INTRODUCTION
Market research provides a wide variety of information about the people who may be interested in buying a business’s products. For example it might tell a business that a new chocolate bar will mainly be bought by people aged 16-25. It might indicate that older people have bought more of magazine than younger people in the last year.
Producers may use this information to identify people with similar needs.
Breaking down a market into sub-groups with similar characteristics is known as MARKET SEGMENTATION.
A businesses can target these groups and develop products and services for each of them.
Segmentation by age
Many businesses pay attention to the age of their customers.
E.g. Holidays packages and Retirement program for 60s.
Segmentation by Gender
Manufacturers may target either males or females.
E.g. Mobile phone manufacturers target a growing number of females buying the latest ‘technological gadgets’ by designing accessories to suit their requirements.
Segmentation by level of education or occupation
The market usually divided into those who have or have not studied at higher education level.
E.g. A magazine aimed at those with certain qualifications.
Segmentation by social class
Markets are often divided by social class.
E.g. VIP room in 5 stars hotel is aimed to Higher social class people.
Segmentation by income
It’s different with social class. E.g. A self-employed skilled worker (electrician) may receive the same income as a middle manager, however because of his/her occupations the two people will be in different social class.
Segmentation by religion
Businesses may divide markets by religious groups.
E.g. Christian Television channel in the UK
Segmentation by ethnic group
Market can be segmented by country of origin or ethnic group.
E.g. Clothing and hair accessories for African-caribbean groups.
Segmentation by family characteristics
The features of entire families may be used to segment the market.
E.g. Young singles, married with no children.
Segmentation by political voting preference
E.g. Clothes with SBY pictures or Democrate Party aimed at SBY fans and voters.
Segmentation by geographical region
This might include considering the region of a country that consumers live in and the nature of the region, e.g. Rural, urban, semi-rural or suburban. It may also consider the type of house, road or area of a city that people live in.
Segmentation by personality and lifestyle
Consumers are sometimes classified according to their psychological characteristics.
E.g. Sports products
Segmentation by purchases
This segments consumers according to their behaviour when purchasing a product.
E.g. British airways established ‘Executive Club’ to the customers.
Uses of Segmentation
Why might a business attempt to identify different market segments?
-The information would allow it to sell more products and increase its profit.
-have greater knowledge about the customers and produce products to suit their needs better.
-To target particular groups with particular products.
-To prevent products being promoted to the wrong people.
End of Doc.
Selasa, 19 Mei 2009
Senin, 18 Mei 2009
Grade 9 : Market Research (Posted on Tuesday 19 May 2009)
MARKET RESEARCH
Market research : the collection, collation and analysis of data relating to the marketing and consumption of goods and services.
E.g. A business is gathering information a bout likely consumers of a new product and use the data to help in its decision making process.
The data gathered by this research might include :
Whether or not consumers would want such a product.
What type of promotion will be effective.
The functions or facilities it should have.
What style, shape, colour or form it should take.
The price people would be prepared to pay for it.
Where people would wish to purchase it.
Information about consumers themselves-their age, their likes, attitudes, interests and lifestyles.
What consumers buy at present.
Market research is about researching consumers preferences and tastes. Marketing research is a wider term, which also includes the analysis of marketing strategies, e.g. The efect of promotions such as advertising.
The uses of market research
A market is anywhere that buyers and sellers come together to exchange goods and services. The uses of market research are :
-Descriptive reasons
-Predictive reasons
-Explanatory reasons
-Exploratory reasons
-Descriptive reasons : A business wants to identify what is happening in its market.
-Predictive reasons : A business wants to predict what is likely to happen in the future.
-Explanatory reasons : A business wants to explain a variety of matters related to its marketing. E.g. A bus company wants to research why there has been a fall in the number of passangers on a specific route.
-Exploratory reasons : This is concerned with a business investigating new possibilities in a market. E.g. A softdrink company can do trial a new canned drink in a certain area to test customer reaction before market the product nationally.
Once a business has decided how it wishes to use market research data, the next stage is to identify the aspects or areas that it wants to concentrate on.
