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i. Geographic segmentation - This calls for dividing the market into different geographical units such as nations, states, counties, cities, or neighbourhoods. The company decides to operate in one or a few geographical areas or to prepare in all but pay attention to variations in geographical needs and preferences. Some companies even subdivide major cities into smaller geographical areas/major submarkets depending on the preferences of the individuals residing in those areas.
ii. Demographic segmentation - This consists of dividing the market into groups on the basis of demographic variables such as age, sex, family size, family life cycle, income, occupation,, education, religion, race and nationality. Demographic variables are the most popular bases for distinguishing customer groups. One reason is that consumer wants, preferences, and usage rates are often highly associated with demographic variables. Another is that demographic variables are easier to measure than most other types of variables. Even when the target market is described in non demographic terms (say, a personality type), the link back to demographic characteristics is necessary in order to know the size of the target market and how to reach it efficiently.
iii. Psychographic segmentation - The buyers are divided into different groups on the basis of social class, life style, or personality characteristics. People within the same demographic group can exhibit very different psychographic profiles.
iv. Behaviour segmentation - The buyers are divided into groups on the basis of their knowledge, attitude, use or response to a product. Many marketers believe that behaviour variables are the best starting point for constructing market segments.
Kavungya answered the question on April 28, 2021 at 09:54
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Differentiate between consumer markets and industrial markets
Date posted: April 28, 2021. Answers (1)
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a) Analyze the operations of informal groups indicating their benefits to an organization
b) Explain the...(Solved)
Informal groups develop spontaneously as employees interact in the work place.
a) Analyze the operations of informal groups indicating their benefits to an organization
b) Explain the disadvantages of informal groups
Date posted: April 28, 2021. Answers (1)
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The previous manager was keen, understanding and strict; he closely observed performance, weaknesses and strengths of each staff member. He commended what he observed.
The services offered by Block Industries Ltd were efficient and highly regarded. Staff used to take part in many discretionary activities such as involvement in public affairs and voluntary unpaid overtime work.
A year ago, a new manager was appointed. The new manager, trained in a famous business school, appears to be cold and aloof. He immediately promoted two section heads to be assistant managers, one in charge of public relations, the other in charge of administration to be responsible for the newly introduced weekly performance reports and briefing meetings.
Since the appointment of the new manager, 30% of the staff have left the organization and the rest have gradually ceased all their discretionary activities. There is now a policy of positive non co-operation adopted by employees.
Required:
a) In you own words, briefly analyze the human resources problems facing Block Industries Ltd.
b) Identify five causes that might have led to the prevailing situation and suggest the ways in which the situation can be corrected.
Date posted: April 28, 2021. Answers (1)
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Explain this effect as it relates to:
a) Employees’ behaviour.
b) Work structure.(Solved)
Business process re-engineering affects the way in which work is undertaken in an organization.
Explain this effect as it relates to:
a) Employees’ behaviour.
b) Work structure.
Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Explain the benefits...(Solved)
In recent years, many business leaders have considered the viability of forging strategic alliances with other organizations with whom they share common objectives.
Explain the benefits that may accrue to organizations from forging strategic alliances
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Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Outline the factors to be considered when designing...(Solved)
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Outline the factors to be considered when designing such a system
Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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ABC Ltd. is a profitable manufacturing company with a good track record of continuous growth over the last decade. The general business environment is rapidly changing with the introduction of new manufacturing processes and market liberalization in the region.
The board has appointed a new managing director who is anxious to create a momentum for innovation and change in the organization. He is aware that introducing change is relatively easy when a company is facing a crisis but far more difficult when all is well. As a business development manager in ABC Ltd., the director has asked you for advice.
Prepare a memorandum to the managing director in which you discuss:
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b) How the company may stimulate a pro-change culture in the organization.
Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Date posted: April 28, 2021. Answers (1)
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Describe the difficulties managers may encounter when forecasting.(Solved)
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Date posted: April 28, 2021. Answers (1)
- Write explanatory notes on the marketing concepts listed below:
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b)The product concept
c)The selling concept
d)The marketing concept
e)The societal concept(Solved)
Write explanatory notes on the marketing concepts listed below:
a)The production concept
b)The product concept
c)The selling concept
d)The marketing concept
e)The societal concept
Date posted: April 28, 2021. Answers (1)