Marketing Mix and Market Segmentation

Marketing mix
What is the marketing mix?
The marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan.
The flowing marketing four p elements product price place and promotion of marketing mix
The term “marketing mix” was first used in 1953 when Neil Borden, in his American Marketing Association presidential address, took the recipe idea one step further and coined tterm “marketing-mix. Marketing Mix is a major concept in modern marketing and involves practically everything that a marketing company can use to influence consumer perception favorably towards its product or services so that consumer and organizational objectives are attained, i.e. Marketing mix is a model of crafting and implementing marketing strategy. It is the same with the marketing mix. The offer you make to you customer can be altered by varying the mix elements. So for a high profile brand, increase the focus on promotion and desensitize the weight given to price. Another way to think about the marketing mix is to use the image of an artist’s palette.
Some commentators will increase the marketing mix to the Five P’s, to include Others will increase the mix to Seven P’s,
Price
There are many ways to price a product. Let’s have a look at some of them and try to understand the best policy/strategy in various situations.
Customers directly relate price to quality, particularly in case of products that are ego intensive of technology based. Sony being a company which emphasize product quality, it tends to sell its products with price range from moderately-high to high-prices, depending on the use and the targeted customers.
For example, Lets consider Sony series of VAIO laptops. Sony has tried to categorize the laptops according to style, user, purpose, mobility and performance, and each a corresponding price.
Another element of Neil Borden’s Marketing Mix is Place. Place is also known as channel, distribution, or intermediary. It is the mechanism through which goods and/or services are moved from the manufacturer/ service provider to the user or consumer.
Product
For many a product is simply the tangible, physical entity that they may be buying or selling. You buy a new car and that’s the product – simple! Or maybe not. When you buy a car, is the product more complex than you first thought? The Three Levels of a Product
The Product Life Cycle (PLC) is based upon the biological life cycle. For example, a seed is planted (introduction); it begins to sprout (growth);
The Customer Life Cycle (CLC) has obvious similarities with the Product Life Cycle (PLC). However, CLC focuses upon the creation of and delivery of lifetime value to the customer i.e. looks at the products or services that customers NEED throughout their live.
Promotion
Sales promotions for example includes free samples, discount, rebates, coupons, contents and sweepstakes, premiums, scratch cards, exchange offers, early bird prizes, etc.
Another one of the 4P’s is promotion. This includes all of the tools available to the marketer for ‘marketing communication’.
Sales promotion is a marketing discipline that utilizes a variety of incentives techniques to structure sales – related programs targeted to customers, trade, and/or sales levels that generate a specific, measurable action or response for a product or service.
People
People are the most important element of any service or experience. Services tend to be produced and consumed at the same moment, and aspects of the customer experience are altered
Public Relations and Publicity Public relations is a broad set of communication activities employed to create and maintain favourable relationship with employees, shareholders,to meet the ‘individual needs’ of the person consuming
Process
Process is another element of the extended marketing mix, or 7P’s.There are a number of perceptions of the concept of process within the business and marketing. For example – to achieve a 30% market share a company implements a marketing planning process. Limitation of Marketing Mix Analysis (4Ps of Marketing)
Despite the fact that marketing mix analysis is used as a synonym for the 4Ps of Marketing, it is criticised (Kotler & Armstrong, 2004) on the point that it caters seller’s view of market analysis not customers view. To tackle this criticism, Lauterborn (1990) attempted to match 4 Ps of marketing with 4 Cs of marketing to address consumer views:

Product – Customer Solution
Price – Customer Cost
Placement – Convenience
Promotion – Communication

How to Write a Good Marketing Mix Analysis
To follow a simple and best approach for marketing mix analysis, it is imperative to understand the purpose of this analysis. So the basic key is to analyse the company’s overall marketing strategy primarily through the strategies it follows under the 4Ps of marketing
Information for Marketing Mix Analysis
Students may seek information regarding market mix analysis (4 Ps) from two basic sources: market and academic. For market sources, information is easily available from a company’s website, business reports, newspapers/published data on marketing, independent market survey reports and, in some cases, students may visit a retail outlet to analyse a product, its pricing and promotional strategies. However, to get more specific details, marketing and advertising academic journals and secondary data in the form of case studies can be the ideal source.

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Developing the marketing mix Many non-profit organizations are skilled at event marketing . Events are organized to raise the funds, including dinners, dances, coffee mornings, book ales, sponsored walks and others.The pricing god the services provided by non-profit organizations may not follow the guidelines applicable to profit oriented pricing. For example the price of CE curse organized by non-profit CE center for Gypsies may be held low to encourage poor families to take advantage of this opportunity. Some non-profit organization even provide free access to services.
Marketing in non-profit organizations
Non-profit organization attempt to achieve some other objectives than profit. This does not mean that they are uninterested in income as they have to generate cash to survive. However their primary goal is non – economic, e.g. to provide education.
Marketing is of growing importance to many non-profit organizations because of the need to generate funds in an increasingly competitive arena. Even organization who rely on government – sponsored grants need to show how their work is of benefit to society: they must meet the needs of their customers. Many non-profit organizations rely on membership fees or donations, which means that communication to individuals and organization .Marketing strategy
A strategy gives business a defined route to follow and a clear destination. Build a marketing strategy and you will ensure that marketing is a long-term way of working, not a one-off activity.
A marketing strategy provides organisation with shared vision of the future. All too often, an organisation will perform a marketing task, such a direct mail shot, then sit back and see what happens. A strategic approach will ensure that you maximise returns on your marketing spending and boost the profits of your organisation.
Strategic marketing manager

has a clear picture of the future
anticipates changes in the market
works towards clear long/term goals
Non-strategic marketing manager
lives day to day without planning
reacts to canges in the market
has only short-term objectives

During the creating of the marketing strategy the marketing manager should proceed as follows:

create the team
review current situation
set objectives
plan action

Market segmentation
Market segmentation is a concept in economics and marketing. A market segment is a sub-set of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function. A true market segment meets all of the following criteria: it is distinct from other segments (different segments have different needs), it is homogeneous within the segment (exhibits common needs); it responds similarly to a market stimulus, and it can be reached by a market intervention. The term is also used when consumers with identical product and/or service needs are “Positive” market segmentation.Market segmenting is dividing the market into groups of individual markets with similar wants or needs that a company divides the market into distinct groups who have distinct needs, wants, behaviour or who might want different products & services. Broadly, markets can be divided according to a number of general criteria, such as by industry or public versus private although industrial market segmentation is quite different from consumer market segmentation, both have similar objectives. All of these methods of segmentation are merely proxies for true segments, which don’t always fit into convenient demographic boundaries divided up into groups so they can be charged different amounts. These can broadly be viewed as ‘positive’ and ‘negative’ applications of the same idea, splitting up the market into smaller groups.
Market segmenting is dividing the market into groups of individual markets with similar wants or needs that a company divides the market into distinct groups who have distinct needs, wants, behavior or who might want different products & services.
Fig positive market segmentation in group.
Price Discrimination
Where a monopoly exists, the price of a product is likely to be higher than in a competitive market and the quantity sold less, generating monopoly profits for the seller.
Market Segmentation is Critical
Segmentation can make a huge difference in understanding your market. For example, when a local computer store defines its customer segments as “high-end home office” and “high-technology small business,” its segmentation says a lot about its customers. The segmentation helps the company plan its focus on the different types of potential customers
MANUFACTURER CUSTOMER RETAILER
Decisions with respect to distribution channel focus on making the product available in adequate quantities at places where customers are normally expected to shop for them to satisfy their needs. Depending on the nature of the product, marketing management decides to put into place an exclusive,
Summary
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Executive Summary3
In brief, this assignment is concerned about marketing management. It covers in details about the concept of marketing mix with the aid of Sony organization which I have taken as a case study in exploring the way this organization has applied the marketing mix.
In this assignment the following points are going to be discussed:

Sample List of Marketing Mix being used By the organization.
Find out if the marketing mix used by organization is satisfactory.
My suggestion to the organization concerning the marketing mix

Conclusion
The customer needs, usage and budgets, ajay has provided several home products ranging from small packages to big audio systems. They boast on their Hi-Fi which deliver rich music, made richer with preset equalizer  settings. Among other features which Sony boast to offer are like, multiple disc changers which for putting many discs at a go. Also, some even house additional features such as the ability to handle multiple formats, track programming and repeat and random play.
 

Market Segmentation of the Nike Company

Demographic Segmentation
Demography segmentation they include age, race, family income, and education level, among others. Besides, it was observed that the majority of the respondents consist of professional from various fields like engineers, software professionals, working executive etc. who effective form 38% of our database. While 36% were students from various fields. Others constitute designers and athletes etc. the further study is carried on the buying behavior of the above mentioned categories of consumer, which shows that our consumer is well educated and is very well informed about the product. (http://www.scribd.com/doc/34735893/A-Summer-Training-Report-on-Nike)

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Furthermore, in the survey conducted a direct relation between the income level and the spending capacity was observed. Also it was found that students were spending in the range of $1000 -$ 3000 as compared to the working class professionals who were ready to spend between $ 3000 – $ 6000, since they have higher spending power because of higher income levels. (http://www.scribd.com/doc/34735893/A-Summer-Training-Report-on-Nike)
Geodemographic Segmentation
The second segmentation are focuses on geodemographics and proximity. The premise behind geodemographics is that people who are similar in income, culture, and perspectives naturally gravitate toward one another. Once these people move to their neighborhoods, they become even more alike and share similar consumer behaviors. When a store asks for your zip code when you make a purchase, it’s using geodemographics as a segmentation technique.
Furthermore, the characteristic if the consumer is depends on their income. For example, the Nike Shoes has been done an analysis the respondent of buying for the Nike shoes is RMB597 for average of the total.(App.1)
Personality Traits
Personality traits are people often do not identify these traits because they are guarded or not consciously recognize. For example, some of the consumer can accept new thing and some perceive less risk in trying new thing.
Lifestyle
A third base of segmentation is psychographics. Psychographics are lifestyle and personality descriptors. There is a relationship between lifestyle and consumer behavior, so people with similar lifestyles buy similar products. Lifestyle descriptors are often categorized as activities, interests, and opinions.
The brand is fiercely defended by its owners whom truly believe that Nike is not a fashion brand but a shoes for sport lifestyle consumer that mean mostly people who active in sport such as football player or basketball player would purchase it. Meanwhile there was also consumers that wear Nike just want to build confident or make other feel they wearing a branded shoes but not ordinary shoes but not for sport purpose. For youth, they think Nike shoes is a fashion lifestyle and they wear it just to follow fashion trend. For example, since Michael Jordan wear Nike shoes, consumer will follow him step as a fashion trend.(App.3)
Benefits segmentation
Benefits sought represent consumer needs and important for positioning.(App.4)
Critiral for Effective Targeting
Identifiable
Nike have been divide the market into separate segments on the basis of series that relevant to the characteristic such as demographics have age, gender, family life cycle and others.(App.2)
Besides, they target in different identifiable such as men sports running shoes and women sport running shoes. Nike target on different type of segment that to fulfill customers need. (App.6)
Sufficiency
Nike is a worthwhile target, they target on the needs and they undertake probability survey to whose finding project to the total market. They will have clearance stock or promotion through on or sell on shops. (App.7)
Stability
Nike marketers prefer to target consumer segment that are relatively stable in demographic factors are likely growth larger time.(App.2)
Besides, consumer can buy through online or any shopping complex. That was easy for consumer to purchase anywhere. (App.8)
Accessibility
Nike has been accessibility in any market segmentation through advertisement.(App.9)
Profitability segmentation
Overall the past two years (App.5)
Sales
Group sales decreased by 8% and amounted to $572.5 million in 2009, compared to $622.8 million in 2008. The decrease in sales matched the Company’s expectations and was due to the recession of all sales markets as realized as part of the financial and economic crisis which started at the end of 2008. The recession mentioned lead to conservative inventory policy adopted by most Company’s customers which also contributed to the decrease in sales.
 Gross profit
 The gross profit in 2009 amounted to $103.7 million (18.1% from sales), compared to $105.7 million in 2008 (17.0% of sales). The improvement in gross margin in 2009 compared to 2008 was due to efficiency steps taken by the Company and the implementation of the restructuring plan which was declared by the Company at the end of 2008 and was achieved despite the decrease in sales.
A global slowdown in retail sales and consumption, has hit Nike hard. In fiscal 2009 (ending May 31, 2009), Nike’s revenue grew only 3% to $19.2 billion, with net income falling 21% to $1.5 billion, and the company expects lower revenues in the first half of 2010. Despite the overall struggles in 2009, Nike posted two straight quarters from Q3 2010 to Q1 2011. In Q2 2011, the company posted a profit of $457 million, up 22% from the same quarter of the previous year. Revenues hit $4.8 billion, up 10 percent over the same period last year. Analysts point to the trend of four straight strong quarters as a sign that the company – and perhaps the financial world – is finally beginning to rebound from the recession. However, company analysts believe that Nike will struggle against the challenges of a larger economy for the rest of the fiscal year, which it plans to combat through a selective rise of prices.
Consumer Environment
As consumer can see, Nike have been promise to improve their shoes in newspaper in long time. When 2009, Nike haven been improve in their shoes that’s call Newton Running. Its developed a whole range of shoes that encourages running on your midfoot/forefoot, a technique and position that helps keep you running more efficiently, injury-free and faster. According to Nike, cushioning and support are needed in order to avoid injuries but, at the same time, all the cushioning and support that modern running shoes provide are making our foot’s muscles lazy. Therefore the Free is created as a training shoe, with which to run a limited number of miles amid your normal running schedule in order to specially train the muscles that are not activated while running with normal running shoes. Furthermore
 