The Scope of market reseach
Area of reseach : Possible elements to be considered
The market : Identifying market segments
Competition : Analysing the strengths and weaknesses of competitors
Promotion : Deciding the choice of media for promotion
The Product : Identifying customer wants
Distributing the product : Identify suitable retailers
Pricing the product : Discover the value for products
Primary and Secondary research
Primary : The information is collected by researcher. Field research can be done itself or by market research agency.
Secondary : The information is already exist. it is gathered from secondary data. e.g. Within a business : Existing market reseach report, Sales Figure, Reports, internet, stock movement
Methods of field research
Questionnaries
Personal interviews
Telephone interviews
Postal surveys
Observation
IT-based research
Focus group
The benefits of market research
An aid to decision making
Reducing risk
Providing a link to outside world
The size of markets
Public relations
End of Doc.
Market research : the collection, collation and analysis of data relating to the marketing and consumption of goods and services.
E.g. A business is gathering information a bout likely consumers of a new product and use the data to help in its decision making process.
The data gathered by this research might include :
Whether or not consumers would want such a product.
What type of promotion will be effective.
The functions or facilities it should have.
What style, shape, colour or form it should take.
The price people would be prepared to pay for it.
Where people would wish to purchase it.
Information about consumers themselves-their age, their likes, attitudes, interests and lifestyles.
What consumers buy at present.
Market research is about researching consumers preferences and tastes. Marketing research is a wider term, which also includes the analysis of marketing strategies, e.g. The efect of promotions such as advertising.
The uses of market research
A market is anywhere that buyers and sellers come together to exchange goods and services. The uses of market research are :
-Descriptive reasons
-Predictive reasons
-Explanatory reasons
-Exploratory reasons
-Descriptive reasons : A business wants to identify what is happening in its market.
-Predictive reasons : A business wants to predict what is likely to happen in the future.
-Explanatory reasons : A business wants to explain a variety of matters related to its marketing. E.g. A bus company wants to research why there has been a fall in the number of passangers on a specific route.
-Exploratory reasons : This is concerned with a business investigating new possibilities in a market. E.g. A softdrink company can do trial a new canned drink in a certain area to test customer reaction before market the product nationally.
Once a business has decided how it wishes to use market research data, the next stage is to identify the aspects or areas that it wants to concentrate on.
The Scope of market reseach
Area of reseach : Possible elements to be considered
The market : Identifying market segments
Competition : Analysing the strengths and weaknesses of competitors
Promotion : Deciding the choice of media for promotion
The Product : Identifying customer wants
Distributing the product : Identify suitable retailers
Pricing the product : Discover the value for products
Primary and Secondary research
Primary : The information is collected by researcher. Field research can be done itself or by market research agency.
Secondary : The information is already exist. it is gathered from secondary data. e.g. Within a business : Existing market reseach report, Sales Figure, Reports, internet, stock movement
Methods of field research
Questionnaries
Personal interviews
Telephone interviews
Postal surveys
Observation
IT-based research
Focus group
The benefits of market research
An aid to decision making
Reducing risk
Providing a link to outside world
The size of markets
Public relations
End of Doc.
Kamis, 14 Mei 2009
Grade 7: What is Marketing?
WHAT IS MARKETING?
Posted by Anang P.Setiawan (14 May 2009)
IntroductionA Market is any set of arrangements that allows buyers and sellers to exchange goods and services. (it can be anything from a street market in a small town to a large market involving internationally traded goods)
What is Marketing?
Is marketing the same as advertising or selling?
NO
Selling or advertising is just one of many marketing functions.
So, what is marketing?
“Marketing is the management process involved in identifying, anticipating and satisfying consumer requirements profitably”.
The features of Marketing
Consumers are of vital importance.
Marketing is a process.
Marketing involves building relationships with customers.
Marketing affects all aspects of a business.
Marketing is not just about selling.
Marketing and advertising are not the same.
The main objective is profit making.
Consumers are of vital importance.
A product has a far greater chance of being a success if it satisfies consumers’needs.
Consumers are of vital importance.
A product has a far greater chance of being a success if it satisfies consumers’needs.
Marketing is a process.
It does not have a start and an end, but it is ongoing all the time. Business must be prepared to respond to changes that take place.
Marketing involves building relationships with customers.
Profitable businesses are often built upon good customer relations.
Marketing affects all aspects of a business.
