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Stages of Segmentation
Identify the target market
The first and foremost step is to identify the target market. The marketers must be very clear about who all should be included in a common segment. Make sure the individuals have something in common. A male and a female can’t be included in one segment as they have different needs and expectations.
Identify expectations of Target Audience
Once the target market is decided, it is essential to find out the needs of the target audience. The product must meet the expectations of the individuals. The marketer must interact with the target audience to know more about their interests and demands.
Create Subgroups
The organizations should ensure their target market is well defined. Create subgroups within groups for effective results.
34) The consumer market is the individuals and households buying goods or services for personal consumption. Factors have a great influence on behavior of the buyer upon purchase of goods cultural (culture, subculture, a social status), social (reference groups, a family, roles and the statuses), personal (age, sex, a way of life, etc.) and psychological (motivation, perception, assimilation, belief, the relations) character.
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36) A strategy is a long-term plan to achieve certain objectives. A marketing strategy is therefore a marketing plan designed to achieve marketing objectives. For example, marketing objective may relate to becoming the market leader by delighting customers. The strategic plan therefore is the detailed planning involving marketing research, and then developing a marketing mix to delight customers. Every organization needs to have clear marketing objectives, and the major route to achieving organizational goals will depend on strategy.
Selection of the target market segments - an assessment and selection of one or several segments of the market for an exit to them with the goods.
37) Selection of the target market segments - an assessment and selection of one or several segments of the market for an exit to them with the goods.
The selection of target markets is the second major phase of the STP process, as shown in the diagram below. (Where STP stands for segmentation, targeting and positioning.)
As shown, firms initially segment the market and, as part of this process, construct segment profiles for each segment. Included in a segment profile is a detailed description of the segment, along with various size and profit measures. Using this information in conjunction with the firm’s strategy, resources and goals organization appropriate target markets can then be selected.
The selection of a target market is a very important decision for a firm as it then requires significant effort and commitment to implement an appropriate and targeted marketing mix. Target market selection is a key part of marketing strategy and typically involves significant analysis, discussion and review throughout the firm.
38) The consumer market is the individuals and households buying goods or services for personal consumption. Factors have a great influence on behavior of the buyer upon purchase of goods cultural (culture, subculture, a social status), social (reference groups, a family, roles and the statuses), personal (age, sex, a way of life, etc.) and psychological (motivation, perception, assimilation, belief, the relations) character.
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40) In economics, goods and services are the outcome of human efforts to meet the wants and needs of people. Economic output is divided into physical goods and intangible services. Goods are items that can be seen and touched, such as books, pens, salt, shoes, hats, and folders. Services are provided by other people, such as doctors, lawn care workers, dentists, barbers and waiters. Consumption of goods and services is assumed to provide utility (satisfaction) to the consumer.
A GOOD is an object people want that they can touch or hold. A SERVICE is an action that a person does for someone else. Examples: Goods are items you buy, such as food, clothing, toys, furniture, and toothpaste. Services are actions such as haircuts, medical check-ups, mail delivery, car repair, and teaching.
Goods are tangible objects that satisfy people's wants. Services are actions, such as haircuts and car repair, which also satisfy people's wants. A key point to emphasize to young children is that goods and services must be produced - they don't appear magically on store shelves. Similarly, they are produced using scarce productive resources (natural, human, and capital); thus, the goods and services themselves are considered scarce.
41) In economics, goods is the outcome of human efforts to meet the wants and needs of people. Economic output is divided into physical goods and intangible services. Goods are items that can be seen and touched, such as books, pens, salt, shoes, hats, and folders. Services are provided by other people, such as doctors, lawn care workers, dentists, barbers and waiters. Consumption of goods and services is assumed to provide utility (satisfaction) to the consumer.
A GOOD is an object people want that they can touch or hold. Examples: Goods are items you buy, such as food, clothing, toys, furniture, and toothpaste.
Goods are tangible objects that satisfy people's wants. Services are actions, such as haircuts and car repair, which also satisfy people's wants. A key point to emphasize to young children is that goods and services must be produced - they don't appear magically on store shelves. Similarly, they are produced using scarce productive resources (natural, human, and capital); thus, the goods and services themselves are considered scarce.
42) In economics, goods and services are the outcome of human efforts to meet the wants and needs of people. Economic output is divided into physical goods and intangible services. Goods are items that can be seen and touched, such as books, pens, salt, shoes, hats, and folders. Services are provided by other people, such as doctors, lawn care workers, dentists, barbers and waiters. Consumption of goods and services is assumed to provide utility (satisfaction) to the consumer.
A GOOD is an object people want that they can touch or hold. A SERVICE is an action that a person does for someone else. Examples: Goods are items you buy, such as food, clothing, toys, furniture, and toothpaste. Services are actions such as haircuts, medical check-ups, mail delivery, car repair, and teaching.