 

Market Segmentation and Consumer Buying Behaviour

Market segmentation is the division of the market into segments which a specific group of people help to require all that the consumer’s need. The Geographic,Psycho-graphic and life-style,Behavioural and Demographic which is the most important basic of segmentation are the four types and basics characteristics that market segmentation is based on. Also the consumer behaviour is the positive or negative reaction for the products of the marketing.

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Introduction
Market segmentation is the divide of the market into sections, like an orange, in which all segments are linked but every segment has its own shape. The companies can be international by making foreign purchases, like British consumers buy Italian dresses and shoes. Market segments also, are an important part of marketing because a market consists of customers with similar needs and for each market segment there is a different marketing plan.
MARKET SEGMENTATION
A product is targeting a specific group of customers or a marketing mix of market segments. It is the company’s responsibility to ensure that the product satisfy the needs of the customers in that target group. Every market segment can transfer a target market for an obstinate, and could require a special marketing mix if the firm is to use it successfully.
As the companies know, segmentation allows for fast response of changing market requirements, improved analysis of competition and to efficient strategic planning.
The purpose of segmentation is to find the ideal set of needs and behaviour of the targeted customer.
The basis for segmenting markets depends for the five several ways in which a market can be segmented:

This is the segmentation where the market is divided into groups based on where they live or where the customer’s are located. Do they live in the countryside or in a big city?

Demographic segmentation is the most basic and the most popular type of segmentation. The groups of customers are chosen based on the following criteria:
– Age: the broad groups who may because of their age show distinct purchase behaviours. Is she/he a child? A teen? An infant?Is this product appropriate for our costumer’s age?
– Gender: Different sex of human. Is our customer a female or male and the product is made for men or for women or both?
– Life-cycle stage: Young, old, single, married, occupation, number of children.
– Social class: social class is an important one because these groupings seem to give reliable indicators of separate consumer mental state and needs .What is the social status of our consumer? Are they poor or rich? – Life-style: Differences by character of a person, behaviour, habits, opinions and interests.
For example women dresses is a product that is marketed based on demographic segmentation. The cause for this product is that it is made for women and the marketing mix is made up of groups of women of different ages.
Another and particular example is the advertisement for the perfume “The One” by Dolce and Gabana. This perfume is very classy and fantastic and 4 when the women wear this perfume feel like a star and a true diva! You can find it in fashion magazines and this is due to the fact that it has a good price and is not very expensive and hence every woman can buy it.

The way in which the customers react

Economic and social characteristics of the customers. Do they find the product good or bad? How do people behave?
CONSUMER BUYING BEHAVIOUR
Consumer behaviour is the positive or negative response for the products of the marketing when they like or dislike the product and if they pleased or displeased with that product.
Consumer all the time has many motivations and this is the serious reason that is a payer and a buyer . The consumer needs to be completely happy and satisfied with the old and new requirements. At the same time all shopper’s to complete their needs,without to realize they take a risk for dissadisfaction when buying a product,so must be carefully and to be sure that the product is safe.
The consumer’s must to be ‘alive’ because is the most important key for each company to live and success. Without consumer’s the companies can not handle their business and lose their jobs. The suppliers have to find a nice way to keep the consumer’s satisfied and want to buy again and again for the same supplier the products and to say to friends, a related good impressions to buy from the supplier.
Allegiance customer’s are the people that they will help and give suggestions to the suppliers when they will have many problems and not really good and easy times at the company. Also can help the company to be more higher and improved the goodwill for the supplier organisation’s version. Certainly the essential part of the solution between loyalty and current consumer’s is more serious and important from the banks.
Some of the private effects on consumer’s behaviour is the personality.

Personality : each human has her/his own and separate way to think and have her/his personality. Is an inclusive idea which contains characteristics and calculate how the person appreciate to his/her to conditions and would be capable to know to sign in own behaviour.

References

Internet websites: http://www.themarketingprocessco.com/marketing/market%20segmentation/market_segmentation.htm http://www.bizrate.co.uk/perfumeandcologne/oid511115165.html BOOKS: The Chartered Institute of Bankers, (1996) Strategic Marketing Management, London. Wilkison, R. , Curtis, B. , Curtis, S. , Jones, C. , Morgan, B. , Norman, J. and Sykes,G. (1994) Business Studies an introduction to management and business studies , Meinemann Publisher Ltd. , Oxford. 9 Bibliography http://www.learnmarketing.net/consumer.htm http://www.kowthis.com/principles-of-marketing-tutorials/consumer-buying-behavior/

 

Indian Biscuit Market: Segmentation and Customer Analysis

For an effective and efficient segmentation, however, a mix of all of these above mentioned parameters have to be used. Extending the above concept of basis of segmentation, the criteria of segmentation across different conditions is naturally different. For example, for the general understanding of a market, one should keep in mind the benefits sought, product purchase and usage patterns, needs, brand loyalty and switching patterns

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On the other hand, for positioning studies, product usage, product preference have to be taken into account. On one hand, incase of advertising decisions, when media usage and psychographic /lifestyle is considered seriously, on the other hand for distribution decisions, store loyalty and patronage clubbed with benefits sought in store selection is contemplated over. Also, it has been often concluded that the segment profitability is affected by five principal factors :

Industry Competitors and the threat of segment rivalry
Potential entrants to the market and the threat of mobility
The threat of substitute products
Buyers and their relative power
Suppliers and their relative power

Last but not the least, to decide on segmentation, a knowledge of following five patterns of market coverage is important . They are :- Single segment concentration, selective specialisation, product specialisation, market specialisation, full market coverage.
PROMOTION :-
For any promotion strategy to be successful, it is primarily important that the flow of thought process behind it be understood. A Marketing Plan is essentially a mix of Product, Place, Price, Promotion, physical evidence and Process Management . This Marketing Plan is a derivative of Marketing strategies and objectives, which is in turn derived from Corporate Objectives. And on an overall level, all of these are derived from the Final Corporate Strategy . Amongst these, the Promotion mix consists of a wide variety of selling tactics like Product Placement, Advertising and advertorials, Packaging, Personal Selling, P.O.S., Publicity .Sponsorship, Sales Promotion, Exhibitions, E-Mails, Text messaging etc. While developing the communications Plan, the following points have to be kept in mind by a Marketer :-

The nature and detail of the target audience.
The Short-term and Long-term communication objectives
The messages that are to be used
The Communication channels that will carry the message
The Budget
The Mix of communication tools that is to be used and how the elements of the promotion mix are to be integrated and how, in turn, the promotions mix is to be integrated with the marketing mix.
The measure of the ROI of the campaign.

Apart from the above mentioned, approaching the customer in a Integrated Marketing Communication Channel is the most effective. i.e. by achieving a higher level of integration between the individual elements of the communication mix, the planner should achieve a greater degree of clarity and consistency, with the result that there will then be a seamless integration of messages and a broader reach .
Brand Management
A fundamental element of any product strategy is the role played by the brand. Brands are designed to enable customers to identify products or services that promise specific benefits. As such they are a form of shorthand in that they create a set of expectations in the mind of customers about purpose, performance, quality and price. This in turn allows the strategists to build added value into products and to differentiate them from competitors.
To be truly effective, a brand strategy has to develop over time and reflect environmental conditions. There is therefore a need from brand development, the key elements of which involve a detailed understanding of:

Current perceptions of the brand amongst customers and the trade
The expectations of both customers and the trade
The strengths and weakness of each brand within the portfolio
The value of each of the brands
The links that exist between the different brands owned and the nature and significance of any overlaps and gaps
The dangers of brand cannibalization
When and where new brand names need to be developed
The opportunity for brand stretching
Probable competitor moves

