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- Personal Value is defined as “an enduring belief that a specific mode of conduct or end-state or outcome is desirable or good.” Lifestyles are consumers’ modes of living as reflected in their activity, interests, and opinions. Psychographics, on the other hand, involves the use of psychological, sociological, and anthropological factors to determine how the market is segmented by the propensity of groups within the market and their reason to make a particular decision about a product. a) Discuss the most frequently used measuring instruments of lifestyle-The Rokeach Value Survey (RVS) and the List of Values (LOV); b) Determinants of Life Style & its behavioral impacts; c) Discuss Values, Attitudes and Lifestyles (VALS) framework.We have decided to open our own business called ABC Headphones. Customers to target: Demographic: Age – mainly young people, people between the age groups 12 – 50 years. Income – Middle class and upper class Gender – Both male and female Geographic: Urban areas Behavioural and Psychographic: Technology-savvy, professionals, student and who live an active lifestyle. 2) Consider the customers you chose to target, select 2 behavioral segmentation variables applicable to your product (ABC headphones).Explain your choice 3) Select a targeting strategy most suitable for your product idea. Explain your choice.For each of the following products, identify the segmentation base that you consider the best for targeting consumers: (a) biscuits, (b) shampoo, (c) wireless broadband, and (d) holidays. Explain your choices. You are required to use 4 key types of market segmentation provided Geographic, Demographics, Psychographics, Behaviour
- What are the diffrent ways to segment a consumer market? Does it makes sense to use more than just a single segmentation variable? Why or why not? What are the key characteristics os a high potential target market? Is the biggest target market always the best? Why or whty not?Crirical Thinking Changing demographics and culturalvalues are important to marketers. list at least threecurrent trends that may affect the successful marketingof the following products:a. Housingb. Foodc. Educationd. Clothinge. Travel and tourismf. AutomobilesTable 3–1 in Chapter 3 describes a green segmentationscheme of consumers that includes psychographic anddemographic information. Choose four of the eightsegments and describe the likely reaction that eachsegment will have to the introduction of Tide Pods.
- For each of the following products, identify the segmentation base that you consider the best for targeting consumers: (a) biscuits, (b) shampoo, (c) wireless broadband, and (d) holidays. Explain your choices. You are required to use 4 key types of market segmentation providedFor each of the following products, identify the segmentation base that you consider the best for targeting consumers: (a) biscuits, (b) shampoo, (c) wireless broadband, and (d) holidays. Explain your choices. You are required to use 4 key types of market segmentation provided in lecture 5 to support your justification.For each of the following products, identify the segmentation base that you consider the best for targeting consumers: (a) biscuits, (b) shampoo, (c) wireless broadband, and (d) holidays. Explain your choices. You are required to use 4 key types of market segmentation
- How would you contrast demographic and behavioral segment schemes? Which one(s) do you think would be most effective for marketers trying to sell to you? Is it the demographic or behavioral segment?C oudy 1080 4 F1 Z 14 Z Z Describe a consumer profile of your own arts and entertainment consumption preferences utilizing four common segmentation categories used in the arts. Briefly explain your choices. # 2 A- F2 11 W S B X #I F3 I # 3 £ Alt E / D DC F4 с $ 4¢ R F K F5 OIO % 5 ||| 06 00 V OCO F6 ¤ T G 6 OLD F7 B ? Y H F8 & 7 11 U N 202 F9 J * 00 8 2 US X₂ F10 M ( 9 3 K F11 H X² E W § L F12 0 14 Scr Lk Arrêtdef P Alt Car PrtSc/Imprecr SysRq/Syst + ½½/2 = E 11 Pause Break/Inter F ? 3Segmenting buyers by personal characteristics such as age, income, ethnicity and nationality, education, occupation, religion, social class, and family size is called demographic segmentation. TRUE OR FALSE? According to the content of the article below (also placed in module 3), the discussion in the article is about Psychographic segmentationUeltschy, L.C. ( 2011 ), Targeting the growing Hispanic market: ethnicity and media preferences, Marketing Management Journal, Vol. 21 No. 2, pp. 10 - 21 TRUE OR FALSE? McDonald's conducted a survey that helped develop products as per geographical areas. It realized that half of Indians are vegetarian and hence offered limited meat products. It developed the Veg Maharaja Mac. According to the chapter readings (Module 3), this an example of geodemographic segmentation. True OR False?