Market Segmentation, Targeting And Positioning Decisions Essay

The airline industry has been a major factor in the globalization of the world economy. It connects the sellers and the buyers as well as transports goods across countries. It also breaks the time and distance barriers. In the past, air travel was considered a luxury but it is now a common necessity.

The three most important key components to provide good customer service are professionalism, communication and responsibility. A person with these three values can make him look more distant and better than other people who are engaged in the same field as he is.

Good customer service is very important in a business because it is this that determines

“Aviation is a major contributor to Australia’s tourism industry. As an island continent with no land borders, Australia relies almost exclusively on air services to bring international visitors to the country, with over 99 per cent of inbound tourists arriving in Australia by air.” (Australia, 2014)

What is Market Segmentation? According to Investopedia (n.d), market segmentation is a term used in marketing that refers to the aggregating of a potential buyer into groups, or segments, that share common needs and would respond similarly to a particular action in marketing. By utilizing market segmentation it enables Victoria’s Secret to target different categories of consumers who recognize the full value of certain products and services differently from one another. Furthermore, market segmentation is an extension of market research for the purposes of identifying targeted groups of consumers in order to tailor products and branding in a way that it is attractive to that group. There are three general criteria used to identify different market segments: homogeneity, distinction and reaction (Investopedia, n.d).

The level of activity within the sector has grown rapidly in the past decade and is expected to continue growing, although at a more subdued level. The pace and scale of growth has caused concerns to be raised about the ability of New Zealand to capitalise on this influx currently and in the long term, as there are issues around capacity in some essential services for the sector.

Air New Zealand Ltd. shares a rich and proud history, dating back to 1940 when the airline was renamed from pre-successor TEAL (Annual Reports, 2012-2014). In the early 2000s, Air New Zealand claimed international profile through its relationship with Lord of the Rings Trilogy; and have renewed the partnership with the franchise since (i.e. hobbit movies). Over the last three years; the continuous build of momentum regarding the company’s earnings is a reflection of its successful development and implementation strategies. Ultimately, providing a sustainable and profitable business will allow the company to retain stakeholders and

Customer loyalty is much harder to obtain that customer service satisfaction. The most important first step is to satisfy the customer by meeting their expectations. Customers only give a company one chance and if they aren’t satisfied they will not do business with that company again, as well as tell others of their experience. The next step would be to exceed the customer’s expectations. If a business goes above and beyond to assist the customer they begin to build loyalty. The next step is to truly surprise the customer. In order to dominate the marketplace the company must find a way to make them selves stand out with their product or service, accompanied with phenomenal customer service. Once this has been done customer satisfaction and loyalty will be gained. “Acquiring a new customer can cost four or five times more than keeping a current customer” (Bestmark, 2013). So it’s essential to keep the current customer’s happy and coming back for more.

Market segmentation is usually regarded as one of the main elements of marketing, with benefit segmentation commonly referred to as the most meaningful form of segmentation. Even though the importance of segmentation is broadly accepted, limited research, do exist about cosmetic medical products (Mohr, Sengupta, & Slater 2010, 79). There are very few real examples of segmentation studies available. This article has focused on Johnson and Johnson products marketing strategy globally. The spread of global culture is normally facilitated by the rise of global capitalism, the proliferation of transitional corporations, homogenization of global consumption, and widespread aspiration for material possessions. International market researchers have discussed the breadth of convergence of cultural values across countries.

I have always believed customers are the focal point of any business. I found that having satisfied customers does not mean you are doing a good job. It may mean the customers are satisfied because their expectations are so low and there is no one else doing any better. Having

Market Segmentation – How & Why As well as the physical aspect of our store changing we have to look at the market differently. Where it was once possible to take a pile it high sell it cheap approach, to achieve broad appeal to the population we need to cater to the needs of the population. This is achieved by breaking the population into groups and then releasing products and services that meet the needs of these groups. This is known as target marketing. Although we all appreciate the theoretical economies of scale given by mass marketing a single product, there are few products that appeal to everyone.

Market segmentation is the division of a market into different groups of customers with distinctly similar needs and products or service requirements (Croft, 1994). Its major purpose is to pull scarce resources and ensure that the elements of the marketing mix, price, distribution trends, products and promotion are premeditated to satisfy the particular needs of the different customer groups. City Grill’s main approaches to market segmentation, could include using the breakdown method where they can view the market as to consist of consumers who are in essence the same, having similar tastes, and so forth. Their duty could only be to identify groups which share particular differences. Alternatively they

When attempting to segment the market for aftermarket truck accessories in the trucking industry we used a combination of lifestyle based segmentation and psychographic based segmentation techniques that we learned in class. Our segments were based on the results of our needs assessment paper which linked the attributes we identified to the benefits and the values. We came up with a rough estimation of the size of each segment by using the information we collected in our sample to infer what the actual size of the population maybe. We are aware that are sample is most likely biased and not a fair distribution of the segments.

Other than that, as the low cost airline in country have create many opportunity for their customers to use this airline to meet with their family or friends. For example, as a student that studied far away from their family, this type of company will be needed to enable them visit their family. It is standard that as a student, they did not have enough budgets to pay an expensive fee to book a

These businesses want to know whether New Zealand’s economy is continuing to benefit from these exports. I predict that this is true due to the high OEC ranking of New Zealand, which indicated economic complexity. The question that must then be posed is: What is the long term trend in exports from Auckland Airport? This question is of interest to businesses and consumers alike because international trade affects the price of domestic goods due to changes in supply and demand.