Marketing is used to identify the customer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, marketing management is one of the major components of business management.
H&M is a leading fast fashion retailer that operates over 2,500 stores worldwide. The author is a buyer for H&M's Women's Tops department for Spring 2014. She conducted research on key trends including large, flowing sleeves; bold floral prints; burnout knits; peplums; oversized T-shirts; and colors like pinks, blues, and whites. Based on this, she developed an assortment across five classifications and two store clusters. Her marketing campaign will feature model Carey Mulligan in print ads, app updates with promotions, and a TV commercial to promote the new line.
The document discusses target markets and the product life cycle for new fashion products. It describes four main target market categories: McFashion, International Superbrands, London Style, and Micro Markets. It then outlines different strategies for introducing new products, including product improvement, imitation, innovation, and diversification. Finally, it analyzes the life cycles of basic, fashion, and fad products, noting that fashion products have shorter cycles as styles change more rapidly.
Chapter 1.1 what is fashion marketing Angie Rogers
Fashion is defined as the style of dress preferred by the public at a given time. It can refer to a precise style of dress or behavior, or whatever items are currently popular. Fashion retailers group merchandise into basic staple items that are regularly purchased, and fashion merchandise that is popular at a particular time. Some key aspects of fashion include style, which is the unique shape or type of an item; design, which includes elements like color, line, shape, and texture; and function, which is the intended use of an item. Fashion products encompass clothing, accessories, and home furnishings, and the fashion industry has economic and social importance.
The document discusses the product life cycle and how it relates to different types of fashion products. It explains that products like t-shirts and jeans have long, basic life cycles, while fashion and fad products have much shorter cycles as styles change more quickly. Fashion products in particular move through different target markets - from innovators to early adopters to the masses and late adopters - as the fashion cycles through introduction, growth, maturity and decline. Marketing strategies should be adapted to reach the different consumer types at each stage of the product and fashion life cycles.
Simon Carter is a British menswear brand that has been successful in the UK for over 30 years. The brand currently only has stores in the UK and sells some products through department stores. This document analyzes expanding Simon Carter into the New York market. It conducts a SWOT, PESTEL, and other analyses to understand the current business. It then evaluates different market entry strategies for New York, including franchising, wholesale, and opening standalone stores. A timeline is proposed for a successful expansion into New York that builds the brand while managing risks of entering a new market.
This document provides an overview of a presentation on a case study magazine. It includes details about the magazine such as its name, publisher, year founded, and past changes. It also discusses the magazine's history, including how its style changed over time from a family magazine to focusing on women. Additional sections cover the magazine's main rival, publisher, ownership, audience, and how the magazine has evolved online. The document concludes with notes on theories related to the future of magazines, including synergies between companies and the impacts of web technologies.
This document provides an analysis of the packaging industry for the luxury goods sector from a business-to-business marketing perspective. It begins with an overview of the luxury industry and definitions. It describes the important role that packaging plays in the luxury experience. It then discusses the key players in the luxury packaging industry and trends, including a focus on sustainability.
The document profiles Eric Blanche, who has experience in luxury packaging. It describes two packaging companies, DS Inovir and PAK 2000, that focus on luxury packaging solutions. However, it notes that according to Blanche, luxury companies still treat packaging as a cost center and prioritize low costs over innovation from suppliers. The document concludes by discussing opportunities for packaging companies to create
AHIC is the Middle East’s annual meeting place for the region’s most senior hotel investors, developers, operators and advisors. It is the annual conference that connects business leaders from international and local markets to do deals across the region. This presentation illustrates the opportunities in the hotel market and highlight current top performers. Regions are analyzed in terms of their occupancy rate, average daily rate and revenue per available room. The hotel pipelines for these markets are equally looked at.
H&M is a leading fast fashion retailer that operates over 2,500 stores worldwide. The author is a buyer for H&M's Women's Tops department for Spring 2014. She conducted research on key trends including large, flowing sleeves; bold floral prints; burnout knits; peplums; oversized T-shirts; and colors like pinks, blues, and whites. Based on this, she developed an assortment across five classifications and two store clusters. Her marketing campaign will feature model Carey Mulligan in print ads, app updates with promotions, and a TV commercial to promote the new line.
The document discusses target markets and the product life cycle for new fashion products. It describes four main target market categories: McFashion, International Superbrands, London Style, and Micro Markets. It then outlines different strategies for introducing new products, including product improvement, imitation, innovation, and diversification. Finally, it analyzes the life cycles of basic, fashion, and fad products, noting that fashion products have shorter cycles as styles change more rapidly.
Chapter 1.1 what is fashion marketing Angie Rogers
Fashion is defined as the style of dress preferred by the public at a given time. It can refer to a precise style of dress or behavior, or whatever items are currently popular. Fashion retailers group merchandise into basic staple items that are regularly purchased, and fashion merchandise that is popular at a particular time. Some key aspects of fashion include style, which is the unique shape or type of an item; design, which includes elements like color, line, shape, and texture; and function, which is the intended use of an item. Fashion products encompass clothing, accessories, and home furnishings, and the fashion industry has economic and social importance.
The document discusses the product life cycle and how it relates to different types of fashion products. It explains that products like t-shirts and jeans have long, basic life cycles, while fashion and fad products have much shorter cycles as styles change more quickly. Fashion products in particular move through different target markets - from innovators to early adopters to the masses and late adopters - as the fashion cycles through introduction, growth, maturity and decline. Marketing strategies should be adapted to reach the different consumer types at each stage of the product and fashion life cycles.
Simon Carter is a British menswear brand that has been successful in the UK for over 30 years. The brand currently only has stores in the UK and sells some products through department stores. This document analyzes expanding Simon Carter into the New York market. It conducts a SWOT, PESTEL, and other analyses to understand the current business. It then evaluates different market entry strategies for New York, including franchising, wholesale, and opening standalone stores. A timeline is proposed for a successful expansion into New York that builds the brand while managing risks of entering a new market.
This document provides an overview of a presentation on a case study magazine. It includes details about the magazine such as its name, publisher, year founded, and past changes. It also discusses the magazine's history, including how its style changed over time from a family magazine to focusing on women. Additional sections cover the magazine's main rival, publisher, ownership, audience, and how the magazine has evolved online. The document concludes with notes on theories related to the future of magazines, including synergies between companies and the impacts of web technologies.
This document provides an analysis of the packaging industry for the luxury goods sector from a business-to-business marketing perspective. It begins with an overview of the luxury industry and definitions. It describes the important role that packaging plays in the luxury experience. It then discusses the key players in the luxury packaging industry and trends, including a focus on sustainability.
The document profiles Eric Blanche, who has experience in luxury packaging. It describes two packaging companies, DS Inovir and PAK 2000, that focus on luxury packaging solutions. However, it notes that according to Blanche, luxury companies still treat packaging as a cost center and prioritize low costs over innovation from suppliers. The document concludes by discussing opportunities for packaging companies to create
AHIC is the Middle East’s annual meeting place for the region’s most senior hotel investors, developers, operators and advisors. It is the annual conference that connects business leaders from international and local markets to do deals across the region. This presentation illustrates the opportunities in the hotel market and highlight current top performers. Regions are analyzed in terms of their occupancy rate, average daily rate and revenue per available room. The hotel pipelines for these markets are equally looked at.
The T-shirt originated as an undershirt in the 19th century. It became popular when issued to US Navy sailors for work parties due to its lightweight cotton material. Through the 20th century, T-shirts evolved from undershirts to outerwear and a medium for self-expression, decorated with various designs, logos, and slogans. Today, T-shirts are commonly screen printed or digitally printed with many commercial and personal messages and continue as a popular article of clothing.
