share and profits and better use of resources etc. Hence so, if the organizations are to face the turbulent, ever changing competitive environment then they obviously have to segment the market before hand, whether it may be consumer or industrial.
Shameena Silva
Bachelor of Hospitality Management(Australia), MBA (U.K.)
shameena_silva@yahoo.co.uk
Article from articlesbase.com
Posted by admin on 2009年5月16日 under Advertisement |
Gaining agility in year of the Rabbit
Here are nine fortune cookies to make a difference
Read more on The Nation – Thailand’s English news
Businesses seek ways to tap Muslim market
NEW BRUNSWICK, N.J. — At an upscale hotel a short train ride from New York, advertisers, food industry executives, and market researchers mingled — the men in dark suits, the women in headscarves and Western dress. Chocolates made according to Islamic dietary laws were at each table.
Read more on Boston Globe
Nuvo Liqueur Uses Glamour to Appeal to Women
A blend of French vodka, white wine and fruit nectar packaged in a pink bottle and promoted as “the ultimate accessory” for women has also become popular with men.
Read more on New York Times
Posted by admin on 2009年5月15日 under Article Submit |
Many people resort to submission of free articles to web directories with the aim of gaining recognition for the site and to generate good will and confidence of the viewers. Leading Web Directories on the web already have the confidence of the viewers and such confidence will transmit to them on their assessment of your site when they arrive there through such genuine web directories. Because you come through such genuine directories it gives the impression to the viewers that your site is genuine and authentic.
It is therefore quite useful and good that your submit articles to such genuine and qualitative web directories on the nets. Most of the website owners will like to publish some introductory articles relating to their sites on the web so as to gain recognition. However submitting them on such huge number of directories on the web could be one of the most daunting and time consuming tasks they face. A better option would be availing the assistance from some highly professional, and excellent, directory submission services on the web. With their vast experience and knowledge of the tricks of the trade they can achieve your objective with much ease and convenience in comparison.
More than two hundred directories are present on the nets. When you submit free articles in those web directories, each one does not give you the same result. In fact submission to inferior quality directories at times may even back fire with viewers not having faith on the quality and authenticity of the website considering your site to be similar in nature. This is another area that is taken care amply by the quality directory submission services and agencies that find out the genuine and quality web directories and submit your free articles quite effortlessly there.
When you submit articles to web directories, a couple of options are there for you. One of them is submitting articles manually to directories and the other is bulk submission using the link websites. Plenty of them are available on the web. Advantages of manual submission are that the reviews are carried out by a real human editor and not by some automated software. Convincing human editors about the quality and authenticity of the articles submitted is more difficult in comparison to the software reviews. At the same time such directories are given more weight by the search engines on the web. In this way manual submission could easily get you the desired recognition on the web through article submission. Especially when the website concerned contains a lot of graphics; manual submission becomes even more important making the crawlers realize about your existence on the web. Search engine will then classify your website under a specific category and your presence is recognized by maximum people on the web.
Whether it is manual submission of free articles or automated submission using some software, the website at articlealley.com could help you find the real and quality article submission services on the web where you can submit articles for maximum advantage in respect of your website promotion and product and services promotin online.
Article from articlesbase.com
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Posted by admin on 2009年5月10日 under Advertisement |
Town called on to throw book at phone directory publishers
Two groups — both focused on reducing litter in Greenwich — are calling on the town to throw the book at telephone directory publishers. “They’re the best weathermen.
Read more on Stamford Advocate
Town called on to throw book at phone directory publishers
Two groups — both focused on reducing litter in Greenwich — are calling on the town to throw the book at telephone directory publishers. “They’re the best weathermen.
Read more on Greenwich Time
Two Los Angeles men sentenced for selling phony Comic-Con tickets
Farhad Lame, 24, pleaded guilty today to theft. Co-defendant Navid Vatankhahan, also 24, pleaded guilty to the same charge last week in San Diego Superior Court.
Read more on Southwest Riverside News Network