E.g Production department would not continue making a products that does not satisfy the needs of the consumers at whom it is aimed.
Marketing and advertising are not the same.
Selling is just only one part of the maketing process. Before selling the products, businesses do some activities such as doing market reasearch, testing of products on consumers and design of product.
Marketing and advertising are not the same.
Advertising is just one of a number of tactics used by marketing departments. Other marketing methods include promotions such as free gifts.
The main objective is profit making.
Businesses in competitive markets must make a profit in the long run to survive.
Product Orientation
Many businesses in the past, and some today, could be described as PRODUCT ORIENTATED. It means that the business focuses on the production process and the product itself.
Market Orientation
A MARKET ORIENTATED business is one which continually identifies, reviews and analyses consumers’needs. It is led by the market.
Consumers are the central to a firm’s decision making.
Advantages of a market orientated business
It can respond quickly to changes in the market because of market information.
Stronger position to challenge the new competitors entering the market.
Confident to launch a new product.
End of Doc.
Posted by Anang P.Setiawan (14 May 2009)
IntroductionA Market is any set of arrangements that allows buyers and sellers to exchange goods and services. (it can be anything from a street market in a small town to a large market involving internationally traded goods)
What is Marketing?
Is marketing the same as advertising or selling?
NO
Selling or advertising is just one of many marketing functions.
So, what is marketing?
“Marketing is the management process involved in identifying, anticipating and satisfying consumer requirements profitably”.
The features of Marketing
Consumers are of vital importance.
Marketing is a process.
Marketing involves building relationships with customers.
Marketing affects all aspects of a business.
Marketing is not just about selling.
Marketing and advertising are not the same.
The main objective is profit making.
Consumers are of vital importance.
A product has a far greater chance of being a success if it satisfies consumers’needs.
Consumers are of vital importance.
A product has a far greater chance of being a success if it satisfies consumers’needs.
Marketing is a process.
It does not have a start and an end, but it is ongoing all the time. Business must be prepared to respond to changes that take place.
Marketing involves building relationships with customers.
Profitable businesses are often built upon good customer relations.
Marketing affects all aspects of a business.
E.g Production department would not continue making a products that does not satisfy the needs of the consumers at whom it is aimed.
Marketing and advertising are not the same.
Selling is just only one part of the maketing process. Before selling the products, businesses do some activities such as doing market reasearch, testing of products on consumers and design of product.
Marketing and advertising are not the same.
Advertising is just one of a number of tactics used by marketing departments. Other marketing methods include promotions such as free gifts.
The main objective is profit making.
Businesses in competitive markets must make a profit in the long run to survive.
Product Orientation
Many businesses in the past, and some today, could be described as PRODUCT ORIENTATED. It means that the business focuses on the production process and the product itself.
Market Orientation
A MARKET ORIENTATED business is one which continually identifies, reviews and analyses consumers’needs. It is led by the market.
Consumers are the central to a firm’s decision making.
Advantages of a market orientated business
It can respond quickly to changes in the market because of market information.
Stronger position to challenge the new competitors entering the market.
Confident to launch a new product.
End of Doc.
Minggu, 10 Mei 2009
Kendra (Boynton Beach, Fla.) Real Estate Broker
Kendra, 26, is an ambitious and highly successful real estate entrepreneur. She obtained her undergraduate degree in linguistics from the University of Florida, and upon graduation became the founding Editor-in-Chief of an award-winning lifestyle magazine in South Florida. Kendra went on to obtain her real estate license, and incorporated her media expertise into the development of My House Real Estate, Inc. an innovative real estate marketing company specializing in condo conversions and land acquisitions.
My House Real Estate, Inc.'s marketing strategies are virtually unparalleled, and have generated involvement in some of Florida's most sought after real estate. Kendra is currently one of the highest producing real estate agents in the marketplace. Additionally, she is "Special Agent 53" on My House, Florida's #1 real estate investment talk radio show on Clear Channel radio.
Alex (Seattle) Prosecutor
Alex, 29, was born and raised on an apple farm in Brewster, Wash. After leaving a career as a nationally ranked skier, Alex studied archaeology at Jerusalem University and completed degrees in Theology and Latin at Seattle Pacific University, where he won an award for his weekly editorial column in the college paper.
