Retail Management -- Tips

  • . You will most likely need to collect some background data about market segments, existing marketing activities and service procedures in use.
  • . It is expected that you will have separate recommendations for separate segments.

    Market Segmentation
  • | Market Segmentation A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will respond similarly to a marketing action.
  • . For example, an athletic footwear company might have market segments for basketball players and long-distance runners.

    Activities&Responsibilities - Social Marketing - E-Learning Tools - Section 2: Market Segmentation and Target Marketing
  • . Segmenting the Market Markets can be populations of: Individuals Groups Organizations Market segmentation is the division of the total market into relatively homogeneous, but distinct segments.
  • . It is used to identify target audiences and strengthen a campaign's effectiveness in reaching selected segments.
  • . Segments usually respond to campaign elements differently and different techniques are required to reach and motivate various segments.
  • . This model tends to divide populations into segments with common knowledge, attitudes, beliefs and behaviors relative to the issue at hand.
  • . Part of the research was a psychographic analysis, which segmented the market based on: Current behaviour Perceptions of the benefits of healthy eating and physical activity Need for information on healthy living subjects Current actions/intentions to improve their families' health Four different segments, with different levels of commitment to healthy living and with different information needs, were identified.

    MP Target
  • . Keep in mind any segments in define a market will be reflected in the list.


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    Marketing Systems: Marketing Performance Metrics
  • . Customer value metrics estimate future purchases by individual customers and customer segments.
  • . Companies typically do this analysis for customer segments in addition to looking at the overall averages.
  • . Breaking them out distinguishes the impact of changes in the customer mix from changes in behavior within individual segments.

    Online TDM Encyclopedia - TDM Marketing
  • . With so many market segments in modern western cultures, repositioning efforts may ultimately entail multiple services, to give each segment status on parameters they feel appropriate, But two major points still stand: * it is often not possible to mix services for different market segments (e.g., the transportation disadvantaged and the upscale commuter) * status must be gleaned by consumers of a travel mode Consumer Research Required .

    The ABCs of database marketing
  • . PROFILING If statistical modeling is predictive, profiling is descriptive-it's an umbrella phrase for any of several methods of analyzing your database so that you can describe the characteristics of buyer segments.
  • . CLUSTERING This method of profiling is "very good for taking the mass of information you may have about customers, " Ruf says, "and grouping market segments together that you can then develop strategies around." You can cluster customers by age group, SIC, income or sales level, geography, and other variables to create a demographic or psychographic profile of your most sizable segments of customers.

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