This document discusses various methods for defining a target audience for advertising and marketing campaigns. It describes demographic targeting using factors like age, income and gender. Psychographic targeting focuses on attitudes, opinions and lifestyles. Product users and heavy users can be targeted to efficiently reach those most likely to purchase. Other options include targeting customers versus prospects, purchasers versus decision makers, different life stages and generations, purchase influencers, emerging markets, and behaviors like an individual's stage in the purchasing process or internet browsing habits. Defining the target audience precisely is a key task for effective media planning.
This document contains a business plan for launching a new clothing brand focused on caps and belts. It outlines the products, target markets, raw materials, advertising strategy, and costing analysis. The key points are:
1) The products will be caps and belts for men and women in a range of designs and colors.
2) The target market is people of all ages, targeting both upper and middle classes.
3) Quality materials like leather, cotton, wool and silk will be used while keeping costs low.
4) Advertising will include television, newspapers and online to promote the brand widely.
Top 24 team in the High School Utah Entrepreneur Challenge 2017. The program is managed by the Lassonde Entrepreneur Institute at the University of Utah. Learn more at lassonde.utah.edu/hsuec.
Despite or because of its ubiquity, advertising is not an easy term .docxraelenehqvic
Despite or because of its ubiquity, advertising is not an easy term to define. Usually advertising attempts to persuade its audience to purchase a good or a service. But “institutional” advertising has for a century sought to build corporate reputations without appealing for sales. Political advertising solicits a vote (or a contribution), not a purchase. Usually, too, authors distinguish advertising from salesmanship by defining it as mediated persuasion aimed at an audience rather than one-to-one communication with a potential customer. The boundaries blur here, too. When you log on to Amazon.com, a screen often addresses you by name and suggests that, based on your past purchases, you might want to buy certain books or CDs, selected just for you. A telephone call with an automated telemarketing message is equally irritating whether we classify it as advertising or sales effort.
In United States history, advertising has responded to changing business demands, media technologies, and cultural contexts, and it is here, not in a fruitless search for the very first advertisement, that we should begin. In the eighteenth century, many American colonists enjoyed imported British consumer products such as porcelain, furniture, and musical instruments, but also worried about dependence on imported manufactured goods.
Advertisements in colonial America were most frequently announcements of goods on hand, but even in this early period, persuasive appeals accompanied dry descriptions. Benjamin Franklin’s
Pennsylvania Gazette
reached out to readers with new devices like headlines, illustrations, and advertising placed next to editorial material. Eighteenth- and nineteenth-century advertisements were not only for consumer goods. A particularly disturbing form of early American advertisements were notices of slave sales or appeals for the capture of escaped slaves. (
For examples of these ads, click here for the Virginia Runaways Project site.
) Historians have used these advertisements as sources to examine tactics of resistance and escape, to study the health, skills, and other characteristics of enslaved men and women, and to explore slaveholders’ perceptions of the people they held in bondage.
Despite the ongoing “market revolution,” early and mid- nineteenth-century advertisements rarely demonstrate striking changes in advertising appeals. Newspapers almost never printed ads wider than a single column and generally eschewed illustrations and even special typefaces. Magazine ad styles were also restrained, with most publications segregating advertisements on the back pages. Equally significant, until late in the nineteenth century, there were few companies mass producing branded consumer products. Patent medicine ads proved the main exception to this pattern. In an era when conventional medicine seldom provided cures, manufacturers of potions and pills vied for consumer attention with large, often outrageous, promises and colorful, dramatic advertis.
The Big Issue Presentation conventions.pptxMolly703955
The Big Issue adapts to appeal to different audiences through various magazine cover styles such as celebrity covers featuring direct eye contact and expressions, political covers using graphics and real images to portray biases, and pop culture covers referencing recognizable characters. Using different styles helps attract a diverse audience by fulfilling different entertainment, information, and social needs through the Uses and Gratifications theory.
Khurram Hayat is proposing to start a business selling T-shirts at the University of Engineering and Technology in Lahore, Pakistan. His business will target the approximately 11,000 students on campus. He plans to purchase T-shirts for Rs. 150 each and sell them for Rs. 450 each. By selling at least 10 shirts per day, he estimates earning Rs. 45,000 per month and making a monthly profit of Rs. 39,500 after expenses. Khurram believes there is currently no competition on campus and that word-of-mouth from students wearing the T-shirts will be an effective promotion strategy.
This document provides an overview of t-shirt design and manufacturing. It covers the basic anatomy of a t-shirt, including components like the body, sleeves, neckline and hem. It also discusses t-shirt seam construction and points of measurement. The document outlines the lifecycle of a t-shirt from raw material production to consumer use. Additionally, it explores the process of t-shirt manufacturing, from design conceptualization to quality control checks. The guide aims to help designers, manufacturers and consumers understand the key elements that go into creating a t-shirt.
Market segmentation targeting and positioningMohd PG
The document discusses market segmentation, targeting, and positioning. It lists common segmentation variables like gender, age, income, social class, and lifestyle. It provides examples of how companies segment by age, gender, and income level. For age, it discusses diversifying products, pricing, and features for different age groups. For gender, it discusses creating segments and tailored marketing for males vs females. For income, it discusses considering different income levels when setting prices. Social class and lifestyle segmentation are also briefly explained. The document suggests that when choosing a segment to aim for, companies should consider market leaders that have established reputation, visibility, and customer comfort with their brand.
The document discusses a study on the price variation of T-shirts. It provides background on T-shirts and defines key terms like price and price variation. The objectives are to find the price variation of T-shirts and identify the highest selling price. The methodology describes collecting data on T-shirt prices from shops in Bashundhara shopping mall. The results show that prices ranged from 250-1250 taka, with 650-850 taka being the highest selling range. Non-branded shirts saw lower prices from 150-1150 taka compared to branded shirts priced 250-1050 taka. The findings can help retailers and consumers understand T-shirt pricing.
Purchase the trending graphic tees online in USA | Wonk ApparelWonk Apparel
If you are looking for the trending t-shirts online, just get in touch with Wonk Apparel, You can buy super cool graphic tees at low price. You can get your products at your doorstep and it is easy to do shopping here.
Audience profiles provide media producers with detailed demographic information about their target audiences. This allows them to tailor products and services to match audience interests. Some key ways audiences can be defined include by age, gender, socio-economic status, geographic location, and psychographic factors like values and attitudes. Magazines like Vogue and Chat have very different audience profiles - Vogue targets higher-income women in cities, while Chat readers are generally working-class women in rural areas. Understanding audience profiles is important for targeting advertising and content to increase sales and revenue.
Project 2 What is the role of the media and film in influencing fashion (Binq...Scy19970806
The document discusses the role of media and film in influencing fashion trends. It provides several examples of how different types of media have promoted certain styles, making them popular trends. Fashion magazines and movies in particular are highlighted as having a large influence. Celebrities and public figures that endorse products or wear certain styles in films help drive consumers to emulate those looks. Overall, the document argues that fashion would not be what it is today without the widespread promotion and dissemination of styles through various media platforms over the 20th century.
The document provides an analysis of the target market, competitors, and marketing strategies for a proposed women's boutique. It analyzes the demographics, behaviors, and interests of the target market of women ages 35-50 in middle to upper-middle income brackets. Three main competitors are identified: Dillard's, Target, and a local boutique. Dillard's and Target have a larger customer base due to their national presence but carry a broader range of products. The local boutique has a loyal following but relies more on word-of-mouth. Marketing strategies analyzed include promotions, social media, and branding. A SWOT analysis compares the strengths, weaknesses, opportunities and threats faced by each competitor.