In 2000, Alex moved to D.C. and lobbied for the apple industry and successfully oversaw the entire bidding and shipping logistics for the USDA's first-ever purchase fresh apples for inclusion in humanitarian food aid programs. Alex just received his J.D. degree from Seattle University School of Law, where he was the graduation speaker and President of the Federalist Society.
Michael (Boston) Real Estate Developer
Michael, 25, currently lives in Boston. He completed his secondary education at The Pingree School in South Hamilton, Mass., and earned his Bachelors Degree in Communications from Boston College in 2001. At the age of 23 Michael launched Venture Development and Properties LLC, a real estate development and investment firm with residential and commercial projects throughout New England. Michael plans to build his company into a national infrastructure as well as pursue an MBA.
Bren (Memphis, Tenn.) Prosecutor
Bren, 32, married with children. He was born and raised in Memphis, Tenn., and attended The University of Memphis where he received his BA. He then obtained his J.D. from the University of Memphis' Cecil C. Humphreys School of Law. Leaving a lucrative career as a real estate closing attorney, Bren now serves as an Assistant District Attorney General. Far from the fame and fortune of Fifth Avenue, Bren works in the world of drugs and thugs.
Stephanie (San Diego) Supply Chain Consultant
Stephanie, 29, grew up in Tempe, Ariz. with a close-knit family. She attended Arizona State University and earned a Bachelor of Science degree with an emphasis in Supply Chain Management (ASU's prestigious Business Program). She is currently part of IBM's Corporate Supply Chain Organization, where she is identified as one of the top talented Global Supply Chain Consultants.
Her business savvy, loyalty, integrity and strong negotiating skills have led her to successful inventory management programs; phenomenal client satisfaction and outstanding results in multi-million dollar contract negotiations. Her expertise is in Information Technology Outsourcing and Human Resource Outsourcing.
Danny (Boston) Marketing Technology Firm Owner
Danny, 39, grew up in Cleveland where he left high school early to accept an academic scholarship to Cleveland State University. After earning his BA, Danny's creativity began to drive his academic and professional direction. He completed graduate coursework in music composition at Boston University, where he later joined the faculty, and studied at MIT's famed Media Lab.
Danny's vision for combining art with commerce led him to develop several successful media and technology ventures. He is the founder, CEO and chief visionary for POPstick, a leader in innovating new media technologies. When Danny is out of the boardroom, he can be found writing and performing rock operas and symphonies. His musical talents have earned him four national composition awards.
Verna (Seattle) Business Manager
Verna, 31, married with children. She attended Jackson State University where she excelled in academics and athletics. She began her career in sales, demonstrating exceptional potential by delivering some of the highest figures in the company. Pursuing her passion of Marketing Communications, she began working in the Information Technology field speaking to a variety of groups about the value of technology, and has presented on stage to live audiences of over 15,000 people.
Verna is responsible for managing team members in the development of executive communications, website creation, event management, and presentation delivery. Vena earned her MBA in Business Communications, and is now responsible for product management and simultaneously driving large-scale, multi-million dollar projects within the corporation.
Todd (Carlsbad, Calif.) Sales Manager
Todd, 34, married with children, was born and raised in Brandon, Fla. with his younger brother. He holds a BA in Business from the University of Miami and is currently working as a sales manager. He became the #1 insurance sales agent at his company in just six months. Todd began his career working for "No Fear" athletic apparel where he was the youngest sales manager in company history. He also is a successful restaurant entrepreneur.
MAGNA : Erin (Philadelphia) Attorney
They graduated college. Now, they're competing against high school grads to win the Apprentice. Meet the Apprentice 3's book-smart contestants. Let's start with Erin.
Erin, 26, an accomplished corporate attorney, has represented some of the largest businesses in the world. She received her J.D. from Villanova University School of Law, where she participated in the prestigious Women Against Abuse Volunteer Attorney Program. Erin attended the University of Miami and distinguished herself by earning a dual degree in Broadcasting and Political Science.
During her tenure at the University of Miami, Erin wrote for the Miami Hurricane newspaper and won the Most Outstanding Student Award in 2000. Currently, Erin is developing the first "All Women for Women" law firm focusing on issues including: domestic violence, child support, sexual harassment, pre-nuptial agreements and divorce. A native of Pittsburgh, Erin currently resides in Center City Philadelphia.
