Marketing Assignment Help For Superb Grades

Marketing Assignment Help For Superb Grades

Marketing is a study of business and customer relationship. It deals with concepts and strategies that help companies market their products their products to customers.

It’s hugely popular area of studies and scores of students enroll for this course every year. This makes this course extremely competitive. So, in a way, it’s always considered good to outsource your assignments so that you could focus more on studying the subject, rather than focusing all your energy in writing assignments.

We are the leading service provider of marketing assignment help in Australia region and beyond. The company has hired a host of highly qualified professionals, including professors, to write your assignments. So, if you are finding it hard to write your assignments, outsource it to us. We will do full justice to your assignments.

We have dealt with different marketing subjects and this includes 5 C’s of marketing – company, customers, collaborators, competitors, and climate, trends, distribution channel, Brand Equity, Pricing Strategy, 4P’s of Marketing and more. These are just a few of the most popular topics from the wide ocean of topics we have written so far.

Winning Features of Marketing Assignment Help

Our services are available 24/7 and are the most affordable services online. Moreover, we even offer customized services to our students on the basis of their suggestion. What’s more, we even offer endless revisions services that too at no additional cost, on top of it, our services are 100% original. There would be no issue of duplicate or fake content. Each piece of content is thoroughly proofread and checked. And before we forget, we stick to our deadlines, come what may.

Students from Sydney, Brisbane, Melbourne, Adelaide, Canberra, and Perth universities are sure to vouch for our services.

Presently, we offer customized marketing assignment help services in the following areas: business assignment writing, research paper writing service, college admission essay writing service, university assignment writing services, term paper writing service, dissertation writing help, thesis writing services, case study writing services, and custom coursework writing help. Wait, there’s more. Apart from professional essay writing services, we also offer professional homework help, and Exam Prep Assignments Help.

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Marketing Assignment Help Online | Marketing Homework Help

Marketing is the trail of activities of a company associated with buying and selling of a product or service. In simple words, marketing is what you say, how you present your products and state the reasons to the target market why they should buy it. Management students are often instructed to present marketing concept based assignments. But to produce the writing, they first need to know the fundamentals of marketing. Our experts can provide the students the much needed marketing assignment help and marketing essay writing help. These experts can further provide management assignment help, especially business management assignment help. Students can also take marketing homework help from them.

Importance of marketing

Our marketing assignment help experts suggest that building a successful business depends on how you persuade significant numbers of customers to select the company’s products or services. These marketing assignment help experts also mention that developing terrific products and putting together a supremely talented sales team are necessary, but the key to success lies in marketing that covers advertising, public relations, promotions and sales.

Get marketing assignment help or marketing essay writing help to explore marketing that says managing the marketing plans efficiently can bring sales success. Our marketing assignment help experts explain how marketing is important for your business.

• Developing strategic vision

One of the important functions of marketing is to search constantly for new ways to grow the company’s revenues. The term strategic vision as described by our marketing assignment help experts means finding new opportunities and creating strategies for the company to take advantage of them. Our marketing essay writing help and marketing essay writing help illustrate the details.

• Creating brand name

Our marketing assignment help experts highlight the fact that when customers decide to buy a product, they first gather basic information about the brand like brand name, the product and the necessary information about the company. Advertising method is therefore used to make the potential customers aware of what the company has to offer. With customer awareness, repetition is part of creating brand image.

• Expressing competitive advantage

According to our marketing assignment help experts, marketing allows communicating strategies in order to position the company as superior to its competitors. Marketing strategies are used to showcase specific reasons to customers why they should buy its products and services. Marketing essay writing help outlines various marketing strategies included in marketing assignment help.

• Making goodwill

Our marketing assignment help experts also agree with the fact that companies enforce marketing strategies to build an image of being a good corporate citizen. Marketing assignment help or marketing essay writing help throws light on publicizing the corporate social activities is one of the ways to make the corporation look good in front of the corporate world as well as the consumers. In order to carry out charitable activities, the company tries to find a community, regional or national events where they can get electronic and print media exposure.

