Targeting Strategy!

A Market segment is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.
As regards to my response to the third question, I belong to the female segment.
The segmentation variables in this segment includes,

• Demographic Variables which includes age, in the above case, form age 12 and above, gender in this case, female, race is also inclusive but as regards the said products, any body from any race could use it.
• Psycho graphic variables which includes personality, in this case, the person in question should be in need of the said product, value, meaning of what value is the product to the person concerned.

• Behavioural Variables includes the benefit sought, meaning how beneficial will the said product be to the potential consumer, product usage rate, brand loyalty i.e, how loyal the said customer is towards that particular brand, readiness to buy and decision making.

There are also other segments in the company producing the above mentioned product. There are segment for kids or children, for men, and for old people.
With the segments for kids, there are mostly products for kids and children which includes lotions to apply on babies body, face, neck, as well as their hair.
On the other hand, with the segment for men, there are lotions for men to apply on their face after shaving, or to take off pimples in case the have any, and lotions just to keep their face fresh and smooth.
For old people, there are facial lotions to take off wrinkles, sages under the eyes, and stretch marks as well.
A target market is a specific group of buyers on whose needs and wants a company focuses its marketing efforts.
The targeting strategy applied by the company selling my facial lotion is the Differentiated marketing strategy or in other words, multi segment marketing.
In this strategy, a firm decides to target several segments and develops distinct products or services with separate marketing mix strategies aimed at the different groups.
This technique creates greater loyalty and repeat purchase by considering consumer needs and wants.
It is advantageous in that, separate marketing mix are developed for each market segment, thus different markets can be identified.
It creates more sales than other marketing strategies.
In analyzing this strategy, I will say its the best as compared to other strategies. This is due to the fact that, it does not undermined other segments or a particular segment but tries to see into the needs and wants of the groups in need.
By producing lotions for men and women, both young and old, children and babies, it covers almost every group of persons.
The alternative strategies are Undifferentiated, and the Concentrated strategies respectively.
With the undifferentiated strategy, the firm may decide to aim its resources at the entire market with one particular product, mean while on the other hand, with concentrated strategy, the organization concentrates its marketing effort on one particular segment. The firm will develop a product that caters for the needs of that particular group.
The general level of marketing mix used by the said company is the product mix, price and promotion mix respectively. using the product, the producers make sure the product performs its aimed objectives which is mainly to effectively satisfy its consumers. That is, the producers deliver what they promise.
On the other hand, the package of the product has quite some information on how to go about the usage of the product. It also indicates what to do in case of irritations as well as the expiry date of the product.
The price of the product too is less as compared to other products of such nature. Its a little cheaper as compared to that of some competitors.
Promotion too has an important role to play in the marketing of the product. The company in charge advertises its products via various media such as the magazines, display, samples, internet, etc.
The most important tools are the product, and promotion.
The product mix can be manipulated in various way in order to meet consumer satisfaction. This from the product its self, right down to the package.
Promotion too is very vital in the life span of a product in that, it has a great dealt to do as far as the sales of a product is concerned, such as advertisements, sales promotion, etc. Awareness is part of promotion. If people are not aware of the existence of a product, then they will definitely not buy the products due to lack of awareness and information.

Who I am as regards consumer behaviour!!

Consumer behaviour is the study of how people buy, what they buy, when they buy and why they buy. It blends elements from psychology, sociology, socio psychology, anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psycho graphics, and behavioral variables in an attempt to understand people's wants.

In Describing my self as a consumer, I will say before I indulge in any buying process, I first of all ask my self if I really need the item in question. If I need the item, I try to ask my friends or relatives what they think about the product and if the item in question is of good quality in their eyes. I equally compare different brands as well as prices, then finally decide which brand is best. Mostly at times, I really don't care if the said product I intern buying is not in fashion. I just go in for what I like and at times, other people's opinion don't count.