The document provides an overview of three women's underwear businesses - Victoria's Secret, La Senza, and Bravissimo - and their marketing strategies. Victoria's Secret focuses on annual fashion shows, catalogs, print ads, supermodels, and upscale storefronts. La Senza aims for affordability and uses events like Clothes Show London along with price, product placement, promotion, and customer service. Bravissimo targets large-breasted women through exhibitions, conferences, and mail order to provide an inclusive shopping experience not found elsewhere.
The Big Issue Presentation conventions.pptxMolly703955
The Big Issue adapts its magazine covers to appeal to different target audiences. It uses celebrity covers with direct address and relatable facial expressions. It employs political covers with graphics and images that portray issues from its political viewpoint. It also uses cartoons, pop culture references, and socially conscious topics to engage various demographics. The covers utilize techniques like direct address, intriguing headlines, and emotionally provocative photos and graphics.
The document discusses research into target audiences and existing magazines for inspiration on designing a new streetwear magazine. It analyzes the target audiences and content of magazines like Proper Mag and MixMag. Proper Mag focuses on streetwear and unique clothing, using clean designs with a blend of images and text. MixMag follows a simple but effective style with large center images and single-color backgrounds. The document considers applying lessons from these magazines to its own new streetwear publication.
- Hearst Magazines publishes 21 magazine brands in the UK that reach over 1/3 of UK women and 1/4 of UK men each month. Their magazines include Cosmopolitan, Country Living, ELLE, Esquire, and others.
- The document provides guidelines on codes and conventions for magazines, including the masthead, box-outs, menus, tags, captions, covers, and more.
- Research was conducted through a questionnaire to understand magazine preferences between younger (16-20) and older (21+) audiences. Younger audiences preferred entertainment and fashion magazines online, while older groups favored magazines for news and information.
- Hearst Magazines publishes 21 magazine brands in the UK that reach over 1 in 3 UK women and 1 in 4 UK men each month. They sell over 4 million magazines a month.
- Hearst targets demographics of 25+ and 18-25 years old to reach a wide audience. Content includes celebrity gossip, fashion, and entertainment to attract fun-loving 16-24 year olds.
- Primary research showed that magazine purchases are more popular with those aged 20+, while those aged 16-20 prefer reading magazines online. Younger audiences favor entertainment and fashion content while older audiences prefer news and information.
Albert Einstein was a German-born physicist who developed the special and general theories of relativity. He was born in Ulm, Germany in 1879 and obtained his early education in Munich. He struggled in school initially but developed an interest in geometry at age 12. Einstein published over 300 scientific papers and 150 non-scientific works in his lifetime. He won the Nobel Prize in Physics in 1921 for his explanation of the photoelectric effect. Einstein is considered one of the most influential scientists of the 20th century.
The picture of day-to-day and even year-to-year performance of the economy of Bangladesh is a mixture of accomplishment and failure, not significantly different from that of the majority of poor Third World countries.
The T-shirt originated as an undershirt in the 19th century. It became popular when issued to US Navy sailors for work parties due to its lightweight cotton material. Through the 20th century, T-shirts evolved from undershirts to outerwear and a medium for self-expression, decorated with various designs, logos, and slogans. Today, T-shirts are commonly screen printed or digitally printed with many commercial and personal messages and continue as a popular article of clothing.
This document discusses various methods for defining a target audience for advertising and marketing campaigns. It describes demographic targeting using factors like age, income and gender. Psychographic targeting focuses on attitudes, opinions and lifestyles. Product users and heavy users can be targeted to efficiently reach those most likely to purchase. Other options include targeting customers versus prospects, purchasers versus decision makers, different life stages and generations, purchase influencers, emerging markets, and behaviors like an individual's stage in the purchasing process or internet browsing habits. Defining the target audience precisely is a key task for effective media planning.
This document contains a business plan for launching a new clothing brand focused on caps and belts. It outlines the products, target markets, raw materials, advertising strategy, and costing analysis. The key points are:
1) The products will be caps and belts for men and women in a range of designs and colors.
2) The target market is people of all ages, targeting both upper and middle classes.
3) Quality materials like leather, cotton, wool and silk will be used while keeping costs low.
4) Advertising will include television, newspapers and online to promote the brand widely.
Top 24 team in the High School Utah Entrepreneur Challenge 2017. The program is managed by the Lassonde Entrepreneur Institute at the University of Utah. Learn more at lassonde.utah.edu/hsuec.
Despite or because of its ubiquity, advertising is not an easy term .docxraelenehqvic
Despite or because of its ubiquity, advertising is not an easy term to define. Usually advertising attempts to persuade its audience to purchase a good or a service. But “institutional” advertising has for a century sought to build corporate reputations without appealing for sales. Political advertising solicits a vote (or a contribution), not a purchase. Usually, too, authors distinguish advertising from salesmanship by defining it as mediated persuasion aimed at an audience rather than one-to-one communication with a potential customer. The boundaries blur here, too. When you log on to Amazon.com, a screen often addresses you by name and suggests that, based on your past purchases, you might want to buy certain books or CDs, selected just for you. A telephone call with an automated telemarketing message is equally irritating whether we classify it as advertising or sales effort.
In United States history, advertising has responded to changing business demands, media technologies, and cultural contexts, and it is here, not in a fruitless search for the very first advertisement, that we should begin. In the eighteenth century, many American colonists enjoyed imported British consumer products such as porcelain, furniture, and musical instruments, but also worried about dependence on imported manufactured goods.
Advertisements in colonial America were most frequently announcements of goods on hand, but even in this early period, persuasive appeals accompanied dry descriptions. Benjamin Franklin’s
Pennsylvania Gazette
reached out to readers with new devices like headlines, illustrations, and advertising placed next to editorial material. Eighteenth- and nineteenth-century advertisements were not only for consumer goods. A particularly disturbing form of early American advertisements were notices of slave sales or appeals for the capture of escaped slaves. (
For examples of these ads, click here for the Virginia Runaways Project site.
) Historians have used these advertisements as sources to examine tactics of resistance and escape, to study the health, skills, and other characteristics of enslaved men and women, and to explore slaveholders’ perceptions of the people they held in bondage.
Despite the ongoing “market revolution,” early and mid- nineteenth-century advertisements rarely demonstrate striking changes in advertising appeals. Newspapers almost never printed ads wider than a single column and generally eschewed illustrations and even special typefaces. Magazine ad styles were also restrained, with most publications segregating advertisements on the back pages. Equally significant, until late in the nineteenth century, there were few companies mass producing branded consumer products. Patent medicine ads proved the main exception to this pattern. In an era when conventional medicine seldom provided cures, manufacturers of potions and pills vied for consumer attention with large, often outrageous, promises and colorful, dramatic advertis.
The Big Issue Presentation conventions.pptxMolly703955
The Big Issue adapts to appeal to different audiences through various magazine cover styles such as celebrity covers featuring direct eye contact and expressions, political covers using graphics and real images to portray biases, and pop culture covers referencing recognizable characters. Using different styles helps attract a diverse audience by fulfilling different entertainment, information, and social needs through the Uses and Gratifications theory.