The starting point for this involves analysing the brand in order to understand detail what it means to customer and how much it is worth. In doing this, the strategist needs to identify the core values, the scope that exists for extending the brand name into other product or market sectors, and the areas that must be avoided at all costs.
Developing a brand strategy
For many organisations, branding is a fundamental element of the product strategy and provides the basis for a consumer franchise that, if managed effectively, allows for greater marketing flexibility and a higher degree of consumer loyalty. However, it needs to be recognised that branding involves a great deal more than simply putting a name on a package. Instead it is about creating, maintaining and proactively developing perceived customer value, it is only in this way that the organisation is able to promise and continue to deliver to the consumer a superior value than that offered by competitors.
It follows from this that any brand strategy is, of necessity, a long term process that involves an investment in and commitment to the development of the brand over time. This long term perspective involves the dovetailing of a number of issues, but in essence can be seen to be concerned with the two principal issue that emerge from the discussion above
1. Where the brand is currently and how it is perceived
2. How the brand is to be perceived in three, five and ten years’ time, and how this might best be achieved.
With regard to the first of these, the starting point for any brand strategy involves identifying:
The brand’s current market positioning
Competitors’ positioning strategies and resource bases
The way in which the market is likely to develop, and the implications of product, brand and market life cycles
Customers’ perception of the portfolio of brands in the market
Customers’ expectations and the extent to which these are being met both by the brand and its competitors
Levels of customer loyalty across the market
The financial, managerial and operational that can be called in managing a brand
The bases for competition
The relative importance of the brand to the organisation
Managerial expectations of the brand
It is only against this background that the strategist is able to develop a vision for the brand.
Finally in developing the brand strategy, the planner needs to give consideration to a series of financial issues, including the margins and contribution that the brand is required to generate in both the short and the long term, and the levels of investment that the brand needs if it is to achieve the objectives set.
Consumer Behaviour
From the viewpoint of the marketing planner, the mix of cultural, social, personal and psychological factors that influence behaviour is largely non-controllable. Because of the influence they exert upon patterns of buying, it is essential that as much effort as possible is put into understanding how they interact and ultimately, how they influence purchase behaviour. in doing this, it is important not to lose sight of the differences that exist between customers and consumers, and the implications of these differences for strategy.
Against the background of an understanding of the factors influencing motivation, the marketing strategists needs them to consider the influence of perception, since it is the way in which motivated individuals perceive a given situation that determines precisely how they will behave.
Consumer is at the centre of all decision making in an organisation. The linkage of the consumer to other aspects is shown in the following diagram. We can see that on the left, the consumer interacts through his perception, understanding (cognition), beliefs and social influences. These aspects determine the behaviour of the consumer. The search for this behaviour is through market research and insight mining. The market Research gives fodder for the strategy to be formulated.
MARKSTRAT – SUMMARY
Before entering any market, it is important to understand what the market stands for, the kind of products in the market, the competitors that the company will face and various external and internal factors that will play a crucial role in making decisions after every quarter/period. The Industry Cheetah has 6 players in the Market namely A, E, I, O, U, Y.
After the initial feelers of the whole simulation, it was evident that we would have to focus on certain key areas and others would be on low priority. The key-focus areas that were decided were :-
Philosophy, Guiding Principals and Organization
Product Portfolio
Research & Development
Advertising and Sales Force Decisions
Pricing Effects
Competitor Dynamics
New Product Launches
Production Planning and Inventory Management
Financial Focus
After setting the above agenda, the next step was to decide what needs to be done in the first period. The single point agenda in this case was to enter the Sonite market while keeping away from the Vodite market . The logic behind this was that to, make Vheetah Y the Stock price leader clubbed with highest ROI. A snapshot of results varying across different periods are as follows :-
Base (period 0): 1000
Period 11 (End): 1687
Highest: 2485 (Period 6 End)
Lowest: 1000 (base)
Highest Stock Price in Industry: 3244 (Cpny. I)
Some of the pertinent stock prices Index observations over the periods were :- SPI increased by 68.7% after 11 periods compared to base value. A very encouraging positive growth was seen from Period 0 to Period 6 (138.9% growth from Period 0 to Period 6) On the Contrary there was a continuous decrease in SPI from Period 7 to 11 (32.11% decline in Period 7 to period 11). The high-point of the SPI game was that at the end of Period 6, Cheetah Y was the market leader in terms of SPI.
A company vs Company comparison of SPI shows the following results :-
The next focus shifted to pushing the Product through Sales and advertising .The logic behind our heavy Advertising Budget was that there was no point in having a perfect product if the target market does not know about it. A fine balance of quality and quantity does the trick.Down the line, Cheetah Y also realised that it is wisest to allocate the money to the products with the highest Return on Investment. Also, from a strategic point of view, it makes a lot of sense to be opportunistic and increase the advertising money when the competitors are squeezed for money . In this regard, the most important function is “Competitive Advertising” which defines a product (in this case SYGU and SYCA) against what its communication dimensions and message quality are. Initially, the dimensions “Economy and Performance” and “Performance and Convenience” fared pretty badly . But towards Period 7 (from Period 3 to Period 7), it reached the message Quality “Excellent”. Parallely, in the Vodite Market, the product VYLE on the communication dimension “Economy & Felxibility” it scored a message quality of Excellent.
A combined overview of how the sales department fared for Cheetah Y is given below. Also, it gives the insight into what cheetah Y fared vis-a-vis competitors and current market scenario.
Base (Period 0):
(a) Sales Volume: 167.53 Kilo Units
(b) Revenue: K$ 48659.3 Million
Period 11 (End):
(a) Cumulative Sales Volume: 539.60 Kilo Units
(b) Cumulative Revenues: K$ 1463564.9 Million
Highest Sales in any Period (Units): 788.4 (Period 7 End)
Highest Sales in any Period (Revenue): K$ 193776 (Period 7 End)
Lowest Sales in any period (Units): Base
Lowest Sales in any Period (Value): Base
Highest Cumulative Sales (revenue) in industry after 11 periods: K$ 1949822 (Company I)
(A snapshot of Sales Volume across all the competitors)
After investing in adequate sales force across Speciality Stores, Department stores and Mass Merchandise, the next logical step was to analyse the Market Share after each period. Some of the key highlights in case of market share were :-
Market Share at Period 11 (End): 7.03%
Highest: 28.35% (Period 5 End)
Lowest: 7.03% (Period 11 End)
Highest Market Share in Industry (Period 11 end): 38.88% (Company U)
The broad strategy to achieve the initially set agenda is that first we enter the Cheetah market with minimum number of products, and with zero product in the Vodite Market. Also, offering the same product across multiple segments enhanced the revenue base. There was an overall increased emphasis on targeted advertising to increase brand awareness. The Pricing strategy also worked in this direction, i.e – offer the product at a cheaper price than the competitors (even when the product is superior) . But as dynamic as our market strategies, even the Market threw up a lot of surprises. There were the constantly changing consumer needs, aggressive product development of competition, large disparity in growth rates in different segments of the two markets. Thus a snapshot of the strategies pursued are given below, vis-a-vis what actions were taken .
Thus, from the above describes strategies pursued and an analysis of their results, the following lessons were learnt :
Offer customized products to each segment in the market
Keep track of changing consumer needs; modify products accordingly
If the product is not performing well, remove from market
Pay emphasis to R&D
Observe competition and their strategy; tweak strategy suitably
Advertising spend does not necessarily lead to greater sales
Lowering price will not improve sales even in a price sensitive segment
Possible Applications of the learnings :-
There is space for growth for additional brands in the customer segments of Buffs and Singles as the entire market is concentrated in just a couple of players. A well positioned and well priced brand definitely has a lot of promise in these segments.
We need keep a tap on ideal value evolution of the physical characteristics or dimensions. Continuous re-evaluation and modification of existing brands like SYGU and SYCA should be done and marketing and advertising efforts should be employed keeping the changes in mind.
The position of SYGU brand needs to be questioned and, if need be, repositioned with a modified R&D project.
A product/brand catering exclusively to the Followers segment in the Vodite should be launched with the desired physical characteristics.
Need to define the space for competition so that maximum efforts can be employed there with minimal overlap and wastage with any concurrent efforts for any other brand of the company – a case in point is Company I which has excellently defined brands in each of the customer segments of Singles, others and followers.
Need to use the MDS and SEMANTIC scales more precisely for setting advertising objectives for SYGU and SYCA.
COMPANY STRATEGY :-
Biscuit industry is the third largest producer and fastest growing industry in FMCG sector.Its Estimated Value is approximately Rs 5000 Crore. It forms a part of the Organized sector: 60% (approximately). Major Segments in which it operates are Glucose, Marie, Cream, Crackers, Milk. Major Brands in the industry right now are : Britannia, ITC, Parle, Priyagold, Dukes etc
COMPANY OVERVIEW :- Britannia is India’s second largest food company with Sales close to Rs. 20 billion. Over the years it has shown a Consistent annual growth rate of 15-20% . It Sources products from more than 50 factories spread across the country. Key product lines include Biscuits, Bread, Cakes and Rusk .Product range serves to the whole spectrum from “mass market to the premium segment” .
FINANCIAL ANALYSIS :-
An indepth analysis of past few years shows that the Gross sales increased to Rs 2317.11 Cr in 2006-07 indicating a growth of 28% . Britannia’s Profits declined by 33% due to increase in input prices and stiff competition (like Parle, itc, Priya ). An interesting trend showed that Dividends of the order 100-150% were provided for the past 5 years. Although Britannia followed the industry growth rate for the past 3-4 years, the profit margin followed a zigzag pattern. But owing to Inflation, Costs have increased significantly on the production as well as on selling front. Company has very small debt and its Debt-Equity ratio is 0.01. Company is maintaining good debt rating for future requirements.PBITDM (Profit Before Interest Tax Depreciation Margin) expressed as a percentage of Sales is 6.58.ROE is at a healthy Rate of 21.14% .Current ratio has been improving over the years and hence the solvency position of the company.
COMPETITIVE ANLAYSIS :-
(Marketing Mix of Britannia )
PRICING :-
On the basis of price, the biscuit market can be segmented into the following:
Low Range Biscuits (less than Rs 40 per kg.)
Medium Range Biscuits (Rs. 40-70 per kg.)
High Range Biscuits (over Rs.70 per kg.)
Britannia caters to the upper middle and high end of the market – with a touch of premium to it. On the price quality matrix, Good Day biscuits can be classified as following a High-Value strategy.
PROMOTION :-
Britannia has engaged into various Integrated Marketing Communciation activities some of the more prominent ones are mentioned as follows. Since Consumers are becoming more health conscious – “Swasth Khao Tan Man Jagao” (Eat Healthy, Think Better) campaign directly addressed this new trend (Tiger Biscuits). A new logo was created encapsulating the core essence of Britannia – healthy, nutritious and optimistic. Good Day is positioned as a healthy and nutritious product and it advocates values that stand for health, hygiene, family, trust and taste. Since events form a major chunk of the Brand visibility agenda, Britannia sponsors a lot of Sports and sporting events as key channel for promotions. One of the majorly acclaimed campaigns of Britannia is “Britannia khao, World Cup jao” campaign in 1999 and 2003 and was awarded the most recognized sales promotion among all Cricket World Cup-related sales activity
SEGMENTATION AND CUSTOMER ANALYSIS :-
“Before delving deep into Segmentation Targeting and Positioning, it is important to identify what the Key information areas are, specially the Demographic profile of the consumer on the parameters age, sex, income level and occupation. Some of the personal characteristics of consumers include the identification of “When do customer consume biscuits”, “Type of biscuits consumed”, “Where do the customer purchase”, “Purpose of buying (personal consumption, gifting, serving guests)”, “How much do consumers spend on biscuits”, “Factors Affecting the buying decision”, order of preference etc. Different products will have different target group depending on the above mentioned factor. Though a Good-day would appeal to the consumers as a mid-range biscuit, a further extension of that product called “Good-day Choco-nut” falls in the category of High-end biscuits. R&D :- Qualitative Research includes an in-depth analysis of the consumer needs and wants and for this, a wide variety of tool may be used. For example, FGDS with a set of consumers to identify major factors influencing the purchase decision of biscuits (and Interacting with friends and family Quantitative Research Customer survey using questionnaire.Survey done through both face to face interviews as well as online. Tools Used are Factor Analysis, Cluster Analysis and Fishbein analysis .”
Consumer Behavior and MARKET RESEARCH IN CHEETAH Y
Market Research forms the basis of almost all of the strategically important decisions that a Company makes over a period of time. Consumer psyche, Brand perceptions, Buying behaviours, Priority or preferences, all of these form the building blocks of information, on the basis of which a decision maker even goes to the extent of changing the very core proposition of a Brand !
BRAND AWARENESS :- To understand the awareness level of brands across our own company Cheetah Y and across competitors, it is important to have a comparative analysis. This has been made possible by “Consumer Survey on brand Awareness Segment by Segment” . The report delves deep into what exactly is the level of brand knowledge amongst the following segments :- Buffs, Singles, Pros, HiEarners and Others. Initially when the game began, the product SYGU occupied highest mindspace share amongst Singles while the product SYCA occupied highest mindspace amongst Pros. At the end of all 12 periods, SYGU continued to occupy the highest share amongst Singles while also capturing a significantly high percentage amongst Buffs. On the Contrary, the mindspace percentage of SYCA increased excessively for Buffs and Hiearners.Also one more product SYCO was introduced which managed to gain the highest mindspace . This helped in taking proper measures to increase brand awareness amongst the desired segment and helped in understanding the impact of increasing advertising expenditure .
The next logical step after studying the Brand awareness is to find out that how much of it is actually getting converted into Purchase. To study the Purchase intentions, the report Consumer Survey-purchase Intentions is the apt report. Here we inferred that purchase intention for SYGU was the highest amongst the Singles, which is in sync with the level of Brand awareness amongst them. Also the purchase intention for SYCA was highest amongst the Hiearners which is again in sync with the Brand awareness.IF we analyse the trend across 12 periods, we notice that there is a visible trend reversal i.e. SYGU purchase intention was highest amongst the segment “Others” while incase of SYCA, the PROS showed the highest purchase intentions . This can be attributed to the fact that a lot of investment was made in the Advertising research and hence overall advertising budget which increased the brand awareness and purchase intention considerably.
BUYING BEHAVIOR of consumers :- So where exactly are Cheetah Y’s target audience buying from ! This is important to understand because it helped us plan the “salesforce ” and distribute the salesforce accordingly amongst the Speciality stores, Departmental stores and Mass merchandise stores. At the start of period 1, Buffs were mostly buying from Speciality stores, Singles were mostly buying from speciality and Departmental stores while 50% professionals were buying from Speciality stores.High earners preferred to buy through Departmental stores. However, after understanding the buying behaviour, appropriate salesforce was installed in each of these store types. Hence after period 12, singles ended up buying equally from Speciality, Departmental stores and mass Merchandise stores.
The result of all the efforts and budget put into Marketing has a direct impact on the market share and stock prices. In this regard, the Report “Consumer Panel- Market Shares based on Unit Sales” provide the perfect insight into the market share distribution of the two products amongst Buffs, Singles, pros, Hiearners and others. In the Period 1, the highest share of revenue for SYGU was coming from Singles, while highest share of revenue for SYCA was coming from Hiearners (this is in sync with the BRAND AWARENESS report). However, down the line after 11 periods, the highest share of revenue for SYGU was coming from Others while major revenue contributors for SYCA was the segment pros. Since the brand awareness for the product SYCO was low, this duely reflected in in share of revenue being almost nil from each of the segments.
After understanding the current scenario and facts and figures related to Brand awareness and Brand purchase intentions, it becomes imperative to do an apt amount of Advertising Research and an estimate of Competitive advertising. The Market research report tells us that initially all the products in the Sonite Market had a rating of “poor” against the various communication dimensions, except SULI . But over a period of 12 periods, while the communication dimensions and ratings and its corresponding ratings for all the products (and companies) changed, the ratings for SYGU AND SYCA remained poor and only SYCO got a message quality of Good. This can be analysed through the fact that though investment in advertising was being made, simultaneously the changes in the parameters Design, Power, Weight etc through R&D was not made. This resulted in a mismatch between the product quality and what is being advertised, hence resulting in poor “message quality”.
 