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• Attracting talent

According to our marketing assignment help experts, marketing strategies are also utilized to attract the talent available in order to expand the company. The company aims to present a lucrative image of the organization, making employees think that it is a good place to work for several reasons. Marketing strategies also take care of the fact that the company is under the consideration of business awards. Get more details with our marketing essay writing help and place marketing assignment help order.

• Informing investment community

Our marketing assignment help experts inform that marketing strategies are used to inform about the milestones reached such as sales or profits reaching a certain threshold. Announcing major accomplishments such as joint ventures, acquisitions or introductions of new products is also part of marketing plan. These news releases about the success of the company alert the investment community and lead to increased interest in the company’s stock. Try our marketing assignment help or marketing essay writing help samples.

Types of market structure

The marketing assignment help experts define the various types of market structure below:

1. Perfect Competition

It allows many firms. There is freedom to enter the market. The various organizations sell homogeneous products and expect normal profits.

2. Monopoly

Market is dominated by one firm. There are barriers, preventing entry of other companies. The one that controls the market possibly gains supernormal profit.

3. Oligopoly

Market is controlled by few firms such as five firms with concentration ratio of more than 50 percent.

4. Monopolistic Competition

This type of market allows freedom to enter and exit. But it is notable here that firms have different products and expect normal profits in the long term.

5. Contestable Market

It also grants the freedom of entry and exit. The theory of contestability applies to this type of market. The theory suggests that the number of firms is not important here; instead the threat of competition is the main lookout.

A lot of information on marketing categories can be found from our marketing assignment experts and marketing essay writing help samples. They are capable of providing marketing assignment help and marketing essay writing help that improve your score.

Core concepts in marketing

The marketing assignment help experts describe the core concepts of marketing that decide how the marketing strategies are formulated. These concepts are inter-related with each other; however in case of difficulty, opt for marketing essay writing help or marketing essay writing help. With the help of these concepts, the marketing tools such as advertising, promotion and publicity designing of a new product are used. Marketing assignment help highlight the following. Get reasonably priced marketing assignment help from us

Marketing assignment help experts demonstrate the points through a diagram to exhibit how marketing starts with customers’ needs, wants and demands ends with marketing of the product in the market by marketer, as shown in our marketing essay writing help material.

The core concepts are described in brief by our marketing assignment experts to give you marketing assignment help and marketing essay writing help.

• Needs: A state of deprivation
• Wants: Desires to satisfy  the deeper needs
• Demands: Ability and willingness to buy
• Products: Anything that satisfies the needs and wants
• Value: The customers’ estimate of the product’s capacity to meet their demands
• Cost: Minority cost, time cost, energy cost and psychic cost taken into account while developing the product.
• Satisfaction: Our marketing assignment help experts categorize satisfaction into three types for marketing essay writing help:

1. Customer expectation = performance (satisfied)
2. Customer expectation > performance (dissatisfaction)
3. Customer expectation < performance (Highly satisfied)

• Exchange: Act of obtaining a desired product by offering something in return
• Transactions: Trade of values between two or more parties
• Relationship: Accord between the seller and buyer
• Market: The place where potential customers share a particular need and are able to engage in exchange to satisfy the need
• Marketing: The process that identifies, anticipates and supplies the requirements of the market efficiently
• Marketer: Someone who seeks a resource from someone else and willing to meet the needs in exchange

Marketing assignment experts who have specialized knowledge and practical understanding can assist you in writing assignments by offering marketing assignment help solutions and marketing essay writing help online.

Marketing management

Our marketing assignment help experts define marketing management as the application of tracking and reviewing company’s marketing resources and activities. According to our marketing assignment help experts, in the course of marketing management, the marketer has to

• Increase the customer base
• Improve customers’ opinion about the company’s products and services
• Enhance the company’s value

Our marketing assignment help experts reveal the ways that the marketing managers enforce to achieve the above mentioned goals, as part of our marketing essay writing help.They are:

• Marketing mix

Marketing mix is a marketing design formed with the help of the set of tactical marketing tools of 4Ps: Product – Price – Place – Promotion.

• Market segmentation

According to our marketing assignment help experts, market segmentation enables companies to target different categories (segments) of consumers. Our marketing assignment help experts also mention three criteria used to identify the various market segments:

1. Homogeneity (common needs within segments)
2. distinction (unique from other groups)
3. reaction (similar response to market).