Khurram Hayat is proposing to start a business selling T-shirts at the University of Engineering and Technology in Lahore, Pakistan. His business will target the approximately 11,000 students on campus. He plans to purchase T-shirts for Rs. 150 each and sell them for Rs. 450 each. By selling at least 10 shirts per day, he estimates earning Rs. 45,000 per month and making a monthly profit of Rs. 39,500 after expenses. Khurram believes there is currently no competition on campus and that word-of-mouth from students wearing the T-shirts will be an effective promotion strategy.
This document provides an overview of t-shirt design and manufacturing. It covers the basic anatomy of a t-shirt, including components like the body, sleeves, neckline and hem. It also discusses t-shirt seam construction and points of measurement. The document outlines the lifecycle of a t-shirt from raw material production to consumer use. Additionally, it explores the process of t-shirt manufacturing, from design conceptualization to quality control checks. The guide aims to help designers, manufacturers and consumers understand the key elements that go into creating a t-shirt.
Market segmentation targeting and positioningMohd PG
The document discusses market segmentation, targeting, and positioning. It lists common segmentation variables like gender, age, income, social class, and lifestyle. It provides examples of how companies segment by age, gender, and income level. For age, it discusses diversifying products, pricing, and features for different age groups. For gender, it discusses creating segments and tailored marketing for males vs females. For income, it discusses considering different income levels when setting prices. Social class and lifestyle segmentation are also briefly explained. The document suggests that when choosing a segment to aim for, companies should consider market leaders that have established reputation, visibility, and customer comfort with their brand.
The document discusses a study on the price variation of T-shirts. It provides background on T-shirts and defines key terms like price and price variation. The objectives are to find the price variation of T-shirts and identify the highest selling price. The methodology describes collecting data on T-shirt prices from shops in Bashundhara shopping mall. The results show that prices ranged from 250-1250 taka, with 650-850 taka being the highest selling range. Non-branded shirts saw lower prices from 150-1150 taka compared to branded shirts priced 250-1050 taka. The findings can help retailers and consumers understand T-shirt pricing.
Purchase the trending graphic tees online in USA | Wonk ApparelWonk Apparel
If you are looking for the trending t-shirts online, just get in touch with Wonk Apparel, You can buy super cool graphic tees at low price. You can get your products at your doorstep and it is easy to do shopping here.
Audience profiles provide media producers with detailed demographic information about their target audiences. This allows them to tailor products and services to match audience interests. Some key ways audiences can be defined include by age, gender, socio-economic status, geographic location, and psychographic factors like values and attitudes. Magazines like Vogue and Chat have very different audience profiles - Vogue targets higher-income women in cities, while Chat readers are generally working-class women in rural areas. Understanding audience profiles is important for targeting advertising and content to increase sales and revenue.
Project 2 What is the role of the media and film in influencing fashion (Binq...Scy19970806
The document discusses the role of media and film in influencing fashion trends. It provides several examples of how different types of media have promoted certain styles, making them popular trends. Fashion magazines and movies in particular are highlighted as having a large influence. Celebrities and public figures that endorse products or wear certain styles in films help drive consumers to emulate those looks. Overall, the document argues that fashion would not be what it is today without the widespread promotion and dissemination of styles through various media platforms over the 20th century.
The document provides an analysis of the target market, competitors, and marketing strategies for a proposed women's boutique. It analyzes the demographics, behaviors, and interests of the target market of women ages 35-50 in middle to upper-middle income brackets. Three main competitors are identified: Dillard's, Target, and a local boutique. Dillard's and Target have a larger customer base due to their national presence but carry a broader range of products. The local boutique has a loyal following but relies more on word-of-mouth. Marketing strategies analyzed include promotions, social media, and branding. A SWOT analysis compares the strengths, weaknesses, opportunities and threats faced by each competitor.
The document provides an overview of three women's underwear businesses - Victoria's Secret, La Senza, and Bravissimo - and their marketing strategies. Victoria's Secret focuses on annual fashion shows, catalogs, print ads, supermodels, and upscale storefronts. La Senza aims for affordability and uses events like Clothes Show London along with price, product placement, promotion, and customer service. Bravissimo targets large-breasted women through exhibitions, conferences, and mail order to provide an inclusive shopping experience not found elsewhere.
The Big Issue Presentation conventions.pptxMolly703955
The Big Issue adapts its magazine covers to appeal to different target audiences. It uses celebrity covers with direct address and relatable facial expressions. It employs political covers with graphics and images that portray issues from its political viewpoint. It also uses cartoons, pop culture references, and socially conscious topics to engage various demographics. The covers utilize techniques like direct address, intriguing headlines, and emotionally provocative photos and graphics.
The document discusses research into target audiences and existing magazines for inspiration on designing a new streetwear magazine. It analyzes the target audiences and content of magazines like Proper Mag and MixMag. Proper Mag focuses on streetwear and unique clothing, using clean designs with a blend of images and text. MixMag follows a simple but effective style with large center images and single-color backgrounds. The document considers applying lessons from these magazines to its own new streetwear publication.
- Hearst Magazines publishes 21 magazine brands in the UK that reach over 1/3 of UK women and 1/4 of UK men each month. Their magazines include Cosmopolitan, Country Living, ELLE, Esquire, and others.
- The document provides guidelines on codes and conventions for magazines, including the masthead, box-outs, menus, tags, captions, covers, and more.
- Research was conducted through a questionnaire to understand magazine preferences between younger (16-20) and older (21+) audiences. Younger audiences preferred entertainment and fashion magazines online, while older groups favored magazines for news and information.
- Hearst Magazines publishes 21 magazine brands in the UK that reach over 1 in 3 UK women and 1 in 4 UK men each month. They sell over 4 million magazines a month.
- Hearst targets demographics of 25+ and 18-25 years old to reach a wide audience. Content includes celebrity gossip, fashion, and entertainment to attract fun-loving 16-24 year olds.
- Primary research showed that magazine purchases are more popular with those aged 20+, while those aged 16-20 prefer reading magazines online. Younger audiences favor entertainment and fashion content while older audiences prefer news and information.
Albert Einstein was a German-born physicist who developed the special and general theories of relativity. He was born in Ulm, Germany in 1879 and obtained his early education in Munich. He struggled in school initially but developed an interest in geometry at age 12. Einstein published over 300 scientific papers and 150 non-scientific works in his lifetime. He won the Nobel Prize in Physics in 1921 for his explanation of the photoelectric effect. Einstein is considered one of the most influential scientists of the 20th century.
The picture of day-to-day and even year-to-year performance of the economy of Bangladesh is a mixture of accomplishment and failure, not significantly different from that of the majority of poor Third World countries.
The most popular FM stations and the internet radio stations of different genres are collected in the online directory of the Free Radio Tune. The Pakistan Broadcasting Corporation, usually called Radio Pakistan came into being as Pakistan Broadcasting Service on 14 August 1947 when Pakistan emerged on the world map as a new country.
Competitive advantage By Bangladesh Commerce Bank LtdAsad Saimon
Bangladesh Commerce Bank Ltd incorporated in Bangladesh on 1 June 1998 as a banking company, it started banking operations on 16 September 1999 with an authorized and paid up capital of Tk 2,000 million and Tk 920 million respectively.
Intership Report on Foreign exchange procedures of al arafah islami bank ltdAsad Saimon
Al-Arafah Islami Bank Ltd (AIBL) is one of the largest Banks in Bangladesh. Day by day AIBL has become a giant in the banking sector. It has two main divisions of operation-Corporate and General/Consumer Banking.
Report on Foreign exchange procedures of al arafah islami bank ltdAsad Saimon
Al-Arafah Islami Bank Limited.it will give a wide view of different stages of operational procedure of Al-Arafah Islami Bank Limited, starting from the investment application to investment disbursement and the comparison between standard and existing credit appraisal system of a Bank.
