Market Segmentation Essay Example for Free

Market Segmentation Essay An organization cannot satisfy all the needs and wants of all the consumers. Therefore, Market is divided into different segments so an organization can focus on the needs and wants of the specific consumers who share similar needs and demonstrate similar buyer behavior. In the world, there are different types of buyers with their own needs and behavior. Segmentation is the process to match groups of the purchasers with same needs and wants. Market segmentation: The division of a market into different groups or the process of splitting customers in a market into different groups or segments, within which customers show similar buying behavior and share a similar level of interest in the same set of needs and wants satisfied by a marketer is called Market segmentation. Reasons for segmentation of market: The reason for segmenting a market is to allow your marketing program to focus only on the segment that is most likely to buy your offering. Market segmentation makes possible how to use marketing mix for different target markets. A company is then able to determine which groups of customers are best suited to serve and which product and service offers will meet the needs of the customers and will satisfy them. Therefore, the main objective of segmentation must be how to win and retain the customers you want to serve. If the segmentation process is done properly then it will insure the maximum return for your marketing and sales expenditures, depending on what you are selling and whether you are selling your offerings to individual consumers or a business. Levels of Market Segmentation †¢Segment Marketing †¢Individual Marketing †¢Niche Marketing †¢Local Marketing Segment Marketing: Dividing the market into different segments on the basis of homogenous need. Segmented on basis of broad similarity with regard to some attributes. Segmentation is also sometimes identifying, capturing retaining potential new markets. Individual Marketing: Extreme marketing in which marketers focus on individual customers. Keep track of individual tastes preferences of individual customers. Many companies are approaching individuals through e-mails to promote their products. Niche Marketing: Marketer’s effort to position their product or service in smaller markets that have similar attributes and have been neglected by other marketer. Segment further divided into sub segments to cater unsatisfied needs of small group is called as niche. Local Marketing: Marketers offer customized products to suit the local markets. McDonalds introduced â€Å"Muslimized† or â€Å"Arabic† products such as Big Mac, Halal Chicken, Mac Arabia, and more†¦ Variables to Segment the Market: There are a number of segmentation variables that allow an organization to divide their market into homogenous groups. These variables will be discussed briefly below: †¢Geographic †¢Demographic †¢Psychographic †¢Behavioral Geographic segmentation It is based on regional variables such as region, climate, population density, and population growth rate. Geographic segmentation divides markets into different geographical areas. Marketers use geographic segmentation because consumers in different parts of world vary in characteristics and behaviors. An area can be divided by the town, the region or the country. If you are an organization working on a global scale you may divide by global regions such as Europe, North America, South America, Asia and Africa. Example: McDonalds globally, sell burgers aimed at local markets, for example, They also offer vegetable burgers in India due to lots of vegetarians and burgers are made from lamb in India rather than beef because of religious issues also. In Mexico more chili sauce is added and so on. In Muslim countries halal food is offered. In Arabic countries Arabic food is offered like Mc Arabia. Demographic Segmentation It is based on variables such as age, gender, ethnicity, education, occupation, income, and family status. Demographics originate from the word ‘demography’ which means a ‘study of population’. The population can be divided into age, gender, income, and family lifecycle amongst other variables. As people age their needs and wants change, some organizations develop specific products aimed at particular age groups. Gender segmentation is commonly used within the cosmetics, clothing and magazine industry. Income segmentation is another strategy used by many organizations Products and services are also aimed at different lifecycle segments. Examples: ïÆ'ËœFor different age groups: Nappies for babies, toys for children, clothes for teenagers and so on. Introduction of Maxim, (www.maxim-magazine.co.uk)A male lifestyle magazine covering male fashion, films, cars, sports and technology. Psychographic Segmentation: oIt is based on variables such as values, attitudes, opinions, interests, personality and lifestyle. oIt is used highly in the hospitality industry oVALS (Values And Lifestyles) Principle Oriented- principles or beliefs rather than feelings, events, or desire for approval. Status Oriented- status or other people’s actions, approval, or opinions. ï‚ §Action Oriented- action prompted by a desire for social or physical activity, variety, and risk taking. Behavioral Segmentation: It is based on variables such as usage rate and patterns, price sensitivity, brand loyalty, and benefits sought. It refers to why people purchase a product or service. How will the product enhance their overall lifestyle? Occasion is another variable. When should a product be purchased? Occasion segmentation aims to increase the ‘reason to buy factor’ and thus increase sales. Usage rate divides customers into light, medium and heavy users. Heavy users obviously contribute more to turnover then light or medium users, the objective of an organization should be to attract heavy users who will make a greater contribution to company sales. It is based on benefits people seek when buying a product. It is based on Total satisfaction from a service rather than individual benefits. Examples: When someone is going out to dinner McDonalds and local restaurant will not come in the same breathe for choices of where to go. When purchasing a computer the benefit sought will be of ‘ease of use’. ïÆ'ËœThe demand for turkeys increases during Christmas, flowers and chocolates on mother’s day and so on.