• Product planning and development

Product planning and development involves

1. Introduction of a product
2. Tangibility continuum of a product
3. Product classification and analysis
4. Branding and packaging

• Promotion mix

Our marketing assignment help experts share knowledge that state that marketing strategies encompasses promotion in order to reach the target market. Marketing tools like advertising, publicity, personal selling and sales promotion are used in the course of the promotion mix.

Promotion mix is highly important in marketing assignment help. Get marketing assignment help in promotion mix separately.

• Distribution planning and pricing strategy

Our marketing assignment help experts explain distribution planning as a systematic decision-making process concerning the physical movement and transfer of ownership of a product from the producer to consumer. These marketing assignment help experts also make you understand what pricing strategy is. Pricing strategies represent a trail of activities of decision-making by the organization regarding all aspects of pricing.

If you want to write an assignment on the topic, you should take guidance from the marketing assignment experts by availing our marketing assignment help services. Marketing essay writing help focuses on the above strategies.

How students can resolve the problems of assignment writing?

Assignment writing can be exciting and at the same overwhelming. The reason is when students engage in assignment writing, they have to undergo a lot of pressure within the various steps. Referencing is one of the major issues that most of the students fail to overcome; hence take marketing assignment help. Problems arise when students cannot understand why and when they should cite their references. Students also ponder on which referencing style they should use because there are nine popular reference styles. To resolve all of these complications, take marketing assignment help from our expert marketing assignment writers.

No matter you are an undergraduate, postgraduate or Ph.D. level student, you are eligible to take marketing assignment help from our wide range of services. The professional marketing assignment writers, who work with this marketing assignment help service, have years of experience in academic writing. These marketing assignment help experts are trained to produce quality products maintaining all the criteria set by the customers. These marketing assignment help experts know the importance of referencing and are well aware of every popular referencing style. No doubt, our marketing assignment help experts have the capability to save you from the pitfalls of referencing.

4 P's of Marketing Assignment Help Online

Marketing mix generally refers to a set of actions or tactics that are used before launching any new product. This tool of marketing is made up of four variables known as the ‘Four Ps’ of marketing.

• Product
• Price
• Promotion
• Place

If you want to write a 4P of marketing assignment, you need to understand that marketing mix is characterized by four different but equally important variables. These variables are never constant, they transform with time. But it is vitally important to note while composing a 4P of marketing assignment that a change in one of the variables may cause a daisy chain reaction in all the other variables as well. The marketing mix blends these variables together to produce the results that the company wants to achieve in its particular target market.

Marketing Mix or 4Ps is the fundamental base of marketing studies and also 4P of marketing assignment writing. So if you want to carry out a 4P of marketing assignment, you need to know the basics of 4Ps of the marketing mix. For this, you can avail our 4P of marketing assignment help.

Understanding 4Ps of marketing mix

Here our 4P of marketing assignment experts will define the four variables of the marketing mix to help write a 4P of marketing assignment. If you need further knowledge on these variables, you can take professional assistance from our 4P of marketing assignment help experts.

• Product

Our 4P of marketing assignment help experts describes product as the goods and services that your business provides for sale. This is the first thing you need if you want to start a business. You need to give priorities to product decisions if you are making any marketing plan. The product is divided into three parts: 

1. The core product
2. The augmented product
3. Tertiary product

The product must deliver a minimum level of performance. To achieve the set target of writing a 4P of marketing assignment, you need to gain proficient knowledge of product that should be considered in terms of quality, design, features, packaging and customer service and any subsequent after-sales services.

• Price

4P of marketing assignment help experts define price as the value that is put into a product and the amount of money that consumers must pay in order to purchase your products. The 4P of marketing assignment experts refer to the variables that affect pricing of a product as:

1. Cost of production
2. Segment targeted
3. Ability of the market to pay
4. Supply and demand
5. Host of other direct and indirect factors
6. Any price fluctuations in market

Along with the above factors, our 4P of marketing assignment experts also describe few more other things that have to be taken into consideration when deciding on a pricing strategy. Targeting and positioning of the product is significantly affected by pricing strategy. Pricing can be used for sales promotion in the form of discounts.