Segmentation Targeting and Positioning of Vodafone

Vodafone is one of the biggest names in wireless technology, and is continuing to grow a solid, loyal customer base because the company offers excellent product along with excellent customer service.
Vodafone has a an interesting history, back to 1984, when it was still a subsidiary of the well-known Racal Electronics Plc. In September 1991, the Vodafone Group Plc decided to separate itself from Racal Electronics Plc, they later merged with another company, the Air Touch Communications Inc, in July 2000.
In 2001, this wireless company first introduced instant messaging on their networks, to provide for a faster way to communicate among their users. The company also launched the first ever 3G service in Europe with their innovative mobile connect GPRS/3G data card in 2004. In February 2007, the company had another major milestone when it partnered with Yahoo and Microsoft in order to launch instant messaging services that can easily be accessed using either a personal computer or a mobile phone. This is one of the milestones that made it into the wireless giant it is today.

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The company continues to offer a variety of services, including data, messaging, voice and broadband. It’s continuous advancement in the data services, they offer by developing its 3G networks and the capabilities of various handsets. It’s a mobile service that’s easy to use, with low-cost telephone line and even DSL broadband connection.It also provides you monthly billing cycle,pre-paid agreement or even a contract.And is known for it’s best customer services.
BACKGROUND:-(INTERNATIONAL EXPANSION STRATEGIES).
Vodafone Group Plc is the world’s leading International mobile telecommunications Group, with a major presence in Europe, the Middle East, Africa, Asia Pacific and the United States through the Company’s subsidiary undertakings, joint ventures, associated undertakings and investments.
The basic concept of this case is to look at Vodafone’s future expansion, growth and global strategies within the concept of internationalization and competitive advantage issues.The reason to launch Vodafone in Mexican market is to gain profitibility,gaining high revenues by doing better business in more areas or internationally.Because if Vodafone will not be launched in Mexico some other mobile company will do the same.Being one of the world’s largest company it’s easy for Vodafone to enter the Mexican market and capture it.
PESTEL ANALYSIS:-
It is the technique of environmental scanning of any industry on the basis of factors like political, economic, social, technological, legal and environmental.
PESTLE analysis uses a framework of external factors for macro-environmental scanning of the industry to help in taking advantage of opportunities and making contingency plans for threats.
SEGMENTATION, TARGETING AND POSITIONING:-
It together comprise a three stage process;
Segmentstion (identifying meaningfully different groups of customers)
Targating (selecting which segment to serve)
Positioning (implementing chosen image and appeal to chosen segment) it furthur includes product,price,distribution and promotion.
SEGMENTATION:-
Segmentation is the process of splitting (segmenting) the entire market into smaller groups. Demographics is the most common variable of market segmentation that includes age, gender, income, geographic, psychograhpic and behavioural.For launching a Vodafone in Mexican market, the product is for both the genders ,of evry area with variaing ages and incomes.
Markets are made up of many distinct groups of people who have common characteristics as consumers. Some of those groups may not be immediately obvious. All of them command tremendous buying power. But they direct it to products and services that address them as a highly individual subdivision or segment of the market.
Define those market segments right and you may even end up dominating the market. Because the more you know about a market segment:

The better you can provide a product or service that attracts it.
The better you can create marketing materials that appeal to it.
The more cost-effectively you can direct them at the markets that respond the best.

The easier it is to position your company and product and build brand loyalty. It’s hard to successfully address a large, vague, undifferentiated market. It’s easy to address a tightly focused, highly individualized group of people with clearly defined preferences and needs. Market segmentation isolates those groups, and makes them accessible. It helps your organization understand them and reach them and profit too.
TARGETING:-
In this step one or more segment is targeted.Generally depend on several factors.

How well are existing segments served by other manufacturers?
How large is the segment, and how can we expect it to grow?
Do we have strengths as a company that will help us appeal particularly to one group of consumers?

It will be more difficult to appeal to a segment that is already well served than to one whose needs are not currently being served well.Mexican market is already being served well but Vodafone being a giant can capture the market by providing equally better or more advanced services.
POSITIONING:-
Positioning basically involves implementing the targeting.
Product (premium,basic)
Price (premium,low price,value)
Distribution (intensive,selective,exclusive)
Promotion (prestige,fun,powerful)
Being operationally excellent firm,by maintaing exceptional efficiency,the firm providing reliable service to the customer at a significantly lower cost. Vodafone can capture the market.It’s customer intimate firm which excel in serving the specific needs of the individual customer quiet well. Technologically it is prodviding the most advanced products currently available.
COMPETATOR ANALYSIS AND MARKET ENTRY STRATEGY:-
It’s a critical part of firm’s activities.Competitor analysis has several important roles in strategic planning;

It helps management to understand their competitive advantages/disadvantages relative to competitors.
It generate understanding of competitors past, present andfuture strategies.
It gives an informed basis to develop strategies to achieve competitive advantage in the future.
Also help forecast the returns that are made from future investments i.e how will competitors respond to a new product or pricing strategy?

Entering a new market is always a challange.The size of the country, number of opportunities and geographical size matters precisely.Solid market entry strategy needs proper market research to know existing opportunities, understand the competitive landscape and to know about potential clients.A market entry strategy has to be developed that fits companies objectives, timelines and budget. A successful Market Entry Strategy includes, assessing the feasibility of the product in market, what are the industry trends, what potential competitors are doing and what pains clients are facing that can address. If the market research reveals a robust opportunity, then it is time to develop your market entry strategy with a trusted partner that can not only write the strategy, but also help you implement it, in market.
 

Brain Tumor Segmentation Using Convolution Neural Networks

Abstract/Project Description

Brain tumors treatment requires to know how extent the tumor was expanded. Without ionizing radiation magnetic resonance imaging(MRI) technique is one of the primary diagnostic tools for the brain tumor. Segmenting brain tumor extent from MRI consumes a huge amount of time if it is done manually. Using neural networks to segment the tumor extent will be an efficient way to examine brain tumor. But in traditional neural networks models for segmentation problem, Cross Entropy and Dice coefficient were commonly used as loss functions. Some type of brain tumors(like glioblastomas) are infiltrated and their borders are fuzzy and loss functions like cross entropy and Dice coefficient will not help in this situation. In this project, we propose a neural network model based on Active Contour models(ACM) and these ACMs will consider the geometrical information of the contours and takes them into consideration to avoid fuzziness during segmentation.

Introduction

One of the most dangerous types of cancers is brain tumor, because a person who is suffering with brain tumor will lose their cognitive functions and their quality of life will be poor. Most common brain tumor is gliomas, and there are two type of gliomas, one is low grade gliomas( a person diagnosed with this will have several years life expectancy) and another one is high grade gliomas( a person diagnosed with this will have 2 years life expectancy). A surgery is required for treating the brain tumor even though radiation and chemotherapy were used to slow down the growth of the tumor. Magnetic resonance imaging(MRI) helps by providing detailed pictures of brain, and most widely used method for diagnosing brain tumors. It will be hard to detect the tumors because they were poorly contrasted, tentacle like structures, and often diffused. One more issue with segmenting brain tumors is they can be formed anywhere in the brain in different size and shape. Brain typically consists of three tissues: the grey matter, white matter and cerebrospinal fluid. To segment a brain tumor, we need to identify abnormal areas rather than normal tissues. Glioblastomas which is one of the most difficult brain tumors to segment because their border are fuzzy, and it will be difficult to distinguish them with normal tissue. To overcome this issue, we propose a neural network model with active contour model, and that contour model will take geometric information of the contour into consideration while performing loss function. In that way the edges were also taken as loss during gradient descent.

 

Background/Related Work

In this section, we will discuss about different related works, CNN based segmentation methods and use of different loss functions which are related to this work.

CNN- based Segmentation Methods

In many of the computer vision tasks, CNNs showed a remarkable performance. The end to end working nature of CNN is one of its strength because this approach can extract hierarchical and multi-resolution features during learning process. In one of the previous works[4], authors used small 3×3 kernels so that it will help to design a deep neural architecture and intensity normalization in pre processing step, which together proved to be very effective in brain tumor segmentation. Also, authors used high level extracted features from CNN using hough transform technique and the tumors which were detected were segmented with a set of fully connected layers and the segmented mask is classified through FCs[5].In another works related to this topic[6], authors used a different implantation of CNN by making it exploit both local and global features simultaneously, their network use a final layer which is actually convolution implementation of fully connected layer which will allow 40 fold speed up and they used two phased training to tackle imbalances in labels of brain tumors. To avoid computational costs of CNN, authors[7] implemented a CNN based model which will efficiently combines advantages long range 2D context and short-range 3D context, by using voxelwise voting strategy, they merged the outputs of several cascaded 2D-3D models so that this will overcome the limitations of specific choices of neural networks and they implemented a network architecture in which separate subnetworks are used to process the different MR sequences so that model is more robust to the problem of missing MR squences. CNN can be categorized into pixel based and imaged based approaches when it comes into segmentation tasks. Each pixel in the image will be classified into different objects in pixel-based approach. The image-based approaches like U-net is simple and have good performance when compared to pixel-based approaches. But, lack of consideration on outside the target so that small segmented object occurs around the boundaries. To Overcome this issue, researchers prove that developing different loss function will improve the performance of the U-net. This will be done by introducing shape-aware term in the segmentation loss function. The performance results of cervical X-ray images were increased by 12% by using this approach. Inspired from this progress, we borrowed a novel loss function to improve the segmentation performance.