Buyer decision processes are the decision making processes undertaken by consumers as regards to a potential market transaction before, during, and after the purchase of a product or service.
The buying decision process I have experienced is the General model.
A general model of the buyer decision process consists of the following steps:
Want recognition;
Search of information on products that could satisfy the needs of the buyer;
Alternative selection;
Decision-making on buying the product;
Actual Purchase
Post-purchase behaviour.
AWARENESS - before anything else can happen the potential customers must become aware that the product or service exists. Thus, the first task must be to gain the attention of the target audience or consumers to be. It is not enough to just create awareness but grab their attention. The message must interest them and persuade them that the product or service is relevant to their needs. There fore, the message must be clear and relevant to the target audience needs. Once an interest is established, the prospective customer must be able to appreciate how well the offering may meet his or her needs, but the message must go even further; to persuade the reader to adopt a sufficiently positive attitude towards the product or service that he or she will purchase. Post purchase behaviour then comes in after the product has been purchased. Basically, the first purchase is always a trial purchase to see if the said product will perform its said gaols or function. If it turns out positively, then the buyer might then practice a repeat or regular purchase depending on how the need for the product arises.

Describing how I was influenced by marketing on each phase of the general model are as follows:
After watching an advert on TV or reading a magazine concerning a product, such as a facial lotion, my want for the said product might arise.
I try to search for information on how effective the said product is. Again, marketing comes in still through adverts and provides info on how effective the product is.
If I still have my doubts, then I try to inquire from friends if they have ever tried the said product and what they think about it.
If I am convinced about the effective nature of the product, then I try to find similar products and compare their prices, product features and effectiveness. My final decision might be influenced at times by the sales persons. If they are convincing enough and can testify their usage of the product and its effective nature, then i can go ahead and buy.
On the other hand, if after using the product for at list a week and my expected results are not satisfactory, I might then decide never buy the product again, and latter get rid of what I bought earlier on. But if on the other hand I was satisfied with the product, I will definitely practice a regular purchase and maybe recommend the product to others.

The Marketing Environment!!

Market environment is simply referred as those forces that affects an organisation both internally and externally.
Market environment may either be macro or micro environmental forces respectively.
Micro environmental forces affects or influences an organisation or company directly. This includes suppliers of an organisation, its customers or consumers, and other local stakeholders.

The firm can easily manipulate or control these forces or in order words, exercise some degree of influence on these forces. Micro is accomplished through the manipulation of the variables over which a company has control in such a way as to optimise its objectives. These variables are what we call marketing mix which are in other words known as the p's of marketing namely product, price, place or distribution, promotion and people.

On the other hand, macro marketing forces are those forces that affects an organisation externally. This means, they are forces that are not under the direct control of the organisation and that the organisation cannot control.
These forces can not be manipulated by the organisation but rather are liable to changes and so, the organisation has to be flexible to adapt to those changes.
This includes huge competition, the law, politics, economy, culture and technology.

Marketing Environment and how it affects a company

The Company in question is a company by name Marimekko.
Marimekko Corporation is a leading Finnish textile and clothing design company that was established in 1951. The company designs, manufactures and markets high-quality clothing, interior decoration textiles, bags and other accessories under the Marimekko brand, both in Finland and abroad.
How environment forces affects Marimekko Corporations are as follows:

Marimekko has a dual strategy, which is to create top design, but the designs must also be financially profitable. With this strategy, they are able to manipulate their products in various designs and thus, attract more customers. This plays a role at the micro level since it directly affects the consumers, through the various designs.

They may also change the prices of their products. This might either be in increase or decrease depending on how the business is flourishing.

Developing and expanding distribution channels that support the brand’s image and making sure the goods are easily accessible to its customers is one of the strategies of Marimekko as far as distribution of its products is concerned.

Marimekko equally does a wide range of promotion as far as the sale of its products is concerned. They either advertise their products via various media, and also do sales promotion through sale promotional schemes such as free gifts and samples to its customers.
People basically has to do with customer service and Marimekko does provide good customer service. It also cares about the well being of its employees too by meeting to their needs as well as their aspirations so long as those needs are within its scope.