Overall banking system on agrani bank ltdAsad Saimon
The document provides an internship report on Agrani Bank Limited. It discusses the bank's history and objectives, which include acting as a medium of exchange, contributing to GDP growth, and expanding access to financial services.
The report evaluates several aspects of the bank's performance, including credit provision, trade financing, industrial development financing, and foreign exchange business. It analyzes loan portfolios, credit recovery programs, loan classification and provisioning. It also covers the bank's computerization efforts and assessments of capital adequacy and liquidity.
The document contains details on the bank's loan portfolios across different sectors, programs to finance small businesses and industrial projects, and participation in credit schemes with international financial institutions.
BASIC Bank Limited is unique in its objectives. It is a blend of development and commercial banks. The Memorandum and Articles of Association of the Bank stipulate that 50 percent of loan able funds shall be invested in small and cottage industries sector.
Report on Foreign exchange market of hsbc bangladesh ltdAsad Saimon
The foreign exchange market has played a vital role in the last decade or so in guiding the purchase and sale of goods, services and raw materials globally. The market directly affects country’s bond, equities, private property, manufacturing and all assets that are available to foreign investors. The market is a stabilizing factor in the world system of monetary exchange and was created not by design but necessity.
Grameen Bank Project was born in the village of Jobra, Bangladesh, in 1976. In 1983 it was transformed into a formal bank under a special law passed for its creation. It is owned by the poor borrowers of the bank who are mostly women. It works exclusively for them. Borrowers of Grameen Bank at present own 94 per cent of the total equity of the bank. Remaining 6 percent is owned by the government.
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
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INCLUDED FRAMEWORKS/MODELS:
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5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
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17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
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4. Acknowledgement
In view of this, we gratefully acknowledge to different kind of people for
their valuable suggestions & guidance to conduct this assignment
effectively.
At first I desire to express my deepest sense of gratitude of almighty
Allah.
I would like to give thanks especially to my friends and many
individuals, for their enthusiastic encouragements and helps during the
preparation of this assignment by sharing ideas regarding this subject
and for their assistance in typing and proof reading this manuscript.
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5. Introduction
Marketing is used to identify the customer, satisfy the customer, and keep
the customer. With the customer as the focus of its activities, marketing
management is one of the major components of business management.
Marketing evolved to meet the stasis in developing new markets caused
by mature markets and overcapacities in the last 2-3 centuries. The
adoption of marketing strategies requires businesses to shift their focus
from production to the perceived needs and wants of their customers as
the means of staying profitable.
The term marketing concept holds that achieving organizational goals
depends on knowing the needs and wants of target markets and
delivering the desired satisfactions. It proposes that in order to satisfy
its organizational objectives, an organization should anticipate the
needs and wants of consumers and satisfy these more effectively than
competitors.
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7. T-shirt
A T-shirt (T shirt or tee) is a style of shirt. A T-shirt is buttonless and collarless,
usually with short sleeves and frequently a round neck line.
T-shirts are typically made of cotton fibers (sometimes others), knitted together in a
jersey stitch that gives a T-shirt its distinctive soft texture. T-shirts can be decorated
with text and/or pictures, and they are often used to advertise (see human billboard),
promoting products, companies, films and websites.
T-shirt fashions include many styles for both men and women, and for all age groups,
including baby, youth, teen, adult and elderly sizes.The T-shirt evolved from
undergarments used in the 19th century, through cutting the one-piece "union suit"
underwear into separate top and bottom garments, with the top long enough to tuck
under the waistband of the bottoms. T-shirts, with and without buttons, were adopted
by miners and stevedores during the late 19th century as a convenient covering for hot
environments.
T-shirts, as a slip-on garment without buttons, originally became popular in the
United States when they were issued by the U.S. Navy during or following the
Spanish American War. These were a crew-necked, short-sleeved, white cotton
undershirt to be worn under a uniform. It became common for sailors and Marines in
work parties, the early submarines, and tropical climates to remove their uniform
"jacket", wearing (and soiling) only the undershirt.
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8. World War II
Following World War II, it became common to see veterans wearing their uniform
trousers with their T-shirts as casual clothing, and they became even more popular in
the 1950s after Marlon Brando wore one in A Streetcar Named Desire, finally
achieving status as fashionable, stand-alone, outer-wear garments.
In the mid-1980s, the white T-shirt became fashionable after the actor Don Johnson
wore it with an Armani suit in Miami Vice.
They can also be used to carry commercial advertising, souvenir messages and protest
art messages. Beginning in the late 1960s, the T-shirt became a medium for wearable
art. Psychedelic art poster designer Warren Dayton pioneered several political,
protest, and pop-culture art T-shirts featuring images of Cesar Chavez, political
cartoons, and other cultural icons in an article in the Los Angeles Times magazine in
late 1969.
Today, many notable and memorable T-shirts produced in the 1970s have now
become ensconced in pop culture. Examples include the bright yellow happy face T-
shirts, The Rolling Stones tops with their "tongue and lips" logo, and Milton Glaser's
iconic design.
Trends
A T-shirt typically extends to the waist. Variants of the T-shirt, like the tank top, crew
neck, A-shirt (with the nickname "wife beater"), muscle shirt, scoop neck, and V-neck
have been developed. Hip hop fashion calls for "tall-T" T-shirts which may extend
down to the knees. A 1990s trend in women's clothing involved tight-fitting
"cropped" T-shirts short enough to reveal the midriff. Another popular trend is
wearing a short-sleeved T-shirt of a contrasting color over a long-sleeved T-shirt. This
is known as "layering". T-shirts that are tight to the body are called fitted, tailored or
"baby doll" t-shirts.
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9. Decoration
A Taiwanese`s T-shirt
In the early 1950s several companies based in Miami, Florida, started to decorate T-
shirts with different resort names and various characters. The first company was
Tropix Togs, under founder Sam Kantor, in Miami. They were the original license for
Walt Disney characters that included Mickey Mouse and Davy Crockett. Later, other
companies expanded into the T-shirt printing business, including Sherry
Manufacturing Company, also based in Miami. Sherry started in 1948 by its owner
and founder Quinton Sandler as a screen print scarf business and evolved into one of
the largest screen printed resort and licensed apparel companies in the United States.
In 1959, plastisol, a more durable and stretchable ink, was invented, allowing much
more variety in T-shirt designs.
In the 1960s, the ringer T-shirt appeared and became a staple fashion for youth and
rock-n-rollers. The decade also saw the emergence of tie-dyeing and screen-printing
on the basic T-shirt. In the late 1960s Richard Ellman, Robert Tree, Bill Kelly, and
Stanley Mouse set up the Monster Company in Mill Valley, California, to produce
fine art designs expressly for T-shirts. Monster T-shirts often feature emblems and
motifs associated with the Grateful Dead and marijuana culture. Additionally, one of
the most popular symbols to emerge out of the political turmoil of 1960s were T-shirts
bearing the face of Marxist revolutionary Che Guevara.
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10. Idea Generation
People prefer to wear t-shirt. It is used by all class people. Talking
this as background of my thought, I have decided to Marketing of
“PERFECT FASHION’S”
T-SHIRT will be beneficially or profitable.
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11. Idea Formation
100% COTTON
NOT HARM FULL FOR SKIN
STANDARD PRODUCT
DEMAND FOR GREEN “PERFECT FASHION” T-SHIRT IS
VERY HIGH IN EVERY CITY AREAS.