Free College Admissions Essays: A Rare Encounter :: College Admissions Essays

A Rare Encounter    Very rarely in life does one encounter an individual who impacts you in such a way that they not only become ingrained in memory, but also shape the type of person you want to become. For me, Mrs. Peggy Jeens was one of these very special and unforgettable people.    Although I only had the pleasure of knowing Mrs. Jeens for two of my high school years, she affected me in ways far beyond the educational scope. Through her teaching, she showed me what true happiness and satisfaction were. How else could anyone teach for so long and still begin each day with a smile? With exciting and thought-captivating lessons, Mrs. Jeens managed not only to pass the information along to her students, but also make them enjoy learning in such a way that they looked forward to her class every day.    Outstanding teaching abilities, although essential, are not the only characteristics of an unforgettable teacher. In order for a teacher to have that unexplainable spark, you must know them outside of the context of school and have the opportunity to see their true personalities. I was most definitely able to do this with Mrs. Jeens by accompanying her on trips to Italy, Greece, Spain, and Morocco. During these week-long trips, I was able to get to know Mrs. Jeens in a way that most students cannot. I learned that she was an incredibly generous and fun-loving individual who made each trip an exciting adventure for her students. Even though we did not always encounter the best of circumstances, Mrs. Jeens always managed to take the worst situations and make them bright.    Although I learned many things from my association with Mrs. Peggy Jeens, the one I value above all is the ability to be happy with whatever life throws at you. Mrs. Jeens always emanated a happiness that infected everyone around her through her smiles, kind words, and loving nature. It is my personal belief that the most important thing in life is to be happy, as if you are happy, you are content with your life and want for nothing.

Assess the Importance of Employability

Assess the importance of employability, and personal skills in the recruitment and retention of staff in a selected organisation. Introduction In this task, I’m a going to talk about the importance Importance of employability is to refer a person’s capability for gaining and maintaining employment. For personalities, employability depends on the knowledge, skills and abilities they possess, the way they present those assets to employers, and the context e. g. ersonal conditions and labour market environment within which they seek work. As such employability is affected by both supply side and demand side factors which are often outside of an individual's control. This will make Burger King Employment much better by giving out these particular things. Suitable qualifications: Knowledge and skills that a candidate must have to be eligible for the job. Burger king will require candidates to have good qualifications, so they’re can upper come the duties and position at the job.Certain qualifications such as GCSE, degrees, diploma and training courses having the ability to speak another language terms that would otherwise be interpreted broadly. They don’t have a suitable qualification to work at burger king because it isn't really important to the company just that they need to have Maths and English. Without these qualification employers cannot employ Experience in a similar role: All candidates must have an experience in another fast food retailer E. g. Mac Donald's, so that burger king can know if that person is good enough for the job.They must have experience in a similar role to what they did in Mac Donald's, dealing with customers keeping the cooking area clean. (Asses) Knowledge of products/services: Burger King Employers must have knowledge of the products, because that can mean more sales. It will be difficult to sell to consumers if Burger King couldn’t show how a particular product would address to a customer needs. So Burger King Employers will need to have good communication skills, having an understanding of the products to use different techniques and methods for presenting the product to customers. (Asses)

Julius Caesar Essay Decision Making in Julius Caesar

Decision Making in Julius Caesar nbsp; Making the right decisions is an ongoing struggle for man, because making decisions is never easy, and the wrong decision can lead to endless perils. Decisions must be made when dealing with power, loyalty, and trust. Yet, unlike other decisions, ones that are about these three fields are the most important, due to the risk involved, and because of the consequences that might follow. nbsp; Power- power is the complete domination of others, and since all men want to dominate those around them, power is valued as one of the most important possessions. Power is highly sought after, thus the correct decisions must be made to obtain it, and this is clearly proven by Shakespeares Julius†¦show more content†¦This is because of his quest for power, it blocks his normal thought process, and sense of reasoning, causing him to make irrational decisions. The two characters with the most power, Brutus and Caesar, do not make very wise decisions, and that is why neither of them survive. Loyalty goes hand-in-hand with power, and one that has trouble balancing his power is sure to have problems with loyalty. nbsp; Loyalty is one of the feelings that is used the most in Shakespeares Julius Caesar, this is shown by the numerous people that are loyal to either Caesar or Brutus. Having followers that are 100 percent loyal is imperative. When Caesar says Do this, it is performed. Caesars decision to recognize Antonys loyalty is very wise, since it will be Antony who eventually avenges Caesars death. People can change who they are loyal to in a brief instant. Live, Brutus, live, live! The citizens of Rome are angry with Brutus for killing Caesar, but after a short speech they have forgotten about Caesar, and are now praising Brutus. Brutus decision to let Antony speak last is a costly one, he should have realized how vulnerable the crowd is, and that they are easily influenced. Loyalty must be kept on the correct level for it to be useful. Good night, my lord. Cassius shows loyalty to Brutus, yet unlike Antony he does not take his loyalty to extremes. Loyalty must be kept on anShow MoreRelatedThe Tr agic Hero Of Julius Caesar By William Shakespeare1241 Words   |  5 PagesTragic Hero Essay A tragic hero is a main character that is usually of noble birth, suffers a catastrophe, and has a tragic flaw during his or her role in a novel or play. In The Tragedy of Julius Caesar by William Shakespeare, Marcus Brutus is the tragic hero. 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