Essay
Unit 3: Introduction to Marketing- P5
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P5: explain how and why groups of customers are targeted for selected products
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BTEC Level 3 90 Credit in BusinessUnit 3: Marketing
INTRODUCTION
In this assignment, market segmentation will be explained along with types of market
segments. Different target groups will also be listed along with products that are
provided in the market for their target groups. The products will contain a description
about the product, prices of the product and explaining what type of customers will
be able to purchase this item, place in which the customer can purchase this item
and was ways in which companies promote their products and how effective it is to
attract that target group.
AIMS AND OBJECTIVES
1. To be able to define market segmentation.
2. To be able to list different types of market segments and use them in work
produced.
3. To be able to research product and collect necessary data and information to
complete assignment.
, MARKET SEGMENTATION
Market segmentation is the dividing of a variety of customers in the market by similar
characteristics or interests. It is important to segment customers into different criteria’s to be
able to provide for the customers/consumers’ needs or wants. This helps the business to
create idealistic marketing plans and to produce the right items to attract those
customers/consumers.
Types of Market Segments include age, gender, ethnicity, lifestyle, geographical location,
socio economic group, marital status, social factor, loyalty status, employment/
unemployment.
Product Name: BUSH BABY WORLD (Shimmer Palace)
Target Group: Children – aged up to 10 years
This product is, provided for consumers, mainly females
between the ages of 4 and over. Customers (which are the
parents or other organization such as day-cares, etc.) will buy
this product because it suitable for their children (which are the
consumers) to play with (which is a business to customer
purchase) because it is easy to use, it keeps the children occupied; it contains a variety of
different pieces such as (Shimmer Palace, Throne, Dressing Table, Palace Cat, Cat Pod
Basket, 2 Shimmer Stars, Table and food) and makes the children happy. It is only 830 MM
in height; it has a musical light show, which plays 3 pieces of music with the light up flashing
ball etc. This item can be, used in day cares or pre-school which is business to business
purchase. It has a variety of girly colours such as pink and purple and will fascinate younger
girls who watch a lot of princess themed or pet themed Television Shows.
Price: £59.99
Parents who buy this toy are most likely to be, employed in the job category of professionals
to skilled manual (A-D). Other competitors sell this product cheaper while others sell it more
expensive ranging from £50-£110. The actual price is £99.99 but due to it being on sale
saving the buyer £30 is had fallen to the listed price. This sale ends on Christmas Eve and
will return back to the old price.
Place: Argos
This product can be, bought online and delivered directly to the homes or bought directly
from the stores. It is also available at the stores for a more expensive price such as eBay,
Debenhams, Very, Look Again or Littlewoods.
Promotion: This product is promoted by being advertised online via social media/internet,
television. Television is most likely to get the attention of youngers kids for they are more
likely to be watching television than on social media. On the other hand, parents who are
looking for Christmas gifts or just toys in general for their kids, might see this product
advertised when browsing their social media.
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