Goods are tangible objects that satisfy people's wants. Services are actions, such as haircuts and car repair, which also satisfy people's wants. A key point to emphasize to young children is that goods and services must be produced - they don't appear magically on store shelves. Similarly, they are produced using scarce productive resources (natural, human, and capital); thus, the goods and services themselves are considered scarce.
43) The commodity policy is the central link of activity of the enterprise since by means of goods the main goal of firm – receiving profit is achieved. The purpose of commodity policy — to achieve the balanced commodity range and competitiveness of each separate product, and also:
· providing profit;
· increase in commodity turnover;
· increase in a share of the market;
· decrease in expenses on production and marketing;
· image increase;
· dispersion of risk.
Problems of commodity policy – decision-making in the field of the goods offered by the enterprise concerning products, their presence in the market, and also decisions on the production program connected with it.
44) The commodity policy is connected with realization in practice of the first element of a complex of marketing - a product (goods). It provides the solution of the tasks connected by what to make for whom to make in what look to make etc. The main feature of commodity policy in marketing is its orientation on satisfaction of needs of buyers. External need of buyers, but not internal production capabilities of firm is primary here. Thus the concept "quality of goods" is at the first place in commodity policy. One of the main functions of commodity policy consists in revealing (or to create) an imbalance between the real and perceived quality of goods, having turned it into a source of receiving arrived. Therefore the commodity policy has essential distinctions in consumer and industrial marketing.
45) ConceptofMoney
Money
-as anything authorized by law.
-generally accepted as medium of exchange.
-one form in which we keep our wealth.
-As defined by Farlex Dictionary, Money is a Currency and coin that are guaranteed as legal tender by the government.
46) In the international marketing the price policy is based on the same factors that determine the price and in domestic market - expenses, demand and the competition. Feature of pricing in the international marketing consists in need of the accounting of such specific factor, as degree of freedom of the seller in the field of establishment of the prices. Action of this factor is caused by possible intervention of the governments by administrative control of the prices. Besides, complexity of pricing in the international marketing is defined also by that the price here - size essentially unstable. Besides the listed four factors influence it a cycle in which there is a world economy; market condition; variable exchange rates. Therefore firms consider that for success in a foreign market it is necessary to correct price policy as required.
There are three main objectives of pricing:
• increase in a share of the market;
• increase in profit;
• deduction of the existing positions.
47) Price - element inherent in any type of economy based on commodity-money relations, as mediates them, but the prices are formed and operate in different systems in different ways. Since price is one of the levers of control processes in the economy, it is closely related to the type of management - pricing methodology, properties, functions and prices correspond to the mechanism of functioning management system.
In a market economy, each company and its owners are taking their own production and economic decisions: what, where, when and how much to produce, to whom, at what price and on what terms to sell. Communication between businesses free, so labor, material and financial resources (as part of the total resources of society) are included in the production process owners of enterprises, respectively, they are responsible for all decisions and actions. Mechanism of regulation of enterprises is based on the use of economic instruments, such as financial and credit system, tax, customs, investment and fiscal policies, so the market economy requires a completely different pricing: principles and models are qualitatively different prices - price plays a major role structure is determined is The Heart of market self-regulation and is characterized by the following points.
48) The product life-cycle is a series of different stages a product goes through, beginning from its introduction into the market and ending at its discontinuation and unavailability.
The product life cycle has 4 very clearly defined stages:
Introduction Stage – in this stage, the firm seeks to build product awareness and develop a market for the product.
Growth Stage - in this stage, the firm seeks to build brand preference and increase market share.
Maturity Stage - at maturity, the strong growth in sales diminishes. Competition may appear with similar products. The primary objective at this point is to defend market share while maximizing profit.
Decline Stage - in this stage, decline in sales, change in trends and unfavorable economic conditions explains decline stage. At this stage market becomes saturated so sales declines. It may also be due technical obsolescence or customer taste has been changed.
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49) For firms operating in a market economy, is crucial information about the product life cycle. With information about the stages of the product life cycle, the company can make an appropriate decision on the development of consumer properties (improvement) of the goods, or removal to another market or discontinued.
Currently, there is a great diversity of definitions of "life cycle" of the goods. The analysis revealed three definitions approach to defining the product life cycle.
Some authors consider the product life cycle as "a period of time during which the product is in demand and revenue."
50) My future profession is accounting and auditing. Accountancy profession is one of the most ancient in the world. It appeared 6000 years ago, when primitive people began to control and register their economic activity. The ancient Egypt is considered to be a motherland of accounting. And Ancient Greece is well-known as a birthplace of accounting tools as abacus, just there the first money and coins were created.