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LOSS Functions

Loss functions play a key role while training a CNN model. Cross-Entropy and Dice co-efficient are commonly use loss functions. But they have limitations: one is they are pixel-based loss functions and they measure the similarity between ground truth and prediction result on pixel based, but the geometric information will not be utilized. The proposed loss function will consider the region and length of the boundary so that it will help in preserving the shape of the contour.

Goal/Purpose of the Project

 

The goal of the project is to build Neural network based on active contour models to segment brain tumor, this method will consider geometrical information(length and area of the region) while calculating the loss function. This approach will help preserving shape of the contour which plays an important role while examining the tumor.

 

Features and Methodology

In this project, we use U-net architecture to segment the brain tumor and we will use Cross Entropy loss, Dice Co-efficient loss and Active contour loss while training models and compare the results.

Method 1: U-net architecture

•         For biological microscopy images O. Ronneberger et al. (2015) the FCN of J. Long et al(2015).

•         This Networks is composed of two parts

The contracting part which will compute features

The expanding part to spatially localize patterns.

•         The contracting part will extract features with 3×3 convolutions just like FCN.

•         The expanding part will reduce feature maps while increasing their width and height.

•         To avoid losing pattern information cropped features from contracting part were copied.

•         In the end, to generate a segmentation map a 1×1 convolution will process all the feature maps.

 

 

 

Image Source: O. Ronneberger et al. (2015)

 

 

Unique Contributions:

 

We will build a U-net CNN with active contour loss(which considers geometric information) for segmenting brain tumor. Up to my knowledge this approach is never used for this problem and this will help in segmenting the tumor without loss edges.

 

Technology Stack:

•         U-Net Convolution Network

•         Active Contour models

•         Python

•         Jupyter Notebook

Data Set:

 

The data which we will be using is provided by 2019 MICCAI BraTs Challenge [3]. Each data set consists of four different MRI pulse sequences, each of which consists of 155 brain slices. Professional clinicians participated in providing ground truth labels for each case

Timelines:

Time Line (2019)

No of Weeks

Task

Sep 23rd to Oct 4th , 2019

2 weeks

BraTs data set analysis

Oct 5th to November 2nd ,2019

5weeks

Image pre processing and making data ready for the model

November 4th,2019 to January 6th ,2020

10 weeks

Building model and using different loss fucntions to compare results

January 7th to February 7th,2020

4 weeks

Report Writing

February 10th to March 10th ,2020

3 weeks

Submit Report And approvals

References:

[1] Olaf Ronneberger, Philipp Fischer, and Thomas Brox. Unet: Convolutional networks for biomedical image segmentation.

[2] Michael Kass, Andrew Witkin, and Demetri Terzopoulos. Snakes: Active contour models. International Journal of Computer Vision.

[3] SM Masudur Rahman Al Arif, Karen Knapp, and Greg Slabaugh. Shape-aware deep convolutional neural network for vertebrae segmentation.

[4] Sérgio Pereira, Adriano Pinto, Victor Alves and Carlos A. Silva. Brain Tumor Segmentation Using Convolutional Neural Networks in MRI Images.

[5] Mina Rezaei, Haojin Yang, and Christoph Meinel. Instance Tumor Segmentation using Multitask Convolutional Neural Network.

[6] Mohammad Havaei, David Warde-Farley, Aaron Courville, Chris Pal, Hugo Larochelle, Axel Davy, Antoine Biard, Y. Bengio, Pierre-Marc Jodoin. Brain Tumor Segmentation with Deep Neural Networks.

[7] Pawel Mlynarski, Hervé Delingette, Antonio Criminisi, Nicholas Ayache. 3D Convolutional Neural Networks for Tumor Segmentation using Long-range 2D Context.
 

Nestle Segmentation, Targeting & Positioning

Segmentation

The procedure that is practiced by marketers to get the control of the varied nature of marketplaces is named market segmentation. Market segmentation is done in order to make easy for conducting marketing activities in effective ways. Dividing market into different segments is market segmentation. Market segmentation can be described as the identification of persons or institutes with similar features that have important effects for the determination of market strategy (Wedel and Kamakura, 2000). There are four bases for segmenting the market which are demographic, geographic, psychographic and behavioral.  These four segmentation are explained as below:

Market Segmentation

Segmentation Variable

Kids

Youth

Mature

Demographic

Age

8-14

15-30

30+

 

Gender

Male/Female

Male/Female

Male/Female

 

Income

No income

5000-10000

10000-25000

Geographic

Density

Urban/rural

Urban/rural

Urban/rural

 

Region

Psychographic

Social Class

Middle  Class/

Lower Clas

Middle  Class/

Lower Clas

Middle  Class/

Lower Clas

Middle Class/Lower Class

Middle Class/Lower Class

Middle Class/Lower Class

 

Attitudes

Positive

Positive

Positive

 

Interests

Attract to innovation / trends

Attract to innovation / trends

Health conscious

Behavioral

User Status

Regular user

Potential user

Potential user

 

User Rate

Heavy user

Medium user

Light user

 

Occasion of Purchase

Regular occasion

Regular occasion

Special occasion

Price Sensitivity

Moderate

moderate

High

Targeting

Target market is the process of formulating market coverage policies; showing which segments

of the market provide best opportunities for Clogard basically it can be the set of customers who

has the basic need to purchase the item from the organization (Armstrong, 2006).

Target market is the process of formulating market coverage policies; showing which segments

of the market provide best opportunities for Clogard basically it can be the set of customers who

has the basic need to purchase the item from the organization (Armstrong, 2006).

Target market is the process of formulating market coverage policies; showing which segments

of the market provide best opportunities for Clogard basically it can be the set of customers who

has the basic need to purchase the item from the organization (Armstrong, 2006).

Target market is the process of formulating market coverage policies; showing which segments

of the market provide best opportunities for Clogard basically it can be the set of customers who

has the basic need to purchase the item from the organization (Armstrong, 2006).

Target market is the process of formulating market coverage policies; showing which segments of the market that provides best opportunities.  Basically it can be a set of customers who has the basic need to purchase the item from the organization (Armstrong, 2006).

The most appropriate marketing strategy would be Differentiated segmented marketing. While targeting the market, various things should be kept in mind as selection of target market can lead the product to success or die. Detailed study and research about the market is necessary in order to segment the market. Nestle KitKat is a product that can be loved by everyone but also  target market should be chosen when we launch our product. The main target market of KitKat will be the children of age group 8-14 years as the children are very fond of chocolates. The secondary target will be youths of 15-30yrs. Both male and female having higher income can also be targeted. The KitKat can be easily available in urban areas rather than rural areas. Middle class and lower class people having positive attitude towards chocolates are the targeted customers.  Middle class people having good income especially of urban areas should be targeted when marketing strategies are planned.

Positioning

Positioning is process of creating desired image for a company and its products in the mind of customer. There are some competitive advantage of Nestle KitKat with raspberry flavor in customers mind relative to competitive chocolates.

      Nestle Logo & Family Brand

The name and logo of Nestle is itself a brand so its shows care to customers because of which customer are attracted towards its products.

      Communicable

Due to the brand name everyone has idea in mind that Nestle has a big sign of quality to customer so it’s easy to communicate.

mstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

  Kit Kat-s unique selling points are carried out via the following global brand strategies:

Different Varieties & Limited Editions- Flavour, forms, and shapes

Making it extensively available

Well recognized tagline: Have a Break, Have a Kit Kat-

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass.

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Flamholtz, E. & Randle, Y. (2007). Growing pains. San Francisco: Jossey-Bass

References

Armstrong, M. (2006). A handbook of management techniques. London: Kogan Page

Kotler, P. and Armstrong, G. (2012). Principles of marketing. 14th ed. Boston: Pearson

 

Segmentation, Targeting and Positioning Strategy of Bose Headphones

Introduction

The STP model which are segmentation, targeting and positioning is a useful strategic approach in our marketing and it helps marketers to priorities unique selling proposition and then present characteristic messages to commercially appealing more customers (Annmarie, 2018). Therefore, the STP model can be easily applied into the company, Bose, founded in 1964, famous of its home audio system, speakers and noise cancelling headphones etc. Bose noise cancelling headphones generally is used by consumer, aviation and military. According to Bose, the company applied their noise cancellation technology is to protect the hearing of pilots and eliminate the engine noise effectively. The essay will focus on the understanding of the targeting strategy used by Bose in the noise cancelling headphones’ market of the range of product offerings and then identify the segmentation variables and product positioning strategy. Finally, the perceptual map will be covered which helps marketing analyst understand where consumers rank their product with relation to product characteristics in comparison to other competing products.

Targeting strategy

Targeting strategy is a strategy which aim to target audience the company can sell the product to. A good targeting strategy helps the organisation to be focused on the product selling, pricing strategy, brand loyalty and customer loyalty. Basically, targeting strategy can be divided into three main types of strategies which are undifferentiated, differentiated and concentrated strategy. In this case, Bose QC noise cancelling headphones are designed to attract different age, gender, race income and also education level. Thus, Bose can occupy a market which is “less congested” with undifferentiated strategy. The business targets of mass marketing are the whole market which is more focus on what buyers wants, needs and demands. By indicating the direction in the preference space that is best-liked overall. Morris B and Douglas V (1984) suggested that possible strategies for programming one offering is aimed at the mass market. Hitesh (2019) examined that Bose company has a low-profile adverting policy in comparison with the other competitors such as Beats. The main marketing strategy of Bose company is to sell the product directly to consumers other than to middleman or reseller (Hitesh, 2019). However, as a marketing analyst, advertising is one of the important techniques in modern marketing and it acquired a “great significant” in economy (Chandra, 2010). According to Elliot (2014), the selection of marketing strategy “compromise between the necessity to respond to the particular desires of potential customers”, and the goal is to achieve a lowest of marketing and production. Therefore, the objective of Bose is to focus on advertising and create products that can combine high technology with a small size, and a better sound system. Trying to make the product more simplicity and accessible to all consumers. Bose, in-ear quiet comfort 20 Acoustic Noise cancelling headphones of Android devices has 3 pairs of Stay Hear +tips, clothing clip, rechargeable lithium-ion battery, USB charging cable and a carrying case in box (Bose, 2019). For the additional details of the rechargeable lithium-ion battery, there is only 2 hours charging time and can use for 16 hours per full charge (Bose, 2019).

Targeting market and segmentation variables

A target market is to determine a specific group of people and narrowing the customers thinking, needs and wants to a target group (Elliot, 2014). The target market of Bose QC noise cancelling headphones can be segmented based on demographic variable such as age, gender and income. Pride & Ferrell (2011) indicates that a market segment profile explains the difference between individuals and organisations and represents the similarities among potential customers. The profile for Bose target market is for young adult to middle-aged business Australian and on the middle or upper class that have reasonable disposable earns and willing to buy a noise cancelling headphone in order to have a quiet space and away from the noise environment. Elliott (2018) state that market segmentation involves examining the variables in meaningful market segments and creating profiles of the market segments Moreover, Market segmentation divided the market of potential customers into different set of groups and each segment has certain characteristics (Arieez, 2018). In some other ways, market segmentation is essentially a “merchandising strategy” and it is used to adjust the market offerings of consumers and user requirements (Smith, 1956). In Bose, the behaviouristic segmentation applies to those people who are labelled as a good brand loyalty and benefit expectations (Arieez, 2018). For instance, for the current users who already know well about the product, they can also be labelled according to their usage. So, some users may use the product everyday and others will be weekly or monthly. Bose also focus on psychographic variables such as personality, lifestyle, especially for officer worker, business man and college students who want to enjoy a quiet and personal space in the airplane, subway, train, bus and other environment (Hitesh, 2019). The geographic are segmentation of Bose are targeting all of Australian and not any specific region or location.

