BTEC Business Level 3: Unit3 Introduction to Marketing. This Assignment is very well structured with easy to read subheadings. Using this Assignment as your template will ensure you attain Distinction overall.
It is also known as market segmentation this is the use of dividing the market of future customers to
different people. The people that it will be divided to are based on their attributes and
characteristics. Because of the interests it will attract factors like position of needs and interest, they
actively target the audience and will react positively to business strategies.
Psychographic
Psychographic description is a tool that is widely employed, which is used to separate consumers
from past, present and potential customers, they all share something in common that is their
characteristics such as lifestyle habits, values and several other variables, etc. They are split into
subgroups, many of which are called psychological influences. An example of a business that is
selling protein shakes and powders will want to advertise their own product at the gym as most of
their customers and buys will be coming from.
Geographic
Geographic segmentation is where an organisation segments the business depending on place /
geography. They are split down into towns, districts, and sometimes cities. Often geographical
segmentation may also be worldwide too, many companies are looking for this in the hopes of
growth with their company. They service consumers in a focused location. An example of
geographical segmentation is mc Donald’s. Mc Donald’s is found in many different countries across
the globe.
Demographic
Demographic segmentation is a type where the customers are divides into different groups,
depending on variances such as gender, age, education. An example is health and fitness business
where the business who want to sell health related items such as dumbbells or benches will want to
advertise to a specific age group this would be ideal for teens 17+ for both male and females as from
this age onwards induvial try to keep fit and stay healthy.
Sociocultural
Sociocultural segmentation is the segmentation that takes social variables and cultural variables and
not differentiate between the two. They’re shared values and attitudes towards people. An example
of this is a high-end restaurant which food prices are high, will aim to add another branch or start
their business in a wealthy area so that business will be affordable for the locals.
, Size
Size is important for business to businesses as It's crucial that companies are segmented by size
because bigger company that gets plenty of clients and won't require as much help as smaller
businesses who need more help from the bank particularly as they're just starting out. In
comparison, bigger businesses might require more advanced guidance on their budgets to prevent
making any errors that could impact their big company.
Value
There are other factors that will make a company successful thing like the economics and social
advantages that they offer the consumer new technologies all of which in return for the quality the
consumers pay for the products or services. If it comes to segmentation, the profitability of the
company is typically taken into consideration by the money the company produces. They divide it by
the money they are receiving and the money they are expected to gain
Region
Region is an important part for any business to business segmentation. The businesses will first look
at the location which will have an effect to selling products etc. Businesses such as Iceland only
operate in areas within the UK only. They can only be found within the UK and not in international
countries. important financial sectors operate in Places such as London, Zurich and Frankfurt. This
means that businesses would want to do their business and operate in these locations.
Product & Industry
Product and industry are an important part of segmenting Business to Business. The company will
take use of the service they have in several different areas and utilise it for multiple purposes. They
achieve this segmentation by targeting a specific group of customers who want a particular service
from the manufacturer and make sure that the pump they offer to you is exactly what the consumer
wants. For an example caterer will use this.
The target would be
single people who are
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