Craig (Conley, Ga.) Shoeshine Business Owner
Craig, 37, has been married eleven years and is very proud of his four daughters. He was born in Gulfport, Miss., but raised in San Francisco. He is currently an EMT and firefighter working 24-hours a day, every 3 days. During his time off, Craig became a standing partner in the "Pinnacle Entertainment Group," a music conglomerate. Craig also created and developed a modest shoeshine franchise entitled, "Peaceful Feet Shoe Shine Inc."
Chris (Las Vegas) Real Estate Investor
Chris, 22, was born in Richfield, Utah and raised primarily in Las Vegas. After graduating from Silverado High School, Chris immediately concentrated on expanding his father's real estate business. After grossing just $25,000 in his first year on the job (at age 18), Chris now commands a portfolio of properties valued over $1 million. He credits his parents for inspiring him to succeed and sees himself as a young Donald Trump.
Angie (Lake Balboa, Calif.) Gym Franchise Owner
Angie, 41, is a single mother who grew up in Miami. She opened the first Curves for Women health club in Los Angeles and currently owns two of them. Her most impressive business achievement thus far has been turning a $40,000 investment into $1.5 million market value within three years. Angie is also a professional cabaret singer and songwriter. She has made many national appearances and currently is publishing her own book of original songs.
Brian (Wildwood, N.J.) Real Estate Broker
Brian, 29, hails from Philadelphia and is a born salesman. He turned down a full paid scholarship to college and with only a high school diploma started his own business. A self-made millionaire from selling glow-in-the-dark necklaces, he now holds the federal trademark for GLOWLITES. Brian is best described as an entrepreneur and is currently running five businesses, most notably a real estate office serving New Jersey and Pennsylvania. His most recent venture is the creation of Realadex, Inc., a company that manufactures cutting edge software for real estate professionals. In Brian's spare time he enjoys performing magic.
Kristen (Los Angeles) Real Estate Financier
Kristen, 31, is the top producer for one of the most prestigious real estate brokerage firms in Los Angeles. She is currently studying for her broker's license and has opened escrow on her third investment property. Originally from Fairfax, Va., Kristen's first love was competing as a hunter jumper in national equestrian competitions. Helping her parents with their real estate businesses at age 11 inspired Kristen to realize that anything is possible if you work hard and believe in yourself.
Tana (Des Moines, Iowa) Sales Executive
Tana, 37, is a wife, mother of two, and succesful entrepreneur. She is the owner of several start-up companies including an internet commerce business. Her business savvy was first noted at the age of nine when she sold telephone accessories door-to-door and depleted her inventory in record time. Tana's highly competitive spirit has led her to be one of the top sales women in the Mary Kay Organization. Tana's strong work ethic has served her well in all aspects of life and she is a firm believer that you create your own destiny.
John (Tampa, Fla.) Technology Firm Owner
John, 32, grew up in Lake City, Fla. but has lived in some of the biggest cities in the country including Detroit, Atlanta and St. Louis. John currently owns two successful businesses in Florida--- an insurance agency, "United Insurance Solutions of Florida, Inc." and "Pattern Recognition Inc.," an Information Technology consulting firm. Before moving back to Florida, John owned and operated several restaurants across the country including a popular nightclub in Atlanta.
Audrey
Audrey, 22, grew up in West Valley, Utah with her brother and sister. Audrey never had the chance to continue her education after High School but has become a very successful Real Estate agent, one of the youngest agents ever to be certified in Utah. She is currently working on her broker's license while launching a non-profit organization for high school students to help them pursue their dream career.
Meet the contestants (Street Smart/Net Worth) -TARA
TARA
They have successful careers even though they didn't graduate college. Meet the Apprentice 3's street-smart contestants. Let's start with Tara.
Tara, 28, is the Senior Manager of Government and Community Relations for the Port Commerce Department of the Port Authority of New York and New Jersey. In this capacity she is responsible for managing the public relations for a multi-billion dollar port development project. Additionally, Tara was the first African American and the youngest person ever to serve as Director of Appointments in the Office of the New Jersey Governor. As Director of Appointments, she managed the process of gubernatorial appointments to over 500 boards and commissions. Tara grew up in Hillside and North Brunswick, N.J. as an only child.