Product positioning

Wang (2015) claimed that product positioning become one of the important business strategies to “enhance customer retention, customer acquisition and customer satisfaction” in a competitive environment. Palmatier and Sridhar (2017) claim that product positioning “entails changing both the actual offering and the perceived offering” that determine product features, benefits, price, quality, brand reputation and competitors. In 1978, Bose used a headphone in the plane, and he realized that he could not enjoy the music because of the high-volume noise of plane. After that, Bose starts the famous project “noise cancelling headphones”. Then, Bose headphones becomes more and more popular because of the “noise cancelling” and also a start of Bose technology the noise cancelling product. Cansu (2014) indicates that Bose compromise with three main elements which are “consistency, style and branding”. Bose believed their high quality and define their brands with “a brand one can trust” (Cansu, 2014). Bose provide a noise cancelling feature, the QueitComfort 20 lets the customer focus more on their music by reducing ambient sound distraction. Also, the Bose noise cancelling earphones feature an “Aware” mode, so that you can know what is happening around you. Moreover, the logo of Bose has its own type face and makes customer to have a quicker brand recognition (Cansu, 2014). The well-known manufactures of Noise-Cancelling headphone competitors are Audio-Technica, Beats, Sony, Sennheiser, Harman Kardon, Philips and Monster. Even Bose has high brand reputation of their headphone quality but the price of noise cancelling headphone is $369 which is pretty high for middle level class. In conclusion, Bose headphones have one of the best noise cancelling feature to compare with the other headphone company like Beats and Sony, but the price is also more expensive than the other companies.

Perceptual mapping

Modern marketing realized that customer loyalty has a powerful influence on organisation’s performance (Vlachos, Krepapa, et al., 2013 as cited in Agustin and Singh, 2005). Another criterion is responsibility, for instance, acting a good social responsible manner shows the company is being “profitable, obeying law, being ethical and pursuing philanthropic responsibilities” which effects in the respect of human, community and environment (Bose research, 2010). Nowadays, more and more companies have incorporating their social responsibility into their marketing strategy (Chris, 2018). Having a social responsibility policy may impact the buying decisions of customers and some customers may willing to pay more as they know a portion of profit will be worthy cause (Chris, 2018). Bose has a sustainability program which manages the social, environmental and economic responsibilities and trying to accomplish the environmental goal that create value for the consumers (Bose corporation, 2019). To consumer, the product of Bose has been highly valued in the market place as their high performances and good brand equity and brand loyalty. And Bose will be continuing to provide high-quality products. Bose is one of the in-demand audio equipment and is best known for its noise cancelling headphones, so the brand loyalty should be high. Amin (2019) claimed that Sennheiser is being labelled as overrater because of the celebrity’s endorsement and they are spotted using it. Then, the brand loyalty should be lower than Bose. The company of Sony is probably one of the popular brands and the product portfolio raging from as lows as $10 to as high as $1,000 in global earphones market which means Sony are targeting to everyone because of the cheap price and fair sound quality (Steph, 2018). Philips is also a well-known brand and it is specializing in producing high quality product with inexpensive price.

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In conclusion, Bose, as one of the most prominent sound system brands in global by taking unique strategies to reach the demand of the consumer. Bose is focusing on premium brand reputation and gather the customer loyalty to let people known other than Beats by using high-profile endorsements. By using undifferentiated strategy, it is easier for Bose to know what the consumer needs and wants. For segmentation, Bose applied into three variables which are geographic, demographic and behaviouristic which is easier for the organization to determine the characteristics of individual and groups. Bose targeting to young adult to middle-aged business Australian who is on the middle or upper class. And have reasonable disposable incomes to buy a noise cancelling headphones to let them keep away from noise environment and enjoy their quiet personal space. Product positioning is the changing in actual offering in product features, price and quality. At the end, perceptual mapping provides 3 top well-known competitors of Bose which are Sennheiser, Sony and Philips.

Elliott, G., Rundle-Thiele, S., Waller, D., Smith, S., Eades, L., & Bentrott, I.(2018). Marketing (4th ed.). Milton, Qld.: John Wiley & Sons.

Chandra, B. (2010). Modern Marketing: Principles and Practice (1st ed). Prentice Hall of India Private Ltd.: Asoke K & Ghosh.

Pride, W. M., Ferrell, O.C (2010). Foundations of Marketing (4th ed). South-Western Cengage Leaning.: Mason & Ohio.

Palmatier, R. W., & Sridhar, S. (2017). Marketing strategy. London, England.: Robert W. Palmatier & Shrihari Sridhar

Vlachos, P. A., Krepapa, A., Panagopoulos, N. G., & Tsamakos, A. (2013). Curvilinear effects of corporate social responsibility and benevolence on loyalty. Corporate Reputation Review, 16(4), 248-262. doi:http://dx.doi.org.ezproxy.lib.monash.edu.au/10.1057/crr.2013.15

Morris, H. B. (1984). Marketing Strategy and the Structure of Aggregate, Segment-specific, and Differential Preferences. Journal of Marketing, 48(1), 62-67. Retrieved from http://web.a.ebscohost.com.ezproxy.lib.monash.edu.au/ehost/detail/detail?vid=0&sid=a2dbae96-8450-4ea4-af6a-7aec8866152a%40sessionmgr4009&bdata=JnNpdGU9ZWhvc3QtbGl2ZSZzY29wZT1zaXRl#db=bth&AN=5004445

Bose. (2019). Company profile. Retrieved from https://www.bose.com.au/en_au/products/headphones/earphones/quietcomfort-20i-acoustic-noise-cancelling-headphones.html#v=qc20_apple_black

Annmarie, H. (2018). The segmentation, targeting and positioning model. Retrieved from https://www.smartinsights.com/digital-marketing-strategy/customer-segmentation-targeting/segmentation-targeting-and-positioning/

Arieez, D. (2018). Market segmentation – Definition, Bases, Types & Examples Retrieved from https://www.feedough.com/market-segmentation-definition-basis-types-examples/

Chris, B. (2018) Why is social responsibility important to a business. Retrieved from https://www.investopedia.com/ask/answers/041015/why-social-responsibility-important-business.asp

Step. (2018) Beats Electronics, Bose, Sennheiser, Sony, and Skullcandy Expect to Lead Global Earphones and Headphones Market by 2003. Retrieved from https://www.arizton.com/blog/leading-companies-global-earphones-headphones-market-2023/

Cansu, G (2014) Bose presentation. Retrieved from https://prezi.com/wgsukdrsxxwd/segmentation-targeting-positioning-group-f/

Smith, W. R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1), 3–8. https://doi-org.ezproxy.lib.monash.edu.au/10.2307/1247695

Wang, C.-H. (2015). A market-oriented approach to accomplish product positioning and product recommendation for smart phones and wearable devices. International Journal of Production Research, 53(8), 2542–2553. https://doi-org.ezproxy.lib.monash.edu.au/10.1080/00207543.2014.991046

有其他的另外两个公司的产品

https://medium.com/@swapnalideshmukh111/noise-canceling-headphones-market-segments-opportunity-growth-industry-analysis-by-manufacturers-267e79574d4d

其他公司同样的产品

Hitesh, B. (2019). Marketing Mix of Bose. Retrieved from https://www.marketing91.com/marketing-mix-bose/.

Peterson, R., Peterson, R. A., & Kerin, R. (1978). Modern Marketing: Principles and Practice. Journal of Marketing, 42(4), 105–106. https://doi-org.ezproxy.lib.monash.edu.au/10.2307/1250104

Admin. (2019). Top 60 Best Headphone Brands – Complete Guide. Retrieved from https://headphonescompared.com/the-best-headphone-brands-from-worst-to-best/

El-Gohary, H. (2010). Book Review: Marketing: Real people, Real choices. International Journal of Business Science & Applied Management, 5(2), 43–44. Retrieved from https://search-ebscohost-com.ezproxy.lib.monash.edu.au/login.aspx?direct=true&db=bth&AN=52651402&site=ehost-live&scope=site

Appendix

Appendix A: https://skemaheadphonebrandsaudit.wordpress.com/beats-vs-bose/bose/

Appendix B: https://www.harveynorman.com.au/bose-quietcomfort-20-noise-cancelling-in-ear-headphones-for-samsung-and-android-devices-black.html

Appendix C: http://www.boseresearch.com/html/bose-research-social-responsibility.html

 

Marketing Concept and Market Segmentation at KFC

Introduction
Marketing Concept
The philosophy of marketing management is that organizational goals and achievements depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than the competitors (P. Kottler. 2008)
KFC is following market concept as it is focusing on the customer and making improvements in the menus according to the need and wants of the customer. It has added in its menus as fish zinger, salad, Arabian rice etc according to the demands of the customer.
The marketing concept emerged in the mid-1950s. Business shifted to a customer centered in which “sense and respond” philosophy concept came in Instead of a product-centered, “make-and-sell” philosophy. Actually marketing is gardening instead of hunting. The job is not to find the right customers for the products, but the right products for the customers. The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating superior customer value to its chosen target markets (Kotler and Keller, 2006).

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Theodore Levitt of Harvard explains that marketing focuses on the needs of the buyer and provides is preoccupied with the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering and finally consuming it (Levitt, 960). Many researchers have found that organizations who have grip on the marketing concept, achieve superior performance. Companies focus on high level innovations to meet customers’ needs and are likely to be more successful.
Criteria to analyze KFC Marketing Concept Implementation
The criteria for this purpose will be the level at which KFC is doing to meet the needs, wants and demands of the customer and how effectively it is using its resources to achieve the desired results. KFC is following market concept as it is focusing on the customer and making improvements in the menus according to the need and wants of the customer.
KFC believes in customer’s satisfaction and regularly conducts market research to gather information. KFC has introduced various methods and procedures to get the feedback from customers to satisfy their needs. One of the methods is online feedback about the service and products quality and taste. For this purpose a feedback questionnaire has been introduced in which experience of customers is taken about KFC service, product taste and quality to know the satisfaction criteria. Based on this, new products are introduced (kfc.com). Before the introduction of the new Product test marketing is also being done, for example KFC tested its product Double Down before its introduction (tradingmarkets.com).
KFC Corporation works on a broad quality program to deliver every time high quality food and outstanding service to customers. New Hot & Fresh programs are continuously designed to improve freshness and flavor from the kitchen to the counter. To enhance further experience of customers, improvement of food flavor, plated meal packaging and updated facilities are being implemented. In each restaurant a comprehensive customer care program is being incorporated to monitor, evaluate, and optimize the customer experience (Business Wire, 2001).
According to the President and Chief Concept Officer of KFC Corporation, “They are raising the quality bar across the board and continuing to differentiate KFC from other fast food restaurants.” KFC customers are getting a better eating experience through great tasting real food, freshness, diversity and quality”(Business Wire, 2001).
KFC Response to Customer Needs and Lifestyles
KFC has worked to satisfy customer needs by developing menu items that become accustomed to a portable, on-the-go society and consumer’s changing tastes. Popular menu items like Spicy BBQ Wings, Popcorn Chicken, Extra Crispy Chicken, and Crispy Caesar Twister have all been introduced to meet the need of customers. KFC also includes country wise local accepted menus such as fish zinger and Arabian rice according to the demand of the customers.
KFC introduces side dishes on a regular basis to ensure customer flavor and quality expectations are met. KFC believes that consumers seek more food variety and flavor than what most burger chains serve every day, therefore according to the President of KFC they will continue to offer new products that broaden KFC’s appeal to a wider audience.
Improved Dinning Experience
Customers always look for a dinning place with attractive atmosphere.
In addition to enhancing the quality of food and how it is served, the dining experience is elevated by an attractive decor. The innovative design for both interior and exterior of KFC restaurants attract customers. Due to this individual design restaurants receive aesthetic package to enhance drive-by appeal and differentiates KFC from other fast food restaurants.
Stress on Long Term Profitability
KFC stresses more on the long term profitability rather than short term sales, because it s continuously working to satisfy the needs of customers by doing market research, making new innovative and tasty products by testing in the market. These activities reveal that KFC policy is to make long term profits.
Segmentation
Segmentation is the identification and profiling of distinct groups of buyers who differ in their needs and preferences. Companies’ task is to identify the segments and then decide which one to target. By segmentation company can most probably better design, price, disclose and deliver the product or service to satisfy the target market. The company also can fine-tune the marketing program and activities to better reflect competitors’ marketing (Kotler and Keller, 2006).
Segmenting market is to bring customer satisfaction more cost effectively than competitors. Certain variables are involved in market segmentation; they are age, distance and purchase sizes etc. KFC’s has different market segment as compared to street food store selling cooked rice. There is difference in terms of the needs of customers. KFC’s customers give importance to Clean, and comfort, such as the middle income and high income groups. These groups can afford higher pricing. They demand quality and taste, therefore KFC can charge higher price as compared to a cooked food store to this segment.
Criteria for Segmentation
For effective segmentation following criteria is used by the firm (Kotler and Keller, 2006):
1. Measurable: It is the level to which the size and purchasing power of resulting segments is measured
2. Substantial: It is to know, whether chosen segment is large enough to necessitate consideration and whether it is profitable or not.
3. Accessible: This criterion determines that how consumers in the segment are reached by suitable marketing communications?
4. Differentiable: This criterion is set to know how the segments are different from each other and how they respond differently to various marketing mix elements and programs?
5. Actionable: This criterion shows that how an effective marketing program can be formulated to get results from the selected segment.
Market Segmentation by KFC
In the light of the above mentioned segmentation criterion, KFC selects the segments on geographic, demographic, psychographic, and behavioral basis. KFC initially focused on single segment through Niche Marketing with the offers of Combo Deals, but now the company is focusing on other classes and has increased the target market.
Geographic Segmentation
It is division of the market into different geographical units, for example states, nations, regions, cities, countries, or neighborhood. KFC deals internationally and has number of outlets in various countries. KFC sells its products according to the geographic needs of the customers, worldwide and it is measureable. For example in Australia its geographic segmentation is wide. It has 590 outlets in Australia (numberof.net). Geographically KFC is present in so many cities such as it is present in Melbourne, Sydney, Brisbane, Perth, Richmond, and in other cities of Australia. Density wise mainly its presence is in urban and sub urban areas there is no climate specificity. KFC has reached this segment as it is present in so many countries and in many cities of Australia.
Demographic Segmentation
Demographic segmentation relates to dividing the market into groups based on income, age, education, gender, family size, religion, occupation, race and nationality. KFC divides the market on demographic basis in the following manner:

