1st do market segmentation, 2nd come up with targeting strategies. Targeting refers to each distinctive market segment having its own specific Marketing Mix.
Posts published in October 2022
Design Thinking is a concept that can help us to improve any product, process or experience. The process of solving problems by doing creating multiple outcomes.
This article is about psychographic market segmentation. Psychographic factors include lifestyle, hobbies and interests, values and attitudes, social status, culture and personality.
This article is about behavioral market segmentation. Behavioral factors include outlet type, occasions, usage loyalty and benefits sought.
Demographic market segmentation includes age, gender, race and ethnicity, marital status, family size, occupation, income, language and religion.
Geographic market segmentation divides the market into different geographical units. Geographic factors include location, climate and population density.
Between 2010 and 2016, I used to live in five different apartments. I am writing about my personal experiences from renting apartments in Beijing, China.
There is no one correct method to segment a market into smaller pieces. The key task is to find the variable that splits the market into actionable segments.
A consumer profile is a descriptive picture of a typical consumer of the firm’s products in a specific market segment. A picture of the typical consumer.
The whole market consists customers with different preferences. Market segmentation helps to discover people with similar characteristics.
You have already got to know me so well to realize that I do not really follow fashion trends. I use my products until worn out!
This article includes introduction to economic growth. It explains different ways of measuring economic growth and causes of growth.
Marketing strategies evolve over time to go along with market changes, changes in customer preferences and changes inside the business organization.
Any marketing strategy of a business organization needs to be cohesive and integrated. Having a cohesive marketing strategy is important.
You do not have to live a simple life, but you may prefer to do live your life that way. Simple living is your personal choice.
Each of the 4Ps of the Marketing Mix - Product, Price, Place and Promotion is of equal importance as it influences customers’ decisions.