On the other hand, Marimekko is also affected by macro forces which includes the state. They have to respect the state laws and there by carry out business which is law abiding. It does respects the sate laws and works according to its rules, such as registering its corporation according to state rule and following all necessary formalities required by the state.
Marimekko pays taxes to the state as the law demands.
Respecting the individuality of different cultures and people as well as bearing the social, financial and cultural responsibilities of the company is also one of its core value and responsibilities.
Marimekko’s ready-to-wear collections offer high-quality, functional clothing for different age groups and occasions, including business, leisure and evening wear. In addition to new seasonal products, the clothing line includes classics and other basic products that are always available.
Marimekko develops its clothing collections in tune with the spirit of the day. To bolster its brand and seek new target groups, the company maintains a diverse design portfolio and renews it designs regularly. This designs differ in seasons.
As regards technology, Marimekko works in line with technology in that purchases could also be done on line and not necessarily physical purchase.
Some of its products are displayed on line for viewers or potential customers.
Cotton and linen fabrics that are printed at Marimekko’s own textile printing factory are the main interior decoration products. They are in line with other textile industries since they don't rely on others for their production.
Marimekko provides adequate products to its consumers at reasonable prices, and at the best quality so far. This makes it possible for them to be in line with competition and be able to face and withstand competitors.

Marketing in my point of view!

Earlier on, I thought marketing meant buying and selling.
Although in a way it is linked to buying and selling, after my study of the subject and what it actually meant, i came to realize it didn't only involve buying and selling but included production, pricing, promoting, distribution and advertising goods and services.
It also involves anticipating consumer needs and wants in the near future, and carrying out marketing research as to how these needs and wants can be delivered to the said consumers and at what precise time.
Marketing is important in my life in the sense that, a good portion of my daily activity is centered around it.

Marketing helps in the production of goods and services and its distribution. This is effective when producers produce goods or services, and in order to get the said goods or services to the final consumers, whole sellers step in as well as retailers. In a nut shell, the channels of distribution come in and play their role.

Marketing helps to create awareness.
Creating awareness in the sense that, it helps me to know of the existence of a company and its products. This through divers means like the advertising media, which includes TV, radio, news papers, magazines, bill boards, the Internet etc.

By creating awareness, it leads to purchases. If I am not aware of a company nor its products, all my needs and at times wants will not be meet since I will not know where to turn to. It provides information on how to go about the usage of a product, its pros and its cons. In a nut shell, marketing helps to inform people.

Marketing affects our lives in that it helps people to gain employment. This is done in the sense that, whether you work in a company as an employee or are self employed, that is marketing. Working as an employee, you offer your services to your employer for remuneration. On the other hand, being self employed, you offer services to the general public in return for an income. This is marketing.

Marketing helps to build up the economy of a country. This is carried out when firms or companies employ people. The said employees pay taxes to the state, as well as the companies involved. In the long run, every employment is centered around marketing. Taxes helps the state to run its affairs.

Marketing then, and Now.
In the olden days, one could only shop by visiting shops. But today, with the help and advent of
modern technology, marketing is no longer what it used to be. Marketing has changed from what it used to be because of the high demands producers face nowadays. Peoples needs and wants turn to increase by the day. These said needs and wants have to be meet to in one way or the other, hence, change in marketing.
This has both positive and negative effects in the marketing sector.

With info tech, its easy nowadays to shop. All one needs to do is to visit the web sides, order on line, and have your products delivered at your door step.
This is advantageous in that, one does not need to travel far and wide to get these products. Just place your orders, stay home and wait for your products.
With the aid of credit sales and hire purchase, consumers can lay hands on goods, and latter pay for them either in instalments or in bulk, depending how how viable and credit worthy they are.

It is disadvantageous in that, ordering on line turns to be more expensive than physical purchase.
At times, consumers are deceived. This is possible when a consumer sees a product on line, admired it and placed the order, but after delivery, they might be disappointed because what was on line is not exactly what has been delivered. Either the quality is not that good as it seamed on line or the the product is partly damaged.
With on line purchase, mostly at times, payment is done with the aid of a credit card. Now, with Internet hackers, it is at times risky to provide info especially information on your credit card since it might fall in the hands of hackers.