Posted: December 2nd, 2013
Buyer’s Behavior
Assignment 5 Buyer’s Behavior
One of the most common mistakes companies make in developing a marketing strategy is that the perception they have that their product can be everything to everyone. Organizations cannot connect with all customers in large, broad, or diverse markets. As a result, they can divide such markets into groups of consumers or segments with distinct needs and wants. An organization can then identify which market segments it can serve most effectively. This decision requires a strong understanding of consumer behavior and careful strategic thinking.
One of the most common mistakes companies make in developing a marketing strategy is that the perception they have that their product can be everything to everyone. Organizations cannot connect with all customers in large, broad, or diverse markets. As a result, they can divide such markets into groups of consumers or segments with distinct needs and wants. An organization can then identify which market segments it can serve most effectively. This decision requires a strong understanding of consumer behavior and careful strategic thinking.
Main Task: Apply Segmentation Strategies for an Italian Restaurant looking to relocate
The purpose of Activity 5 is to give you an opportunity to use segmentation strategies with your selected organization’s product or product line. To develop the best marketing plans, marketing and all managers need to understand what makes each segment unique and different.
Effective target marketing requires that marketing professionals:
a) Identify and profile distinct groups of buyers who differ in their needs and wants (market segmentation).This can be done by carefully analyzing and understand the group demographics.
b) Select one or more market segments to enter (market targeting). FAMILIES WITH CHILDREN
c) For each target market, establish and communicate the distinctive benefit(s) of the organization’s product or product line market offering (market positioning). NEW LOCATION
b) Select one or more market segments to enter (market targeting). FAMILIES WITH CHILDREN
c) For each target market, establish and communicate the distinctive benefit(s) of the organization’s product or product line market offering (market positioning). NEW LOCATION
Buyer’s Behavior
Identify and assess the segmentation strategies that are used in your chosen organization in a paper.
Identify and assess the segmentation strategies that are used in your chosen organization in a paper.
The questions to be addressed in your paper are:
– What segmentation strategies are used?
– Which research instruments do you think are used to help guide strategy planning?
– How accurate and reliable are the survey instruments?
– What market segments are associated with your organization?
– What are the specific characteristics of each segment?
– What recommendations do you have for alternative approaches that align to the organizational objectives?
– Which research instruments do you think are used to help guide strategy planning?
– How accurate and reliable are the survey instruments?
– What market segments are associated with your organization?
– What are the specific characteristics of each segment?
– What recommendations do you have for alternative approaches that align to the organizational objectives?
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