Advertisement International Market Segmentation. International market segmentation refers to process of dividing the world market into distinct subsets customers who behave in the same way or have similar needs. The segments must be large enough to permit viable mar effort directed towards them. Accessibility to the segments could...
Market Oriented Appraisal: Before the production actually starts, the entrepreneur needs to anticipate the possible market for the product. He has to anticipate who will be the possible customers for his product & where & when his product will be sold.. The survival of any...
1.Heterogeneous 2.Measurable 3.Availability of data 4.Substantial 5.Easily accessible 6.Responsive 7.Availability of resources
A. Geographic segmentation 1. Region 2. Urban/Rural/Semi urban B. Demographic segmentation Demography is the study of the variables of population such as age composition, gender, education and so on. 1. Age 2. Gender 3. Family life cycle 4. Family size...
William Stanton defines it as “the process of dividing the total heterogeneous market for a product into several sub markets or segments, each of which tends to be homogeneous in all significant aspects”. FEATURES OF MARKET SEGMENTATION 1. Heterogeneous market 2. Involves market division . 3. Different bases...
1. Consumer oriented. 2. Optimum use of resources 3. Develops marketing plan 4. Designing products 5. Pricing the product 6. Effective advertising 7. Distribution strategies 8. Brings about progress and awareness 9. Achieving marketing objectives
1. Unpredictable consumer behaviour 2. Fragmentation 3. Time consuming 4. Costly 5. Dynamic environment 6. Too complex 7. Lack of availability of data 8. Incorrect inferences
Market Opportunity Analysis is a prime tool to determine attractiveness and probability of success in the growing market. IMPORTANCE 1. Knowing potential demand- 2. Developing product-. 3. Finalising price 4. Delighting customers 5. Selecting promotional tools- 6. Analysing competitors’ strategies. 7. Finding legal requirements-. 8. Deciding on...
The term strategy is frequently used in retailing. For example, retailers talk about their merchandise strategy, promotion strategy, location strategy, and private-brand strategy. Retail strategy isn’t just another expression for retail management. Definition of Retail Market Strategy A retail strategy is a statement identifying- 1) The retailer’s target...
MNC’s face a lot of problem related to pricing for their products abroad. They must deal with price escalation, transfer prices, dumping charges and gray markets. The Co’s however can adopt different pricing strategies such as:- Setting a uniform price everywhere. Set a market based price...
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