A market segment is a subgroup of people or organizations that have one or more characteristics in common that cause them to have the same product needs. Everyone needs water to drink, but does everyone need bottled water? For companies to successfully reach their precise customer, they need to divide a market into similar and identifiable segments through market segmentation.
The main reason companies divide markets into identifiable groups is so that the marketing team can create a custom marketing mix for the specific group. For example, Farmer Joseph realized early on that not everyone would purchase his expensive organic produce. He did not want to exhaust his financial budget by advertising to the masses. Instead, he identified his target market and created a specific marketing plan to communicate effectively with his prime customers.
His target market consisted of females age 18-65, with an income of $50,000+, who have healthy eating habits and who are concerned about pesticides. His plan consisted of ad placement in local women's magazines, newspapers and also email blasts to a list that he formulated with age and income specifics. Lastly, he advertised with a local gym about his healthy produce. Marketers have numerous choices in how they can segment a market.
If the farmer had planned on targeting everyone, then the type of segmentation would have been called no market segmentation. The opposite type of segmentation would be if he decided to target based on every individual factor available. This would be called a fully segmented market. Other choices include segmenting just by gender, income, lifestyle, ethnicity, family life cycle, age group, or even a combination-type.
Companies will not survive if the marketing strategy is dependent upon targeting an entire mass market. The importance of market segmentation is that it allows a business to precisely reach a consumer with specific needs and wants. In the long run, this benefits the company because they are able to use their corporate resources more effectively and make better strategic marketing decisions.
Based on the amounts that you are offered and their present values, the offer you should pick is Birr 10,000 in 12 years.
<h3>Which offer should you pick?</h3>
You should pick the offer with the highest present value.
Offer 1 present value:
= Birr 1,000
Offer 2 present value:
= 10,000 / (1 + 11%)²
= Birr 2,858
Offer 3 present value:
= 25,000 / (1 + 11%)³
= Birr 1,840
In conclusion, option 2 has the highest present value and so should be picked.
Find out more on present value calculations at brainly.com/question/27821989.
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Answer:
B. ask you boss which stuff takes priority and then make a list to remember.
Explanation:
According to the Phillips curve analysis, disinflation happens when the actual rate of inflation is initially lower than the expected rate, temporarily raising the unemployment rate. However, as nominal wages decline, the unemployment rate will fall to its natural level and the actual and expected rates of inflation will balance out.
Disinflation refers to occurrences where the inflation rate has temporarily slowed and is used to indicate situations where it has only slightly decreased. Disinflation refers to the rate of change in the rate of inflation, as opposed to inflation and deflation, which talk about the direction of prices.
To learn more about Disinflation here
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knowing how to work with heavy machinery