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12. Market segmentation
Market segmentation is a concept in economics and marketing. A market segment is
a sub-set of a market made up of people or organizations with one or more
characteristics that cause them to demand similar product and/or services based on
qualities of those products such as price or function. A true market segment meets all
of the following criteria: it is distinct from other segments (different segments have
different needs), it is homogeneous within the segment (exhibits common needs); it
responds similarly to a market stimulus, and it can be reached by a market
intervention. The term is also used when consumers with identical product and/or
service needs are divided up into groups so they can be charged different amounts for
the services. The people in a given segment are supposed to be similar in terms of
criteria by which they are segmented and different from other segments in terms of
these criteria. These can be broadly viewed as 'positive' and 'negative' applications of
the same idea, splitting up the market into smaller groups.
Examples:
• Gender
• Price
• Interests
• Location
• Religion
• Income
• Size of Household
While there may be theoretically 'ideal' market segments, in reality every organization
engaged in a market will develop different ways of imagining market segments, and
create Product differentiation strategies to exploit these segments. The market
segmentation and corresponding product differentiation strategy can give a firm a
temporary commercial advantage.
Bases for segmenting consumer markets
• Geographic segmentation
• Demographic segmentation
• Psychographic segmentation
• Behavioral segmentation
Positive" market segmentation
Market segmenting is dividing the market into groups of individual markets
with similar wants or needs that a company divides into distinct groups which
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13. have distinct needs, wants, behavior or which might want different products &
services. Broadly, markets can be divided according to a number of general
criteria, such as by industry or public versus private. Although industrial
market segmentation is quite different from consumer market segmentation,
both have similar objectives. All of these methods of segmentation are merely
proxies for true segments, which don't always fit into convenient demographic
boundaries.
Consumer-based market segmentation can be performed on a product specific
basis, to provide a close match between specific products and individuals.
However, a number of generic market segment systems also exist, e.g. the
system provides a broad segmentation of the population of the United States
based on the statistical analysis of household and geodemographic data.
The process of segmentation is distinct from positioning (designing an
appropriate marketing mix for each segment). The overall intent is to identify
groups of similar customers and potential customers; to prioritize the groups to
address; to understand their behavior; and to respond with appropriate
marketing strategies that satisfy the different preferences of each chosen
segment. Revenues are thus improved.
Improved segmentation can lead to significantly improved marketing
effectiveness. Distinct segments can have different industry structures and thus
have higher or lower attractiveness
Once a market segment has been identified (via segmentation), and targeted (in
which the viability of servicing the market intended), the segment is then
subject to positioning. Positioning involves ascertaining how a product or a
company is perceived in the minds of consumers.
This part of the segmentation process consists of drawing up a perceptual map,
which highlights rival goods within one's industry according to perceived
quality and price. After the perceptual map has been devised, a firm would
consider the marketing communications mix best suited to the product in
question.
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14. Geographic Segmentation
Geographic segmentation is a marketing strategy, whereby the prospective
buyers are divided on the basis of geographic units, like cities, states, countries,
etc. Read on for more information about what is geographic segmentation...
The ultimate aim of any business is making profits. In order to achieve this
goal, a perfect marketing strategy is very necessary. Marketing is a very wide
concept, which involves various activities, like studying the buyers' minds,
their needs and preferences, designing products according to customers' needs,
and promoting and selling the products using various techniques. However,
different customers have different needs and preferences and it will be a folly
on the part of the seller to treat them alike. You cannot develop and sell a
product on assumptions only. While bad products fail to lure the customers,
good products may also fail in a low demand market. Hence, a study of the
market is indispensable, especially for global brands. One such marketing
strategy is target marketing, which recognizes the diversity of customers and
identifies the needs of separate segments of a market. In other words, the
market is divided into segments and the marketing efforts are concentrated on a
few vital segments.
Market Segmentation Strategy
Now we know that in target marketing, the market is divided into distinct
segments. Dividing the market into groups of individuals, who share similar
needs and preferences, in relation to goods and products is called market
segmentation. Market segmentation is done on the basis of various factors, like,
culture, economic status, geographic differences, behavior, etc. A market
segmentation strategy is aimed at dividing a heterogeneous market into
different segments of buyers. Each segment have individuals who have similar
interests. The interests of each segment may vary with regard to products. So it
would not be wise to offer them with the same marketing mix. It should be
tailored to fit the needs of each segment. Hence, detailed studies are conducted
and the results are evaluated in a proper manner, before evolving a market
segmentation strategy. Read more on psychographic segmentation.
What is Geographic Segmentation?
As mentioned earlier, marketing segmentation can be based on any factor, like
culture, economic status, geographic differences, etc. If the market
segmentation is based on geographic units, it is called geographic
segmentation. As per the dictionary of marketing terms, geographic
segmentation definition is as follows: Market segmentation strategy whereby
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15. the intended audience for a given product is divided according to geographic
units, such as nations, states, regions, counties, cities, or neighborhoods.
Marketers will tailor marketing programs to fit the needs of individual
geographic areas, localizing the products, advertising, and sales effort to
geographic differences in needs and wants. Geographic segmentation can be a
very important process, especially for multinational businesses with global
brands. They have to formulate different marketing programs, which are
intended to lure the customers of different geographic units, which are formed
after careful study and evaluation. It may also happen that the products,
advertising techniques or means of promotion vary with the different
geographic units, as per the taste of the customers that are categorized to form
that unit. For example, a global business organization which specializes in
clothing may divide the market on the basis of the climate. This geographic
segmentation of the market results in the sale of winter clothes in a country
with cold weather, but at the same time may promote other types of clothing in
some other country. Hence, geographic segmentation variables include regional
climate, population density, economic status, etc. Read more on
Geographic segmentation and profiling are very vital processes of marketing
strategy, as they are formulated after conducting detailed studies of the
customers who belong to different regional units. This type of market
segmentation can be beneficial to identify the preferences and needs of
customers in a particular region, as per the weather conditions, lifestyle,
culture, etc. However, though it misses out other factors like age, gender,
income, etc, geographic segmentation can make a huge difference in the
success of a global company.
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16. Demographic Segmentation
A major tool in marketing, demographic segmentation is one of the easiest
segmentation strategies to tap the potential market without wasting your
resources. To know more about demographic segmentation and its variables,
read on....
n marketing, it is very difficult for a single organization to satisfy the needs of
all consumers, and hence the organization has to resort to market segmentation.
Through market segmentation, the organization fulfills the needs of all
consumers belonging to a particular niche instead of trying to fulfill the needs
of the entire market which is virtually impossible. Before we move on to
demographic segmentation, let's take a brief overview of market segmentation
as a whole.
Why Segment Your Market?
Market segmentation is basically the division of market into smaller segments
in order to make marketing easier and avoid wastage of resources. The market
is divided using one of the five segmentation strategies, namely behavior
segmentation, benefit segmentation, psychographic segmentation, geographic
segmentation and demographic segmentation. In case of geographic
segmentation, the market is divided into various geographical regions. As a
dealer of air cooling systems, geographic segmentation will help you target the
tropical market wherein the consumer is expected to buy air coolers instead of
targeting the colder regions away from the equator wherein air coolers are of
no use. Market segmentation will help you identify your consumers and access
them easily. It will basically help you tap the given resources, to satisfy the
needs of a particular section of the market you cater to.