In the early 90, when the privatization and various types of ownership forms widely spread, accounting became the most popular specialty, and now it is in high demand. Neither huge company and factory nor shops and banks can't work without accountant. The accountant does the work of the various types of accounting: accounting of fixed assets, the cost of production, payment to suppliers and customers, payroll and taxes. Accountant can work in enterprises of different ownership forms: public, shareholder, cooperative, private, carries out work on various types of accounting.
I think that the best candidate for this profession is a person who has such skills as responsibility, attentiveness, also he needs not to forget about good memory and logical thinking, he should be good at math and of course to be keen on accounting.
51) Most people like animals. They keep animals at home as pets. Pets may be different. People like dogs and cats, birds and hamsters, rabbits and hedgehogs, some people even like snakes.
But you can't keep any animals as a pet even if you like him very much. Can a crocodile make a good pet? Or a lion, or a tiger, or a bear? You may love them, but will they love you? Some day when they are big they may become dangerous.
As for me, I prefer dogs. They are so clever and truthful. When they look at you with their beautiful eyes it seems to you that they understand you but can't talk.
People teach dogs to understand commands, to do some tricks. And it think dogs teach people to be kinder, to think of others. People change for better when they keep pets.
Sure, pets need much care. You must keep the place where they sleep and eat tidy and clean, you must give them three meals a day. Dogs need more attention and care than cats. You must take then for walks at least two times a day.
52) Dry-cleaner (dry cleaning), professional dry cleaning — physical and chemical process of cleaning of products of textile materials with use of organic solvents. A basic purpose of dry cleaning — removal of dirt and spots which don't give in to cleaning at usual washing.
For the first time use of oil products for cleaning of clothes was offered the owner of a dye-house Jean Baptiste Joly (France, 1855). He noticed that the cloth in his house became purer after the maid spilled on it kerosene. Joly opened the very first dry-cleaner where cleared clothes kerosene.
In the beginning for a dry-cleaner oil products like gasoline and kerosene were used. Their easy inflammability led to the frequent fires and explosions. Problems of fire danger forced William Joseph Stoddard, the specialist in dry cleaning from Atlanta, to invent Stoddard's solvent. Its inflammability was much less, than at oil products.
After World War I started using various chlorinated solvents — they are less flammable, than oil products, and delete pollution better.
To the middle of the 1930th in dry cleaning started using tetrachlorethylene (tetrachloroethylene) as the standard of ideal solvent — it is steady, not flammable and excellently deletes pollution, practically without causing damage to clothes.
53) The origin of tourism can be considered ancient times. In ancient times as tourism it was accepted to consider trade, education, pilgrimage, treatment. In Ancient Greece also sports trips (Olympic Games) arose.
Tourism (from French - walk, a trip) arose as a product of development of a civilization. Tourism is first of all pleasure. Tourism in representation of most of people is connected with rest, new impressions, pleasure. It strongly entered human life with its natural aspiration to open and learn novel edges, nature sanctuaries, stories and cultures, customs and traditions of the different people.
It is less known that tourism is one of the largest highly profitable and most dynamic branches of economy. In the sphere of tourism over 250 million people, i.e. every tenth worker in the world are occupied. 7% of total amount of investments, 11% of world consumer expenses, 5% of all tax revenues and a third of world trade by services fall to its share. Tourism has huge impact on such key sectors of economy as transport and communication, trade, construction, agriculture, production of consumer goods and many others, acting as the catalyst of social and economic development. According to forecasts of experts the XXI century will become a century of tourism.
There are a lot of classification of tourism. First of all distinguish outbound, entrance and internal tourism.
Outbound tourism — is connected with movement of citizens of one country for another. Internal tourism — movement of tourists in one country. Entrance tourism — entrance of foreigners on the state territory. Depending on criterion by which travel is estimated, it is possible to allocate a set of classifications.
Tourism at the present stage in the Republic of Kazakhstan at a stage of rapid growth. A main objective of development of tourism in Kazakhstan is creation of a modern highly effective and competitive tourist complex, to integration into system of the world tourist market and development of further international cooperation in tourism.
54) Medicine (Latin medicina) — system of the scientific knowledge and practical measures united by the purpose of recognition, treatment and the prevention of diseases, preservation and promotion of health and working ability of people, extensions of life - with the right of refusal of treatment if threatens nothing to human life.
The word "medicine" comes from the Latin phrase ARS medicina — "medical art", "healing art" — and has the same root, as medeor verb, I "cure".
Asclepius is considered God of medicine and doctoring.
55) A cleaner is a type of industrial or domestic worker who cleans homes or commercial premises for payment. Unlike other servants, their primary task is cleaning. Cleaners may specialise in cleaning particular things or places, such as window cleaners. Cleaners often work when the people who otherwise occupy the space are not around. They may clean offices at night or houses during the workday.
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