Age 6-65
Gender Both Males and Females
Family Size 1-2, 3-4, 5+
Income $150 and above
Occupation Not Specific
Education: Not Specific
Religion: Not Specific
Generation: Not Specific
Nationality: Not Specific
Family lifecycle: Almost All

Segmentation based on ethnic groups plays important role, for example in Australia KFC has segmented its market on ethnic group basis and have introduced Halal Food for the Muslim community. In Bankstown and nearby Punchbowl, which have very high Arabic-speaking Muslim populations KFC has offered Halal Foods accredited by the Islamic Council of New South Wales (Contemporary Management Research, 2006). In this way KFC sales has increased by covering the Muslim population segment.
Under demographic segmentation, KFC focus on the income bracket of consumers. Its products are mostly aimed at the well off with higher disposable income to spend on premium fast foods. Although KFC do not segregate taste by gender they do tend to highlight the image of fried chicken by featuring couples in all their international adverts. KFC tend to link their products directly either sex in fulfilling the inner desires. KFC has also segmented the children group by introducing the Zinger Junior.
Psychographic Segmentation
Psychographic Segmentation means to divide a market into various groups based on lifestyle, personality, or social class characteristics. KFC has divided market on the basis of psychographic variables as follows:

Division by Social Class: Middle class, Upper class and Lower class
Life Style: Luxury and Indulgence
Personality: Gregarious, Authoritarians and Ambitious people

Perhaps the most important type of segmentation bases is the psychographic segmentation. To be attracted to eating super quality and tasted fried chicken products, people need to be part of a particular lifestyle segment. They should be among those who enjoy the luxury and indulgence connected with the brand. KFC has been portrayed to be a sign of individual taste and for this reason; the brand creates an image to be the number one fried chicken in the minds of consumers. 
Behavioral Segmentation
Behavioral Segmentation is dividing a market into groups based on the attitude, consumer knowledge, and use or response to a product. In this aspect KFC segmented the market on the basis of taste, quality, and price. Following are the different possible segments in this regard. KFC divides the market on the basis of behavioral variables as follows:
1. Taste conscious
2. Quality conscious
3. Class conscious
4.Combination of price and quality
TWO distinct segments
Using the above mentioned segmentation means, KFC has narrowed down its business to cater to specifically two main target markets,

Well off, taste and quality seeking adults who are normally brand conscious, innovators & trend followers
Health conscious, young adults who are interested in fast foods but prefer natural ingredients and low fat substitutes.

With the identification of two target segments but profitable segments KFC is practicing a niche market strategy. They have been reasonably successful in identifying and catering to this segment and this can be determined by their growth from USA to its global presence all over the world. To identify which segments are profitable to market not enough. Companies need to design a marketing mix to cater to each of these segments. The next section discusses KFC’s current marketing mix for the mentioned segments. 
4Ps MARKETING MIX used by KFC
Product
All products are made with exotic ingredients to make the fine taste. KFC provides variety of products for this segment. The products for this segment include high quality rich in calories such as Fried chicken, sandwiches, and Burgers with high price including big deals and size. For health conscious young adults, KFC has introduced Tran’s fat free fried chicken and burgers with same traditional taste (servinghistory.com). These products are low in caloric value such as Tender roast chicken Breast without skin, Hot and Spicy whole chicken Wings Etc (livestrong.com), therefore these suits to the health conscious segment. 
Price
An important part of the marketing mix is price which customers have to pay to purchase the KFC products. KFC have set different prices for different products for both the segments. KFC has adopted cost base pricing strategy. Since the segment belongs to high and middle income group, therefore prices are set on a higher side.
Place
Place is another marketing mix used by KFC. It has developed restaurants in the posh and prominent places in all countries. KFC has adopted direct channels to make the product available to target consumers. Both the selected segments customers can get their desired items from the nearby KFC restaurants. KFC also provides free home delivery to its customers from the restaurants.
Promotion
Promotion relates to the activities by the companies through which they communicate the products and influence target consumers to buy it. To attract both the segments, KFC sponsors various games and uses the slogan, MAXIMUM ENJOYMENT IN MINIMUM TIME. To attract the segment KFC has developed advertising slogan which is, “Nobody does chicken like KFC”.
Billboards, Newspapers Ads, Posters, Internet Banners, TV Ads, Transit Ads, and Leaflets are used to advertise the KFC products to further catch the attention of the stated segments.
The difference between the marketing mixes for both the segments is that Products are different for both the segments. For well of, taste and quality seekers Big deals and more caloric products are available whereas for health conscious consumers low fat products are prepared. Price structure is also different for both the segments. Regarding promotion both segment products are highlighted separately. For example KFC projected its Trans fat free frying with zero calories in the TV spots (findarticles.com).
Positioning
Positioning is the place, a product occupies in the minds of consumers’ relative to competing products. (Philip Kotler, 2008)
The major success factor of KFC is the way it positioned itself in the minds of the consumer. It took a strategic marketing attitude to achieve this positioning. KFC makes differentiation with competitors like MacDonald, King Burger and Subway by using the finest products and developing of a premium brand. The next section will look into how KFC position itself. 
KFC uses its attributes to Position its Product. To occupy a clear, distinctive and desirable place relative to competing products KFC, works on target consumer. In order to know the customer demands and improvements required, KFC takes feedback from the customers. KFC poisons against competitors by focusing on pure and fresh food to create a distinct and clear position in the minds of KFC customers. Since KFC has a strong brand name and are the leaders in fried chicken market, therefore it takes the help of this strength to position the products.
The KFC strategy is that it positions itself in local markets as a pleasant, bright, air conditioned restaurants with casual atmosphere. KFC targets families and young consumers which means positioning the products to “three generation” from middle and upper middle income segments.
Against competitors KFC positions itself with high quality, hygienic and affordable fast food products in an assortment of complete meals. It differentiate itself by highlighting that the chicken is prepared through unique secrets recipes in variety of traditions to suit diverse taste and eating occasions. It is also highlighted that meals are made more appetizing by supplementing with fresh, tasty side dishes and rich home style dessert.
KFC has differentiated its products on various grounds such as on the basis of Food, fun & Festivity, providing several alternatives of its special recipe in the form of chicken meals. It also offers a variety of deals to differentiate its products from its competitors. Further from the products it offers, KFC differentiates itself on the basis of the experience it provides: the right place, the right chicken, and the right celebration! Consequently the emphasis on ‘we do chicken right’ KFC also differentiates its service in the form of the take away, dine-in experience, and KFC on Wheels (scribd.com). In this way KFC has positioned and differentiated itself from the competitor like Macdonald, King Burger, and Subway.
 

Segmentation: E-business market

1.0 Introduction
This report will cover some outlines of segmentation and how to target the potential market for our new E-business in the market it is important that we understand what kind of requirements there are for effective segmentation. I would try to compare and contrast some of the important points give some examples. Also to keep our position safe in market and to keep running a successful business first we need to consider different segmentation processes and then I would define the business model according to our E-Business.
1.2 Identify the target markets for Complete Training Solutions’ intended expansion. The school will need to consider the demographic, geographical, psychographic, and consumer characteristics of there identified markets. For that school need to understand the market segments which are as follows.
2.0 What are the market segments are?
Market segmentation may be defined as Jobber says that “the identification of individuals or organistaions with similar characteristics that have significant implications for the determination of marketing strategy”.
“Where segmentation is the first and one of the most important steps” (Yan, 2008).
Where as according to Lancaster & Reynolds market segmentation is defined as “the process of breaking down the total market for a product or service into distinct sub-groups or segments where each segment may conceivably represent a separate target market to be reached with a distinctive marketing mix.
2.1 Market segmentation
A segment is a unique group of customers or potential customer who share some kind of common characteristic that make them different from other groups. Proctor thinks that different segments may have different needs, they may ask for different versions of the same product, pay different prices, buy in different places and they may be reached by different media. Every one has the own opinion and own choices. It is very important for us to keep a healthy relationship with the customers and to do this they need to understand their customers’ demand.

