Marks And Spencer Market Segmentation Strategies

Feedback can result in subtle or drastic adjustments or none at all” (2023). Communication is also a good quality when it comes to youth. Being able to communicate with the younger generations, will help the younger children to understand more clearly. In support of this, one of my other personal experiences about communication is when I was testing for my blue belt (ninth belt) and I have always had just this one struggle on one of my forms. After the test, she told me what I had done wrong, and what I could do to improve it.

An example of demographic segmentation is being used in the automobile market. This is done on the basis of income from a household. Suzuki has a low-price bracket for their cars whereas BMW have a high price bracket so it targets high end buyers who are willing to spend more money. BMW have segmented a market by differentiating their products. Comparing it to Suzuki, BMW allow customers to design their car such as the seat material, colour, wheels and engine.

These messages enclose information, and the senders of these messages intend particular meanings to reach the receiver of the message, who will then attribute a meaning to the message. The intended meaning may be varying from the meaning attribute to the message by the receiver. This is not only due to the words was used but also by the non-verbal messages that are also sent (Fielding, 1995). Heath (1997) stated that communication occurs in various ways and at diverse levels of awareness. Barber (1993, cited in Heath, 1997) states that communication is that sharing understandings and involves openness to the enquiry of another person, having attention, perception, receptivity and empathy towards that person.

Communication is the process of transferring of information. Viswanathan (2010) says communication can take many forms of verbal and non-verbal methods which may include speaking, writing, gestures, expressions, listening and body language to name a few. All of these things should be taken into consideration to ensure an effective means of sending and receiving information. How and what information is sent may not be received in the same manner intended.

Answer: (a): Market segmentation is the first step in defining and selecting a target market to pursue and penetrate. Basically, market segmentation is the process of splitting up an overall market into two or more groups/classes of consumers. Each group of consumers is called as a market segment. Each group (or market segment) should be similar in terms of certain characteristics or product/ service needs. In business world, market segmentation is considered to be a most important tool in enabling marketers to better meet customer needs and requirements.

For the business-level, Trader Joe’s adopted a differentiation focus strategy. According to our textbook with this strategy, Trader Joe’s seeks to differentiate in its target market. They rely on providing better service than broad-based competitors. Specifically, they focus on the special needs of the buyer in other segments (Dess, Page 159). Joe’s differentiates its self from other grocers by providing a unique shopping experience fortified with their private label goods and great service from their crew members.

From my interpersonal communication profile I have decided that I would like to improve in the category of giving and getting feedback. I wasn 't surprised that I scored lower in this category as I like to avoid the potential conflict of giving someone feedback they may not like. Even when you don 't mean to offend someone they can still take the feedback you have given them the wrong way. For the most part I am very open and receptive of getting feedback.

Political Analysis and Factors The Food and Drug Administration (FDA) regards non-alcoholic beverages such as Coca Cola as within the food category. The government regulates the manufacturing procedure of these products. Companies that fail to meet the government 's standards are subject to fines. Coca Cola is also subject to the Occupational Safety and Health Act and to local, state, federal, and foreign environmental regulation.

Purpose and process of market segmentation The purpose of segmentation is to allow the marketer to be better able to reach the consumer needs and wants which increases the positive responses for the brand. Segmentation is important during the promotion process, this is where the team decided who what and where as well as, age gender and things like buying patterns. Because of this, marketing g segmentation comes before targeting. By dividing the audience, it makes it easier to target exactly who and where to send the devices or what to do with their next model.

Communication can be built if there is an understanding between speaker and the hearer in other word, the source person and target person. The main aim is to indicate something or some relations or even some ideas, and it can be shown or called as its meaning. In this case, meaning is important and significant. If the hearer cannot comprehend the meaning of the speaker try to reveal, the meaning won’t be delivered smoothly.

Market are segmented in order to make it easier for businesses to target these segments according to the features and habits they exhibit. These segments must be definable, specific, profitable, and is has room to grow. The following outlines the segmentation for the market of Mercedes Benz broken down into demographic, behavioral and psychographic segmentation. Demographic Segmentation: Markets can be segmented by geography where the business would market its offering towards individuals living in a certain area.

In terms of controlling, the management of Marks and Spencer has frequent reporting of expenditures with costs to provide a form of feedback. The reactions of managers to such type of data rely on the expectations or the formal budget or planned targets. The management believes in collecting and assigning cost data that is being shifted away from control. There is a recognition related to the repetitive exercise of planning and re-planning for creating a full time job for accountants. The assessment and evaluation of cost data in the aspects of launching new product by Marks and Spencer is about gaining insights and learning ways for achieving the goals of organisation in most effective manner.

According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.

1. MARKAT SEGMENTATION Market segmentation is a strategy that is generally used by a company to identify and define the target customers, and provide the supporting data for the marketing plan elements. There are five types of market segmentation which are demographic segmentation, geographic segmentation, psychographic segmentation, benefits segmentation and volume segmentation. • Demographic Segmentation Demographic segmentation is market segmentation according to age, family size, religion, race, gender, income and education. By using this segmentation, a company can categorize the needs of consumers more easily and target its consumers more accurately because demographics can segmented into several markets.

POWERFUL COMMUNICATION Communication is a transaction between two or more people which involves a sender, a message, a channel and a recipient. Every element of the communication transaction has an effect on what is being communicated and the flow of communication; the sender’s tone, the wording of the message, the selection of the channel and the recipient's understanding. This leads me to say that communication is much more than a transaction that involves a sender, message, channel and recipient. There are so many non-tangible elements of communication and this is what is called the psychology of communication.