Merketing Segmentation of The Food Industry Essay

Merketing Segmentation of The Food Industry - Essay Example Markets have always been segmented and products have been differentiated on the basis of the ways in which suppliers have applied different techniques of competing in the market. The crucial evidence for the above aspect collected in recent times is that researchers have been using behavioural and economic theories along with sophisticated analytical techniques for identifying the various market segments and opportunities for product differentiation. The concepts of market segmentation and product differentiation have been discussed in literature for long. Shaw (1912) has described the strategy of market segmentation and product differentiation as that of trying to cater to human needs and wants more accurately than competition. The result of market segmenting and product differentiating is the creation of a potential which attains a price level which is higher than prevailing stock commodity. Researchers have identified the recent changes in the market environment of firms which hav e presented with new opportunities and chances of further segmentation of the market. However, the aspect of the possibilities of identifying the groups of customers as individual segments in the market in reality is an empirical one. Researchers are of the opinion that if it is possible to segment the market into individual and homogeneous segments, market segmentation could be effective only if the manageability and efficiencies of the marketing activities could be substantially influenced by the distinguishing and different groups of customers (Wedel & Kamakura, 2000, p.4). Globalization and technological advancement across the world along with fresh new developments have provided marketers with in-depth information regarding the actual behaviour of customers and having direct access to such information through database marketing or demographic segmentation (Wedel & Kamakura, 2000, p.4). As a consequent of this, the marketers have been found to be focussing more on the small segm ents using concepts like direct marketing and micro marketing approaches. However on account of globalization, the leading multi product manufacturers have been looking at the global markets beyond the geographical boundaries (Yankelovich, 1964). It is seen that if the various market segments respond to the marketing efforts they are considered to be responsive to the segmentation strategies. Responsiveness accounts for the success factor for any market segmentation strategy. Mere response from the segments to the advertising

Business plan proposed by Andrey, Tolebi, Hieu and Tair ATHT Pub Term Paper

Business plan proposed by Andrey, Tolebi, Hieu and Tair ATHT Pub - Term Paper Example It would be easier for customers who come to the pub to use the added facility within the pub. The potential customers will be loyal customers of the pub and other interested parties who would not be customers of the pub. There is a likelihood that this service will be paid for by the pub users. This is because of its location within a public place. The service will be new but will be set up in a well-known pub, and it will enjoy the benefits of a good name of the pub. Customers who come to the pub will get to know about it and are likely to make use of it. Customers would also feel free to use it because it is within a place that they understand and trust to provide quality products and services. The place would also be located near the university and most of its customers would be the university students. ATHT enterprise has determined that most university students and other people who visit the pub would require a public place. The best location would be just within the known pub. The whole set up would require about would require an amount of money close to $60,000. This would be the initial capital that would be used to set up the furniture within the pub area where events will be taking place. Ongoing financing that would be required would serve to add facilities in place. This would be from the savings made e from the sales of the Public house (Pratt 2011, 181). This is an idea that would be profitable within a short time because the use of the services it would provide and its location. ATHT enterprise limited proposes to set up this public house to provide the customers with new services. INDIVIDUAL WRITTEN WORK Executive summary In the modern time's customer, oriented services are required to benefit the customers in a satisfactory manner. Service providers need to research what the customers would want to satisfy their needs. Such research would ensure the provision of quality services that would be appreciated by their customers. This would achieve customer satisfaction that would contribute to the customers being loyal to the product.