Demographic Segmentation: Definition
Demographic segmentation is basically market segmentation executed by
taking various demographic factors, such as age, gender, social class etc., into
consideration. This helps the organization to divide the market into several
groups, each having a common variable, and target each of these groups to
enhance the performance of the organization. The word demographic is derived
from the word demography, meaning study of population. This market
segmentation strategy aims at understanding the prospective market, and taking
necessary steps to ensure that the consumer needs of a targeted group is
fulfilled.
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17. Demographic Segmentation Variables
Segmentation variables are basically factors which help the organization to
determine the target group. In demographic segmentation, variables mainly
consist of demographic factors such as age, ethnicity, occupation etc. Below we
have given a list of demographic segmentation variables which are commonly
used to divide the market into smaller segments.
• Age
• Gender
• Family size
• Family life cycle
• Income
• Occupation
• Education
• Ethnicity
• Nationality
• Religion
• Social standards
Based on these variables, an organization can decide which group would they
cater to. For instance, an organization dealing in sports cars, will have to target
the age group between 20 and 40 years, while an organization dealing in
women magazines will focus on targeting the female gender.
Demographic Segmentation Advantages
One of the most popular method of market segmentation, demographic
segmentation has some benefits which make it the first choice in the marketing
strategies of various organizations. These advantages of demographic
segmentation are
• The organization can easily categorize the wants of the consumers on
the basis of demographic factors such as age, gender etc.
• Demographic segmentation variables are much easier to obtain and
measure compared to the variables of other segmentation strategies.
For more information on marketing, you should also go through Successful
Marketing Strategies.
Demographic segmentation helps the organization in understanding the
customers and satisfying their needs. In a market driven by intense
competition, market segmentation analysis can be of great help indeed. This
segmentation is basically based on the simple fact that you can't please all
consumers with a single product, you will have to identify the potential market,
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18. divide it into various segments and cater to the needs of each segment in order
to become a successful business entity.
The following four variables are examples of demographic factors used in
market segmentation:
1. Age : Consumer needs and wants change with age. The marketing mix
may therefore need to be adapted depending on which age segment or
segments are being targeted.
With a plethora of anti-ageing products flooding the market, catering
for society's baby boomers would appear to be at the fore of new trends
within the cosmetics and toiletries industry. However, manufacturers
have also set their sights firmly at the other end of the spectrum, on the
tweens and teens market, as they increasingly segment products across
all age groups.
The underlying factor making Generation Y an ever attractive
demographic is its growing purchasing power. The trend is being
fuelled by higher disposable incomes resulting from more generous
allowances and teens opting to work part-time during schooling, less
reliance on parents to make purchases, and heightened media
awareness....
2. Gender : Dividing a market into different groups based on sex, has long been
common for many products including cosmetics, clothing and magazines. In
the 1960's car companies such as Toyota began to realise the purchasing
power of women, creating marketing campaigns, and then cars, specifically
targeted at the female market. Many suggest that the range of interior and
exterior colours schemes, and emphasis placed on safety factors by car
manufacturers today, is due to in no little part to their desire to market cars to
women, as well as men.
3. Life-cycle stage : Dividing a market into different groups based on which
stage in the life-cycle, presented in the table below, reflects the fact that
people change the goods and services they want and need over their lifetime.
Psychographic Segmentation
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19. There are many bases for dividing markets into particular segments. Psychographic
segmentation is one of the most important factors that must be kept in mind by the
marketer, in order to successfully gain and maintain market share.
Psychographic segmentation, or behavioral segmentation, is a method of dividing
markets on the bases of the psychology and lifestyle habits of customers. It is the
marketers and the sellers of products and commodities who use this technique in order
to decide their marketing strategy. Marketing a product requires a deep understanding
of the customers psychology, along with their needs, in order for the product to be
accepted. Marketers carry out a number of activities in order to better understand the
psyche and the habits of the customers, so that they can accurately predict the
response to the product they are selling, and thus make accurate sales projections.
Psychographic Segmentation Definition
Understanding this concept of market segmentation is not that hard once you see the
complete benefits of the concept. When a producer decides to market a product, he
has to realize that there are a lot of differences between customers of different
localities, ages and nationalities. Thus, he has to divide the market into various
segments, and target each segment individually so as to maximize sales. These
segments are divided on a variety of factors like age, sex, lifestyle, income level and
psychology and hence it plays on the psychology of the potential customers and helps
the seller determine how he must approach customers belonging to a particular
segment.
Psychographic variables are also known as IAO variables - Interests, Activities and
Opinions. The seller needs to analyze these 3 factors primarily in order to understand
the psyche of the customers. Then he can adopt a suitable marketing strategy, or he
can alter an existing marketing strategy. The habits that consumers generally display
with regard to a certain class of products will determine their reaction to the product
that a seller is offering them.
Psychographic Segmentation Variables
The variables that come into play in this scenario are primarily psychological in
nature. Here are some of the most common variables that fall under this category and
are well utilized by marketers and business organizations in order to enhance their
sales figures.
• Interests
• Activities
• Opinions
• Behavioral patterns
• Habits
• Lifestyle
• Perception of selling company
• Hobbies
• Using these factors as a base, a marketer can determine how a particular group
of customers will respond to the launch of a new product. This form of
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20. segmentation should not be confused with demographic segmentation, as
demographic segmentation primarily takes into consideration the age and the
gender of the targeted customer group.
Psychographic Segmentation Example
Consider a company that manufactures high-end luxury cars. This is a
product that cannot be afforded by people from every income group.
Only individuals falling in high income groups are realistic customers of
this specific product. That is the primary basis of segmentation for the
car manufacturer, that forms the basis of their marketing plan.
Within the high income bracket, the car manufacturer must now decide
how he should go about the segmentation process. He will analyze the
habits and lifestyles of his existing customers, and even those of the
customers of his direct rivals. Soon he will see that some customers use
these luxury cars as status symbols, some use them as utility vehicles,
and some use them for long distance drives. Understanding the usage of
a particular vehicle will provide the basis for the marketing of a product.
Users who prefer long drives will be shown the highlighted fuel
efficiency of the vehicle, people who use the car sparingly just for
prestige purposes will be told about the excellent looks and prestige of
the car model and the brand, and people who use them for other
purposes will be informed about the interior space, the handling, the
braking system etc.
The art of marketing is such that the marketer needs to highlight that
part of the commodity that appeals most to a particular customer, and
tell him the features of the product and how it will benefit him, as a part
of the advertising process.
Psychographic Segmentation Advantages
Apart from the obvious advantage of increased sales, there are a few
other intricate benefits of this form of segmentation for marketers as
well.
• Increased brand value of the company in the eyes of the customer.
• Greater usefulness of the product for the customer.
• Better inputs for the design of new products that the customer will like.
• Lesser amount of money spent on marketing, as it is now more specific.
• Easier to target a specific type of customer base.
• Simpler to derive effective and efficient marketing strategy.
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21. • Greater degree of customer satisfaction and customer loyalty, resulting
in higher amount of customer retention.
All of these advantages are well-known to any marketer who wishes to sell his
product. The scale of production and the size of the company are irrelevant
when this concept comes into play. Even the smallest scale marketer knows the
benefits of this segmentation, and he will apply it to this marketing strategy,
either knowingly or unknowingly in order to enhance his business.
Psychographic segmentation divides the market into groups based on social
class, lifestyle and personality characteristics. It is based on the assumption that
the types of products and brands an individual purchases will reflect that
persons characteristics and patterns of living.
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22. Behavioral Segmentation
Behavioral segmentation is based on actual customer behavior toward products.
Some behavioralistic variables include:
• Benefits sought
• Usage rate
• Brand loyalty
• User status: potential, first-time, regular, etc.