• Promotion

Our 4P of marketing assignment experts describe promotion as the act of communicating the benefits and value of your product to consumers. If a brand is completely new in the market, it needs brand/product awareness promotions, and if the brand is already introduced to the market, it needs brand recall promotions. Promotions include

1. Advertising
2. Direct Marketing
3. Personal selling
4. Sales Promotion
5. Verbal Advertisement
6. Press reports
7. Incentives
8. Commissions and trade awards to the trade

With the promotional schemes, a company decides it’s targeting and positioning of the product. If the promotion goes well, it boosts up all other three variables – product, price, and place.

• Place

Our experts at 4P of marketing assignment help services describe place as the place of distribution, location and methods of getting the product to the customer. Our 4P of marketing assignment expert recommend that the company has to take care of the fact that if a product is for all sections of consumers, it needs to be available as far and wide as possible. On the other hand, if a product is for premium consumers, it should be available only in selected stores. Similarly, if the product is a business product, the company should assign a team who interacts with business and make the product available to them. According to our 4P of marketing assignment experts, the vital factors that affect place are:

1. Location of your business
2. Shop front
3. Distributors
4. Logistics
5. Potential use of internet with the purpose to sell products directly to consumers

To make these above subjects more feasible to learn, contact our marketing experts at 4P of marketing assignment services.

Role of 4Ps in marketing strategy

4Ps of marketing plays a crucial role in deciding the strategy of the organization. Marketing mix is the initial stage of making marketing or business plan for the organization. The reason is marketing mix influence the decisions of segmentation, targeting and positioning decisions. Based on the quality of the product, segmentation and targeting will be done. Based on the price, positioning is decided. Thus, the marketing mix strategy work in chain process with segmentation and positioning. For more information on this above subject, take our 4P of marketing assignment help.

Implementation of marketing mix

Here our 4P of marketing assignment experts use a model to help you understand the how to introduce a new offer in the market. This model can also be utilized to test your existing marketing strategy. If you are carrying out a 4P of marketing assignment, you may want to know the applications of the model. 4P of marketing assignment help has the best way to know it. Here is the model by our 4P of marketing assignment experts, with which you can improve your marketing mix:

• First, identify the product or service for analysis.

• Then, try to answer the questions like ‘why’ or ‘what if’ to challenge your offer. Like, why your target audience needs a particular feature? What if you lower your price by 5 percent? What if you improve PR rather than TV advertisement?

• After that, when you settle on well-defined marketing mix, you need to think from customers’ perspectives. You need ask these following questions:

1. Does the product meet their needs? (Product)
2. Will they find it where they shop? (Place)
3. Will they find the price is affordable? (Price)
4. Are they aware of the product? (Promotions)

When you are fully satisfied that you have all answers, alter the marketing mix strategy accordingly based on the information and facts and figures you have available.

• Lastly, when you develop a marketing plan, review it regularly to see if some elements need change. The reason you keep it under watch is the product or service and its market grow mature and adapt to ever-changing competitive environment.

When you are implementing 4Ps of the marketing mix, our 4P of marketing assignment experts give you the list of the elements for each of the Ps.

Product decisions

• Brand name
• Functionality
• Styling
• Quality
• Safety
• Packaging
• Repairs and Support
• Warranty
• Accessories and Services

Price Decisions

• Pricing Strategy
• Suggested retail price
• Volume discounts and wholesale pricing
• Cash and early payment discounts
• Seasonal pricing
• Bundling
• Price flexibility

Distribution (Place) Decisions

• Distribution channels
• Market coverage
• Inventory management
• Warehousing
• Distribution centers
• Order processing
• Transportation

Promotion Decisions

• Promotional strategy (Push, pull, etc.)
• Advertising
• Personal selling and sales force
• Public relations and publicity

Detailed knowledge of the above sub-topics can be gained with our 4P of marketing assignment help.

Limitations of marketing mix framework

Our 4P of marketing assignment experts observe that the concept of marketing mix was effective in earlier days when the physical products represented a large portion of the economy. But now, the scenario has changed. The 4P of marketing assignment experts note that marketing is more integrated into organizations and with a wider variety of products and markets. However, the marketing mix remains based on the 4Ps. Despite its limitations, it remains active in the field of marketing.