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According to Proctor in consumer markets customers and prospective customers can be grouped together or segmented by attitude, lifestyle, age, gender, stage in the family, lifecycle, job types, level of earnings and many others relevant variables. These things should be kept in mind whenever introducing any new brand because if we want to maintain our image in the market then we need to fully understands the logic of customers and their purchasing behaviours.
It is very important for us to identify what each segment wants, what it can afford, whether it is loyal to a particular competitor and how it might respond to an offer is vital information. As mentioned by Proctor that market segmentation and accurate targeting keeps a firm close to the market. It reduces waste, finds the best customers and helps to keep them satisfied.
Segmentation is very useful tool. But it is necessary for us to understand each and every sub-group in order to get the positive result from customers and to compete with competitors in the market.
As mentioned by Croft the methods of separating the market according to similarities that exist among the various subgroups within the market. Characteristics, needs and desires may be the common similarities. Market segmentation comes about as a result of the observation that all potential users of a product are not alike, and that the same general appeal will not interest all prospects. Therefore, it is essential to develop different marketing tactics to effectively cover the entire market for a particular product. There are four basic market segmentation strategies: behaviour segmentation, demographic, geographic, and physiographic segmentation.
2.2 Demographic segmentation
Involves dividing the market on the basis of statistical differences in personal characteristics, such as age, gender, race, income, life stage, occupation, and education level (Anon 2002)
We could focus on customers’ age because user needs and wants change with their age although they still want to learn the same types of courses. In order to introduce the new ideas in market and we should look at the design of the courses and what will be the learning outcomes we could meet the user demands of different age group.
Income is another popular basis of segmentation. Customers will be more attractive towards the less income. We need to understand this point that in marketing the courses that appeal directly to the customer is relatively low prices.
So therefore other variables of demographic are as important as mentioned above and they should not be neglected.
2.3 Psychographic segmentation
It is based on the assumption that the types of products and brands an individual purchases will reflect that person’ personality and patterns of living.
Generally to promote the product marketers are using celebrities, such as football team. If we use this technique for her new courses then we could create a big image in front of users. As it mentioned in the definition that every one has different life style, they have there own opinions but it could be influenced by other people personalities. This is benefit for us because for example if David Becham is learning the team building strategies from our institute then the user influencing his fans to join in the same course.
2.4 Geographic segmentation
Lancaster & Reynolds said that geographic is consists of dividing a country into regions that normally represent an individual sales person’s territory. This is mostly suitable for broad companies and these massive regions are then broken down into areas with separate regional manager controlling salespeople in distinct area.
This will help only if we expand our company our institute international, so far there is need of geographic segmentation. The geographic segmentation method is useful where there are geographic locations differences in consumption patterns and preferences but in our case we need to think about that because our institute is more about online courses so we have to consider about that.
2.5 Behavioural segmentation
As stated by Lancaster and Reynolds behavioural segmentation is based on actual customers” behaviour’ towards products. It has the advantages of using variables that are closely related to the product itself. Such as: brand loyalty, benefits sought, occasions (holidays, events which stimulate point for marketing) etc.
As Lancaster & Reynolds stated that the customers that can be divided into number of groups according to their loyalty, or their propensity to repurchase brand again is called brand loyality.
Actually we have to think about if we will provide the those learning facilities are those are enough for the learner requirement with that they can bring some more students for the reappearing in the same courses or tell others to participate in those courses those are good and according to the your standards this is some sort of the advertisement when any costumer tell other customer for the same product just we need to think about if, if the user doesn’t like our learning style then what will be our next plan to satisfied the learner.
3.0 Effective segmentation
The needs of customers should be central to all business decision making so therefore
Effective segmentation can be achieved by solving the problems of users. The major dimensions are price, service, product and quality for example an image of institute. Therefore it is necessary to identify all the requirements of user so realistic segments could be targeted. Kotler said that, “A customer orientation toward marketing holds that success will come to organizations that best determine the perceptions, needs, and wants of target markets and satisfy them through the design, communication, pricing, and delivery of appropriate and competitive viable offerings”.
According to Xu, Jianfeng “An accurate and effective segmentation technique is the basis of the ideal dynamic heart modeling”.
One author state that effective segmentation is about customer needs, demands and other is telling the importance of effective segmentation. Each segment should be evaluated in terms of its overall size, projected rate of growth, actual and potential competition and customer needs. According to the targets we need to decide which criteria is appropriate for assessing different bases.
3.1 Measurable
According to Recklies it has to be possible to determine the values of the variables used for segmentation with justifiable efforts. This is important especially for demographic and geographic variables. For an organisation with direct sales the own customer database could deliver valuable information on buying behaviour (frequency, volume, product groups, mode of payment etc.
3.2 Accessibility
Lancaster & Reynolds researched that accessibility base used should ideally lead to the company being able to reach selected market targets with their individual marketing efforts.
3.3 Validity
Reynolds and Lancaster mentioned the extent to which the base is directly associated with the differences in needs and wants between the different segments. Given that segmentation is essentially concerned with identifying groups with different needs and wants, it is vital that the segmentation base is meaningful and that different preferences or needs show clear variations in market behaviour and response to individually designed marketing mixes.
3.4 Substantial
According to Lancaster & Reynolds substantial is the base used which lead to segments which are sufficiently enormous to economically and practically worthwhile serving as discrete market targets with a distinctive marketing mix.
If we need to make segmentation effective it is important that we know that where and who we targeting. Segmentation is the basis for developing targeted and effective marketing plans.
4.0 Targeting
Lancaster & Reynolds mentioned that after market has been separated into its segments, the marketer will select a segment or series of segments and ‘target’ them. Each segment has different tastes and demands unique marketing mix in order to make the product or service more attractive to those customers who occupy that market segment. The process of manipulating the marketing mix in terms of differentiating products, methods of communication and other marketing variables is known as ‘target marketing’.
After the process of segmentation the next step is for us to decide how it is going to target these particular group(s). There are three options
Undifferentiated marketing
Differentiated marketing strategy
Concentrated Marketing
We should use differentiated marketing because we can use several segments and develop distinct courses with separate mix strategies at the varying groups.
Mr Jobber stated that “When market segmentation reveals several potential targets, specific marketing mixes can be developed o appeal to all or some of the segments”.
As Siklos and Abel says that “The…giving inflation targeting an additional credibility…boost many emerging markets”.
Comparing these two definitions of different authors its becoming noticeable that targets play an important roll to achieve goals. It would allow us to identify specific customers groups with different needs and wants and also the unfilled gaps in a market can be apprised and then satisfied through unique product or promotional offering (Lancaster & Reynolds 1999).
Target marketing can thus be said to be the process of identifying market segments that will be the most likely purchasers of a company’s products, and devising inventive marketing approaches to suit these specifically distinguished needs (Lancaster & Reynolds 1999).
After segmentation process has taken place as Lancaster and Reynolds mentioned that each segment should be identified and must be assessed in order to decide whether or not it is worthwhile serving as a potentially profitable target market with its own distinctive marketing mix. Where there is good sales and profit potential the favourable attributes of a target will include segments. If competition is not too intense and where the segment might have some previously identified requirements we should able to serve them.
5.0 Mix marketing
As mentioned by Lancaster and Reynolds that the marketing mix describe the functional aspects of marketing over which the company has control. This includes what E Jerome McCarthy dubbed the ‘four Ps’ in 1960, namely, Product, Price, Promotion and Place. In addition to these four Ps, is sometimes added a fifth P – People, which includes the people who mainly carry out the function of marketing and who interface with customers. These have been described as the key elements of the marketing function. There are two further Ps that specially relate to the service industry because of its tangible nature. These are Process and Physical evidence. These are called the seven Ps of service marketing. However we should understand the notions of four Ps which are still prevails in marketing litre.
The elements of marketing mix are all related in terms of how they combine in the marketing planning process. Lancaster & Reynolds pointed out that it is the skill of marketing management to ensure that the combination chosen is a successful one.
“Marketing is seen as a strategic management activity aimed at developing customer relationships. Concepts such as the ‘four Ps’ (product, price, place and promotion), marketing plans, the marketing mix, segmentation, promotion and evaluation are identified and discussed in relation” (Wakeham, Maurice 2004).
According to these authors we can see that with marketing mix we could raise the strong relationship with users and with the concept of 4 P’s we can identified and evaluate the segmentation. Let’s expand on these 4 Ps’ and see how we can link them with our new online learning facilities of Team Building, Assertiveness, Coaching Skills and Delegation Skills for the Busy Professional.
Mission statement draft:
A learning experience that prepare students to contribute in a dynamic, global, and diverse business environment. Our mission is to provide training to all level of the users who ever is connected with their business, Including team building, assertiveness, coaching skill and delegation skill for the busy professionals.
Objectives
Aim
Our school of intelligent learners is for the users who wants to build up there extra qualities for to compete the new era requirements. And our aim is to provide them up to date training which is purely concerned for the business levels. Our school is one of the best schools in Bradford. Currently we are struggling for more students that is why we are moving online and we will provide online courses for the relevant business. That was the our main reason to be online but there is one more reason to be online is that before we were enable to mark the global market now we can mark the global market by choosing online learning facilities now we can provide our service across the glob where ever any one and any type of user can access us and learn what ever they want from our main courses. We will provide online video and audio conferencing which is the solution to save the cost of the booking hotels and halls. Our main concern is to think about the user from different back ground from any part of the world we can arrange there course in any language. Our basic and main aim is to provide them solution for their problems.
Value proposition:
For the learner’s satisfaction school has to think about the language, course compatibility, learning facilities for the disable people which we don’t have at the moment so we have to concerned about those problems and we have to satisfy the learner needs by that as a distance training provider we will have to save their time and they can chose there own learning style and they can manage their staff as possible as they want they can call more people if they want they can organize big halls for more people and they can provide the requirements for the disable peoples as well by using the our video and audio libraries.
Product and services:
The school will provide Team Building, Assertiveness, Coaching Skills and Delegation Skills for the Busy Professional. That will be a complete training for the binger’s as well as for the expert. Expert can learn new techniques and binger can develop some skill too for the requirements of the new era. School will also provide some extra courses as well whoever will join the school for instance, web development in visual basic oracle it is good for the companies for there advertisement and for account as well. Learning on internet is the best learning style then old time styles you can learn while sitting at home at your own pace. The school will provide you the services of all the documentation and applications with which the students and companies can enable to access the schools resources.
Business models:
There could have been taken several attempts to categorize all the business models emerging with the coming new economy in order to understand how e-companies are making money or not making money. Some of are the company see there business model highly exposed such as the reverse action model of Priceline or online grocery model of shield. But still, is at all so clear so far? For instance, ebay.com might be typical of an Agora B-web like in Chicago but all the same as ebay.com and the main function is to be a online merchandiser. All of them have the same object but the different perspectives. Is there any better or could be worse way to explain or justify the business models? Are those comparing with each other or allowing comparisons? Do they help customer to categories the different actors in the same category, for instance online grocery shop? Do they explain why some of them benefits from the financial figures? Nowadays new business models do not finish emerging in electronic commerce and can become a major stake in the e-business game ((Maitre and Aladjidi (1999), Kalakota (1999)). It is even possible to patent them in some countries (Pavento (1999)! Research issue is important to understand the new business for to helping to design but not covered so well until now.
E-business modelling has similar as to enterprise modelling in general. Modelling helps the companies to develop their business visions and strategies, redesign and align business to operations, share knowledge about the business and its vision and ensure the acceptance of business decisions through committing stakeholders to the decisions made (Persson, Stirna , 2001). A business model is nothing else than the architecture of a firm and its network of partners for creating, marketing and delivering value and relationship capital to one or several segments of customers in order to generate profitable and sustainable revenue streams. The E-Business Model framework is therefore divided into four principal components.

The products and services a company offers, representing an ample value to a target customer (value proposition), and for which he is eager to pay.
The relationship assets the firm creates and maintains with the customer, in order to suit him and to generate sustainable revenues.
The communications and the network of partners that is necessary in order to create a good customer relationship. And last, but not least,
The financial aspects that can be found throughout the three previous components, such as cost and revenue structures.

If we think in depth how the school is related to the business models and how it will work to generate the more revenue. Basically the intelligent learner’s is associated with several business models. The main models include business-to-business (B2B) and business-to-consumer (B2C). B2B consists of companies and school doing a business with each other, whereas B2C involves selling directly to the end consumer (students). When intelligent learners first began, the B2C model was first to emerge. B2B transactions were more complex and came now.
Conclusion:
some of the benefits associated with online intelligent learners are include the availability of information 24/7. Students and companies can log onto the Internet and learn about products, as well as purchase them, at any hour. Intelligent learners can also save money because of a reduced need for a sales force. Overall, intelligent learners can help you to expand from a local market to both national and international marketplaces. And, in a way, it levels the playing field for big and small players. Unlike traditional marketing media (like print, radio and TV), entry into the realm of Internet marketing can be a lot less expensive and offers a greater sense of accountability for advertisers.