Project By :: Ashwin Shetty 1204 Danish Rahim 1206

Faisal Qureshi 1207

Types of Data
 Primary Data and Secondary data  Quantitative and Qualitative data

Methods of data collection
 Experiments  Sample Surveys  Observational studies

 Data Analysis
 Statistics  Displaying Data

 Probability

Target Marketing
Target marketing requires marketers to take three major steps: Market segmentation: Identifying and profiling distinct groups of buyers who differ in their needs and preferences. Market targeting: Selecting one or more market segments to enter. Market positioning: Establishing and communicating the key distinctive benefit(s) of the company’s market offering to each target.

Target Marketing
Advantages

Easier analysis of potential and actual consumers
Tailoring of products to market Assessment of demand potential Identify competing products Increased sales effectiveness and cost efficiencies

Product positioning and easy identification of opportunities

Target Marketing Disadvantages Increased marketing costs Personalization can become burdensome to manage Faux segmentation may be viewed cynically Narrow segmentation can impact brand loyalty Ethics and stereotyping issues .

Market Segmentation  Differentiated  Concentrated  Undifferentiated .

Differentiated Marketing An organization targets multiple market segments and develops segment specific mixes .

Concentrated Marketing When an organization concentrates its marketing efforts on a smaller segment of a larger market .

Undifferentiated Marketing An organization develops one strategy appropriate for all members of the total market .

SEGMENTATION .

Geographic Segmentation  Nation or country  State or region  City or metro size  Density  Climate .

nationality  Generation  Social class .Demographic Segmentation  Age. education  Family size  Family life cycle  Occupation  Religion. gender  Income. race.

Psychographic Segmentation  Lifestyle Activities Interests Opinions  Personality  Core values .

Behavioral Segmentaion  Occasions  Benefits  User status  Usage rate  Loyalty status  Buyer-readiness  Attitude .

Marketing Unit .

Target Market .A specific group of consumers at which a company aims its products and services .

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the more successful they will be in delivering products and services that are in demand .The better a company is at identifying their potential consumers.

Your target consumers are those who are most likely to buy from you .

Focusing on a target market makes it easier to develop products people want .

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Project 1:: Mc Donalds Project 2 :: Canine Apparals .

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Is your product international. national. or local in scope? .

Are your target consumers male or female? .

How old are they? .

or divorced ? .Are you target consumers single. married.

What level of education has your target consumers completed: high school. college. or university? .

Where do they live? .

Is geography a limiting factor for any reason? .

What do they do for a living? .

How much money do they make? This is most significant if you're selling relatively expensive or luxury items. .

What is there lifestyle like: conservative. exciting. economical? . trendy.

Are your target consumers easily led or opinionated? .

physical fitness. shopping.What are your target consumers activities and interests: sports. books? .

What other aspects of their lives matter? .

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To satisfy basic needs .

To solve problems .

To make themselves feel good .

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allowing product managers to get a feel for which aspects of the product are the strongest .Creating the target market may require the use of limited product roll-outs and focus groups.

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Roll Out .The process of introducing a new product or service into the marketplace .

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Focus Group . for its members' opinions about or emotional response to a particular subject or area.A small group selected from a wider population and sampled. used especially in market research or political analysis . as by open discussion.

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No single product can meet everyone’s needs More than 30 different varieties/flavors .

Not all products and services are meant for all types of consumers .

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pricing and distribution of your products and/or services easier and more cost-effective .The beauty of target marketing is that it makes the promotion.

answers.freedigitalphotos.about.com/imghp?hl=en&tab=wi **Please notice pictures are sited with artist name.net/ http://www.entrepreneur. All pictures not cited with artist name were obtained from Google images.google. .Resources http://www.com/topic/focusgroup#ixzz1HQx89zFu http://www.com/cs/marketing/a/targetm arket_2.html http://sbinfocanada.com/encyclopedia/term/8249 8.htm http://www.

Thank You .