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Strategic Marketing Assignment Help

Strategic Marketing Assignment Help

Students pursuing specialized courses take our proficient strategic marketing assignment help to get higher grades. Strategic marketing is the process to structure the business activities efficiently to communicate values to customers in order to achieve the best desired results. Its basic concept relates to the fact that an efficient strategic marketing can flourish the mediocre product. On the other hand, a good company can move out of business due to poor marketing. To understand the basic concepts, refer to our strategic marketing assignment help by the best strategic marketing assignment writers.

Significance of strategic marketing

According to our strategic marketing assignment help experts, strategic implementation of marketing essentially encompasses every step to reach a product to target consumers. The below steps are significant in a strategic marketing process:

• Analysis of market knowledge and implementation of suitable penetration strategies
• Adaptation of efficient distribution channels to connect with the customers. You can refer to our strategic marketing assignment help for more information
• Developing pricing strategies
• Significant message construction to convey the value to market.
• Depends on how the essence of your business is delivered to the market and customers. Know the process through our strategic marketing assignment help
• The investment should be properly planned, processed and forecast towards the target market. Avail our strategic marketing assignment help to gain insight knowledge.
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Goal of strategic marketing

Business organizations implement strategic marketing to accomplish the following goals. As our strategic marketing assignment help experts point out:

• To enhance the performance of business
• To develop or transform the business strategies effectively
• Setting of priorities to attain organizational change
• To achieve the organizational goals and objectives.

Buy our strategic marketing assignment help to develop a comprehensive knowledge about it. You can also refer to our strategic management assignment help to clarify your doubts.

Three main elements of strategic marketing

Strategic marketing is a revenue-generating process that includes three chief elements:

Strategy

According to our strategic marketing assignment help experts, it considers the complex process of high-level planning to penetrate the business offerings in market efficiently. This is a universal go-to-market strategy that determines the long term sustenance of the business. Strategy is further categorized into the following as told by our strategic marketing assignment help experts:

1. Competitive positioning
2. Brand Strategy
3. Distribution channels
4. Marketing plan and budget
5. Marketing campaigns
6. Pricing policies
7. Sales policies

Tools

The collateral resources, software, processes and assets used to execute the strategies of marketing in a tactical manner. Execution tools are further sub-divided into the following:

1. Corporate Identity
2. Customer relationship management
3. Sales tools
4. Websites
5. Messaging

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Customer acquisition

The mediums and techniques used to execute the strategies in a deliberate manner which helps to gain strong base of customers. As referred by our strategic marketing assignment help experts, they are:

1. Sales management
2. Publicity
3. Trade shows and Events
4. Email marketing
5. Online advertising
6. Tele- marketing
7. Traditional media
8. Search marketing
9. Direct mail
10. Customer retention strategies and Business development

Brief about competitive positioning

According to our strategic marketing assignment help, competitive positioning is the chief determinant that decides the success of strategic marketing. It is defined as the way; a business creates value for its target market by differentiating their offerings from that of the competitors. Competitive positioning can be determined by analyzing the following factors:

Market condition

It includes the assessment of market size, existence of potential competitors, stages of growth as told by our strategic marketing assignment help team.

Competitive analysis

This includes the evaluation of internal strengths and weaknesses in respect to the external threats and opportunities. Develop an insight through our strategic marketing assignment help.

Segmentation of target market

Segment target customers with similar needs and demands.

Strategy to position

This includes the product penetration strategies to highlight its opportunities in market. Know more through our expert strategic marketing assignment help.

Value proposition

This considers the significant value delivered by your business to the target market as told by our strategic marketing assignment help experts.

Our online strategic marketing assignment help can assist you in all these aspects with ease.

Broader classification of value proposition

According to our online strategic marketing assignment help, developing a strong value proposition is a significant objective of strategic marketing. It helps to create brand image of the business and plays a major role in customer acquisition. Customer satisfaction is the only way to generate sustainable value proposition, as informed by our strategic marketing assignment help experts.

Value proposition can be broadly classified into following three types:

1. Operational excellence

It refers to the organizational leadership that can be obtained by the application of certain business principals, operational systems and techniques to achieve sustainable growth. Know more through our strategic marketing assignment help by the best assignment experts.