• Readiness to buy
• Occasions: holidays and events that stimulate purchases
Behavioral segmentation has the advantage of using variables that are closely
related to the product itself. It is a fairly direct starting point for market
segmentation.
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23. Product Positioning
Positioning has come to mean the process by which marketers try to
create an image or identify in the minds of their target market for its
product, brand or organization.
There are to types of products positioning:
Re-positioning involves changing identify of a product, relative to the
identity of competing products in the collective minds of the target
market.
De-positioning involves attempting to change the identity of competing
products, relative to the identity of your own product, in the collective
minds of the targets market.
There are many brands in Bangladesh but their products not for all
class people because some of their product is high quality and some
low quality. On the other hands our product is standard and
reasonable for all class customers. It is made by 100% cotton, good
looking attractive to look at not harmful for human skin.
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24. Marketing Mix
The marketing mix is a business tool used in marketing products. "Marketing mix" is
a general phrase used to describe the different kinds of choices organizations have to
make in the whole process of bringing a product or service to market. The 4 Ps is one
way – probably the best-known way – of defining the marketing mix, and was first
expressed in 1960 by E J McCarthy. These four elements are adjusted until the right
combination is found that serves the needs of the product's customers, while
generating optimum income. Sometimes the first P (Product) is substituted by
presentation
Marketing professionals and specialist use many tactics to attract and retain their
customers. These activities comprise of different concepts, the most important one
being the marketing mix. There are two concepts for marketing mix: 4P. It is essential
to balance the 4Ps of the marketing mix. The concept of 4Ps has been long used for
the product industry while the latter has emerged as a successful proposition for the
services industry.
The 4P of the marketing mix can be discussed as:
Product
Types of product
a product is anything that can be offered to a market that might satisfy a want or need
product can be divided into-
A good- something tangible, something you can touch and use (e.g. a television)
A service – usually intangible, something other people do for you (e. g. entertainment
from a film you watch)
Product can be divided into two types-
1. Consumer product
2. Business product
Our product is T-shirt. It is a tangible and consumer product.
Price
Pricing must be competitive and must entail profit. The pricing strategy can comprise
discounts, offers and the like. Our product price is reasonable for all class people price
of our product is 450 tk.
Place
It refers to the place where the customers can buy the product and how the product
reaches out to that place. This is done through different channels, like Internet,
wholesalers and retailers. Because of our product for all class customer so it will be
available in every city.
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25. Promotion
It includes the various ways of communicating to the customers of what the company
has to offer. It is about communicating about the benefits of using a particular product
or service rather than just talking about its features. We will advertised our product by
TV, Bill board, Leaflet, Magazine and online etc.
Physical (evidence)
It refers to the experience of using a product or service. When a service goes out to
the customer, it is essential that you help him see what he is buying or not. For
example- brochures, pamphlets etc serve this purpose.
Figure 1: 4 Ps
Product
In general, the product is defined as a "thing produced by labor or effort" or the
"result of an act or a process", and stems from the verb produce, from the Latin
prōdūce(re) '(to) lead or bring forth'. Since 1575, the word "product" has referred to
anything produced. Since 1695, the word has referred to "thing or things produced".
In economics and commerce, products belong to a broader category of goods. The
economic meaning of product was first used by political economist Adam Smith.
In marketing, a product is anything that can be offered to a market that might satisfy a
want or need.[5]
In retailing, products are called merchandise. In manufacturing,
products are purchased as raw materials and sold as finished goods. Commodities are
usually raw materials such as metals and agricultural products, but a commodity can
also be anything widely available in the open market. In project management,
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26. products are the formal definition of the project deliverables that make up or
contribute to delivering the objectives of the project. In insurance, the policies are
considered products offered for sale by the insurance company that created the
contract.
• What does the customer want from the product/service? What needs does it
satisfy?
• What features does it have to meet these needs?
• Are there any features you've missed out?
• Are you including costly features that the customer won't actually use?
• How and where will the customer use it?
• What does it look like? How will customers experience it?
• What size(s), color(s), and so on, should it be?
• What is it to be called?
• How is it branded?
• How is it differentiated versus your competitors?
• What is the most it can cost to provide, and still be sold sufficiently
profitably?
Price
The price is the amount a customer pays for the product. The price is very important
as it determines the company's profit and hence, survival. Adjusting the price has a
profound impact on the marketing strategy, and depending on the price elasticity of
the product, often; it will affect the demand and sales as well. The marketer should set
a price that complements the other elements of the marketing mix.
When setting a price, the marketer must be aware of the customer perceived value for
the product. Three basic pricing strategies are: market skimming pricing, marketing
penetration pricing and neutral pricing. The 'reference value' (where the consumer
refers to the prices of competing products) and the 'differential value' (the consumer's
view of this product's attributes versus the attributes of other products) must be taken
into account.
• What is the value of the product or service to the buyer?
• Are there established price points for products or services in this area?
• Is the customer price sensitive? Will a small decrease in price gain you extra
market share? Or will a small increase be indiscernible, and so gain you extra
profit margin?
• What discounts should be offered to trade customers, or to other specific
segments of your market?
• How will your price compare with your competitors?
Place
Place refers to providing the product at a place which is convenient for consumers to
access. Place is synonymous with distribution. Various strategies such as intensive
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27. distribution, selective distribution, exclusive distribution, franchising can be used by
the marketer to complement the other aspects of the marketing mix.
• Where do buyers look for your product or service?
• If they look in a store, what kind? A specialist boutique or in a supermarket, or
both? Or online? Or direct, via a catalogue?
• How can you access the right distribution channels?
• Do you need to use a sales force? Or attend trade fairs? Or make online
submissions? Or send samples to catalogue companies?
• What do you competitors do, and how can you learn from that and/or
differentiate?
Promotion
Promotion represents all of the methods of communication that a marketer may use to
provide information to different parties about the product. Promotion comprises
elements such as: advertising, public relations, personal selling and sales promotion.
Advertising covers any communication that is paid for, from cinema commercials,
radio and Internet advertisements through print media and billboards. Public relations
is where the communication is not directly paid for and includes press releases,
sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word-
of-mouth is any apparently informal communication about the product by ordinary
individuals, satisfied customers or people specifically engaged to create word of
mouth momentum. Sales staff often plays an important role in word of mouth and
public relations.
• Where and when can you get across your marketing messages to your target
market?
• Will you reach your audience by advertising in the press, or on TV, or radio,
or on billboards? By using direct marketing mails hot? Through PR? On the
Internet?
• When is the best time to promote? Is there seasonality in the market? Are there
any wider environmental issues that suggest or dictate the timing of your
market launch, or the timing of subsequent promotions?
• How do your competitors do their promotions? And how does that influence
your choice of promotional activity?
The 4Ps model is just one of many marketing mix lists that have been developed over
the years. And, whilst the questions we have listed above are key, they are just a
subset of the detailed probing that may be required to optimize your marketing mix.
Amongst the other marketing mix models have been developed over the years is
Boom and Bitner's 7Ps, sometimes called the extended marketing mix, which include
the first 4 Ps, plus people, processes and physical layout decisions.
Another marketing mix approach is Lauterborn's 4Cs, which presents the elements of
the marketing mix from the buyer's, rather than the seller's, perspective. It is made up
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28. of Customer needs and wants (the equivalent of product), Cost (price), Convenience
(place) and Communication (promotion). In this article, we focus on the 4Ps model as
it is the most well-recognized, and contains the core elements of a good marketing
mix.
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