Resume : MAGNA VS NET WORTH ( Posted by Anang P.Setiawan, Monday 11 May 2009)
MAGNA VS NET WORTH
The Resume
NBC
Creator Mark Burnett
Boss: Donald Trump
Consultant: Carolyn Kepcher
Consultant: George Ross
Receptionist: Robin Himmler
Teams are Net Worth (Street Smart) vs. Magna (Book Smart)
Job Applicants (and place finished):
Kendra Todd (Magna) - Winner
Tana Goertz (Net Worth 1-7, Magna 8-13, Networth 14) - Runner-up
Craig Williams (Net Worth 1-7, Magna 8-14) -3rd place
Alex Thomason (Magna 1-9, Net Worth 10-14) - 4th place
Bren Olswanger (Magna 1-11, Net Worth 12-13) - 5th place
Chris Shelton (Net Worth) - 6th place
Angie Harper (Net Worth) - 7th place
Stephanie Myers (Magna 1-7, Net Worth 8-10) - 8th place
Erin Elmore (Magna 1-7, Net Worth 8-9) - 9th place
John Gafford (Net Worth) - 10th place
Audrey Evans (Net Worth) - 11th place
Tara Dowdell (Net Worth) - 12th place
Michael Tarshi (Magna) - 13th place
Kristen Kirchner (Net Worth) - 14th place
Danny Kastner (Magna) - 15th place
Verna Felton (Magna) - 16th place - quit
Brian McDowell (Net Worth) - 17th place
Todd Everett (Magna) - 18th place
Object of the game:
18 players are divided into two teams.
Each episode they are assigned the same task.
Each team chooses a project manager (team leader) who leads the team.
The team that earns the most money for the task wins.
The winning team gets a reward.
The winning project manager is exempt from being fired during the next task.
The project manager (team leader) of the losing team selects two other members of the losing team to meet with Donald Trump, Carolyn Kepcher and George Ross.
Each pleads why they should continue on but Donald Trump eventually eliminates one of them
Theme song 'Money' by the Ojays
Projects:
Project 1 - Promote fast food - John Gafford's Net Worth beats Todd Everett's Magna - Todd Everett, fired
Project 2 - Hotel renovation - Michael Tarshi's Magna beats Brian McDowell's Net Worth - Brian McDowell fired - Verna Felton quits but returns
Project 3 - Market coffee - Angie Harper's Net Worth beats Danny Kastner's Magna - Verna Felton quit - Danny Kastner fired
Project 4 - Direct a soap commercial - Erin Elmore's Magna and Kristen Kirchner's Net Worth, both lose - Kristen Kirchner fired
Project 5 - Mobile business - Tana Goertz's Net Worth beats Bren Olswanger's Magna- Michael Tarshi fired
Project 6 - Graffiti - Alex Thomason's Magna beat Tara Dowdell's Net Worth - Tara Dowdell fired
Project 7 - Miniature golf - Stephanie Myers' Magna beats Audrey Evans' Net Worth - Audrey Evans fired.Project 8 - Charity - Kendra Todd'a Magna beats Chris Shelton's Net Worth - John Gafford fired
Project 9 - Do it Yourself Clinic - Craig Williams' Magna beats Angie Harper's Net Worth
Erin Elmore fired
Project 10 - Pizza - Bren Olswanger's Magna beats Stephanie Myers' Net Worth - Stephanie Myers fired
Project 11 - Tech Wear - Tana Goertz's Magna beats Alex Thomason's Net Worth - Angie Harper fired
Project 12 - Car - Kendra Todd's Magna beats Chris Shelton's Net Worth - Chris Shelton fired
Project 13 - Office product - Craig Williams' Magna beats Alex Thomason's Net Worth - Bren Olswanger fired
Project 14 - T Shirts - Kendra Todd's Magna beats Tana Goertz's Net Worth - Alex Thomason fired
Project 15 - Interview - Craig Williams Fired
Project 16 - Final challenge - Kendra Todd (Magna) vs Tana Goertz (Net Worth) - Kendra Todd HIRED
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