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.
D) a Japanese stores selling tea and spices from South Asia
A food surplus in a society can lead to many different things. But based on the principles of supply and demand a surplus of food should lead to a reduction in the price of food, because the quantity supplied is most likely higher than the quantity demanded. In addition a food surplus could lead a country or companies to sell their food surplus internationally or to "dump" the goods on another country or market by selling the goods for a very cheap price most likely lower than the price of the good in that market prior to the entry of this new producer or country with the food surplus.
Answer: strategic techniques
Explanation:
Alysha Johnson is a manager who communicates effectively, successfully motivates and leads her workers, and allows them leeway in making decisions. Copeland is said to have good strategic techniques.
Strategic management techniques is necessary for organizations as it helps them plan and also implement projects in a.way that the company's mission and goals.will be achievable. Copeland is utilizing this technique well as he communicates with the workers so that company's goals can be achieved.
Answer:
<em>Disparate-impact discrimination</em>
Explanation:
As we can see in the given scenario, that Nell believes that the test has an unintentionally discriminatory effect as he fails in the test taken by the company, so this discriminating act that was made by the Origami Paper Corporation is a <u>disparate-impact discrimination</u>.
<em>Because as we know that if someone is been discriminated unintentionally, then it comes under disparate-impact discrimination.</em>