A hypothetical example of operational excellence:

There is a significant group of consumers who expect simple and good products at a reasonable rate. In order to gain operational excellence, there are businesses that emphasize on offering products or services at the lowest range. In due course, such businesses incorporate a machine that would lower the production cost which in turn decreases the selling price to customers. Such companies do not introduce new or better products in market. They focus on to produce huge volume of products at lowest possible rates.

Refer to our strategic marketing assignment help for more examples.

2. Product leadership

According to our strategic marketing assignment help experts, businesses should be potential to implement innovation and branding in products to achieve product leadership. To be precise, the main focus include modification of products, innovation, design and presentation, timely penetration of products in target market, higher volume of sales at a short time period. Know more through our strategic marketing assignment help.

A hypothetical example of product leadership:

This represents significant group of consumers who prefer quality products irrespective of cost. Businesses should cater quality and innovative products to achieve leadership in market. Businesses undergo continuous improvement programs to incorporate new ideas in products. They analyze the competitive attempts of industry rivals and emphasize on grasping greater share of market by staying one step ahead of them.

Our strategic marketing assignment writing services can provide numerous examples.

3. Customer intimacy

It is a chief part of strategic marketing where the service providers emphasize on customer relationship management by getting closer to its clients. Customer intimacy facilitates the companies with greater problem solving abilities, tailored production according to the needs of customers and strong base of loyal customers. Our strategic marketing assignment help experts can assist you to in this crucial aspect.

A hypothetical example of customer intimacy:

A huge group of customers is prone towards unique and customized products. Companies can deliver customized solution to its clients by developing customer intimacy. Increasing interaction with customers will enable the business to become more streamlined towards their needs and expectations. Avail our strategic marketing assignment help for more such examples.

Importance of strategic marketing course

According to our strategic marketing assignment help, students can boost their academic credentials by pursuing a full-time course in strategic marketing. Moreover, strategic marketing is a course that will help the students to gain comprehensive knowledge about business strategy and marketing.

On exploring the background of strategic marketing, students can identify the contingencies faced by businesses to establish their brand image in target market.

Objectives of strategic marketing course

Our strategic marketing assignment help team gives the basic objectives:

• To make the students understand the definition of marketing and key concepts related to it
• To evaluate the concept of business strategy
• To evaluate competitive advantage through strategic marketing
• To observe the concept of marketing management in global context
• The transformation brought about by digital technologies in strategic marketing and advertisements.

Significant skills acquired by students in the course

• The ability to critical reasoning and appraisal of the marketing programs and strategies implemented in business. Your ability will increase when you refer to our strategic marketing assignment help.
• Ability to adopt the changing business environment and operate within the global market. Know about them through our strategic marketing assignment help.
• Capability to perform contemporary marketing at a global viewpoint. Get details through our strategic marketing assignment help.
• Enhancement in written and communication skills of students. We provide impeccable quality strategic marketing assignment help.
• Decision-making abilities, analytical thinking, potential to function as a team and project management. Our strategic marketing assignment help team provides authentic content to every student.

Why students cannot finish off strategic marketing assignment on time?

As our strategic marketing assignment help experts point out, a full-time course on strategic marketing would expose millions of career opportunities for students. In order to flourish as a professional marketer, assignments are inevitable tasks for students. Comprehensive plan of marketing is the chief consideration while crafting a project on strategic marketing.

According to the verdict of majority students, only few lectures and interactive classes are not enough to have a significant grasp on the marketing concepts and paradigms. Bookish research on the topic is not adequate unless the changing scenario of global market is analyzed thoroughly. Our strategic marketing assignment help experts tell that students tend to fail their deadline in search of authentic data and information on the specified topic. Students can present a viable set of assignments on strategic marketing by taking professional writing help.

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Market Segmentation

Market Segmentation

The starting point of segmentation is mass marketing. In mass marketing, the seller engages in mass production, mass distribution and mass promotion of one product for all the buyers. Henry Ford epitomized this strategy when he offered the Model-T Ford in one color, black. Coca-Cola also practiced mass marketing when it sold only one kind of Coke in a 6.5 ounce bottle.

The argument for mass marketing is that it creates the largest potential market, which leads to the lowest costs, which in turn can lead to lower prices or higher margins. However, many critics point to the increasing splintering of the market and proliferation of advertising media and distribution channels, which are making it difficult and increasingly expensive to reach a mass audience.

Segment Marketing

A market segment consists of group of customers who share a similar set of needs and wants. Rather than creating the segments, the marketer’s task is to identify them and decide which ones to target. Segment marketing offers key benefits over mass marketing. The company can offer better design, price, disclose and deliver the product or service and also can fine tune the marketing program and activities to better reflect competitors’ marketing.

However, even a segment is partly a fiction, in that not everyone wants exactly the same present flexible market offerings to all members of a segment. A flexible market offering consists of two parts of solution containing the product and service elements that all segment members value, and discretionary options that some segment members value. Each option might carry an additional charge. For example, automobile companies in India offer different versions of the same model with different features. The base model of the vehicle may not have an air conditioner or power steering or power windows. But, for models that have these features, the buyer has to pay a higher price. Similarly, domestic airlines in India offer economy class and business or executive class for travelers and the prices of these two options differ significantly. The executive or business class passengers get extra facilities, such as more comfortable seats, better menu for food, and greater preference while checking in and boarding the aircraft.

We can characterize market segments in different ways. One way is to identify preference segments. Homogeneous preferences exist when all customers have roughly the same preferences. The market shows no natural segments. At the other extreme, consumers in diffused preferences vary greatly in their preferences. If several brands are in the market, they are likely to position themselves throughout the space and show real differences to match differences in consumer preference. Finally, clustered preferences result when natural market segments emerge from groups of consumers with shared preferences.

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Target Market Selection: Marketing Strategy tips from MAH

Target Market Selection: Marketing Strategy tips from MAH

The marketer develops a complete profile of the various segments found in the market, one or more is selected for a concerned marketing effort. This is known as market targeting.

How to select potential target markets

For effective targeting of market segments, segments must conform to the following criteria.

• Identification:

• Markets segments should be of such a nature that it is easily identifiable. Segmentation variables based on geographic or demographic information is easily identifiable, where psychographic information like lifestyle, activities and opinion is not that easy to identify. Potential market must be worthwhile to marketers and therefore be big enough and sufficient. Marketers can use demographic and geographic information to determine how large and profitable the target market is.
• Stability:
  Marketers prefer target consumer segments that are relatively stable in terms of demographic and psychographic factors with customer needs that increase over time. If this is not possible, the markets must at least be of such a nature that there will be early indicators of changes in the segment so that the marketing strategy can be adopted accordingly.
• Accessibility:
  It is the final criteria in target market selection. This implies that the target market must be economically accessible. Therefore, marketers must be able to reach the targeted market effectively at an affordable cost with the correct application of media such as radio, television, newspaper and magazines

But before a target market is selected there are certain other criteria which must also be observed.

• Size and Growth of the Target market: A target market need not necessarily be large. A small one can be more profitable than one  in which a large sales volume can be realized. Marketing management must be convinced that there are further growth possibilities and that investing in the target market under consideration does not have only a short-term dimension.
• Attractiveness and potential profitability: The attractiveness of a target market lies not only in its size and growth possibilities but also in the promise of long-term profitability. Attractive segments attract competitors and intense competition can have a detrimental effect on future profits. Serious threats to attractive segments are aggressive competitors who can launch price wars or intense advertising campaigns or even develop new substitute products.
• Resources and Skills of the organization: Promising segment opportunities that do not fit in with the long-term objectives set by management cannot be utilized. The same applies when resources and skills to exploit the opportunity are lacking. A segment can only be chosen as a target market if marketing management is fully committed to serving this target market better than any other competitor can.
• Compatibility with the organization’s objectives: Apart from the resources and skills of the organization, the choice of a target market must also take into account compatibility with the objectives of the organization. If it is found that the objectives of the organization cannot be fulfilled by the choice of a particular market segment, it should be disregarded.
• Cost of reaching the target market: When a potential target market is inaccessible to an organization’s marketing strategies or  the cost to reach it is too high, it should not be considered.

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