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Maslow's Theory Of Market Segmentation

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Question1 a) Market segmentation is the way toward separating market into-particular subsets of purchaser with basic needs. The system of division permits makers to empower confronting rivalry in the commercial center by separating their advertising. Consumer –rooted segmentation bases are (demographics, geodemegraphic, personality traits, life style, and social cultural) In this case they want to think about ways in those multiple reference points (lifestyle, cultures and geodemographics) can be integrated into new-segmentation approaches to create successful segments) They need to add geographic segmentation. In geographic segmentation the market is divided by location. The theory is that individuals who live in a similar zone share some …show more content…

Maslow's hypothesis distinguishes five rudiments of levels of human needs, which rank in significance from lower-level (biogenic) needs to more elevated amount needs. The hypothesis specifies that the people try to fulfill bring down need before higher needs develop. At the point when a lower require fulfill, another higher need rises et cetera. In mobile technology service ,we could define the inner need in traveling that the need of safety like to call and make sure the kids or the family members are ok and there is no something wrong with them .and that’s considered as a primary need. But if we are talking about acquired needs in traveling with the mobile service ,here we can talk about some utilities like mobile wifi ,searching and to communicate with others and blogging that considered as more ego or self esteem and entertaining and it considered as secondary needs .example (information’s and where to go …show more content…

It has turned out to be a standout amongst the most imperative instruments for individual correspondence over the globe amid the previous fifteen years. Buyer conduct is the investigation of when, why, how and where individuals do or don't purchase items (Sandhusen; Richard, 2000).1 Consumer behavior to cell phones Nowadays cell phone clients is more versatile, authoritative, and subjective to how they utilize the specialized gadget (Murni Mahmud et al, 2010). Cell phone is a medium for correspondence as well as a diversion gadget, an educative device. Purchasers utilized the innovation as composed by the architects to fulfill distinctive purposes past the origination of the originator (Carroll et al., 2002; Bar et al., 2007). 1 Business Communication Wireless correspondence has dramatically affected how organizations direct business, making it less demanding to stay in contact with clients around the globe Upsets and Social Change Wireless correspondence has made it less demanding for individuals to cooperate to bolster a typical cause, upgrading the potential for realizing social

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The segmentation process allows Company X to understand the changing needs of each demographic. Emerging opportunities can be easily identified in potential markets. To address retail customers within different industries accordingly Company X must develop an effective demographic segmentation strategy. The customer segments of Company X will be a diversified group. The groups are broken down into two main categories which are individuals and businesses.

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Due to the personalisation, BMW can charge a higher price for their cars which means customers with a high level of income can purchase these cars. Geographic segmentation is when a business divides its market based on their geographical location. Examples include towns and countries. Multinational clothing companies such as ‘Next’ would use geographical segmentation to market their products to its customers.

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The Road: A Breakdown of Maslow’s Hierarchy of Needs In Cormac McCarthy’s post-apocalyptic novel, “The Road”, a man and his young son find themselves on a journey fighting for survival through a dark and desolate world. With no identity or any hope in the future, the characters are faced with many compromising decisions. Two levels of Maslow’s Hierarchy of Needs, the physiological and safety levels provide the most motivation and validation for the characters’ actions throughout the novel. There are 5 major levels to Maslow’s Hierarchy of needs; physiological, safety, emotional, esteem, and self-actualization (Maslow 1).

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The first one is Maslow’s need theory which is a motivational theory that illustrates the five types of human being needs in hierarchical pyramid structure. The first type of Maslow’s hierarchy is psychological need such as air, food, shelter, water. The second type is safety needs such as security from outside threats and freedom from fear. The third type is belongings need such as friendship, trust and acceptance, receiving and giving affection and love. The forth type is esteem needs such as self-respect and to be respected from others.

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STP SEGMENTATION Construction and building block toys for children Demographic Segmentation • The company’s collection of toys and games are targeted at both genders and different age groups. • There is a product to engage children at every stage of their development, and products to cater to the needs and interests of older people. • LEGO DUPLO was launched as the big brick for the small hand and is targeted at pre-school children. • The series is graded in difficulty for children aged 2-6 years old.

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Purpose and process of market segmentation The purpose of segmentation is to allow the marketer to be better able to reach the consumer needs and wants which increases the positive responses for the brand. Segmentation is important during the promotion process, this is where the team decided who what and where as well as, age gender and things like buying patterns. Because of this, marketing g segmentation comes before targeting. By dividing the audience, it makes it easier to target exactly who and where to send the devices or what to do with their next model.

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Maslow’s Hierarchy of Needs Countless psychologists have theorized about human behavior, but few theories have had the impact that Abraham Maslow’s Hierarchy of Needs has had. Maslow was looking to explain the motivation behind people’s actions. He developed his theory to represent the needs people need to meet to be comfortable in their living situations. Based on Maslow’s theory, phycologists can determine why people partake in the actions they do. For example, people who do not feel belonging and love as children are more likely to join gangs or other organizations to gain a sense of belonging.

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Market are segmented in order to make it easier for businesses to target these segments according to the features and habits they exhibit. These segments must be definable, specific, profitable, and is has room to grow. The following outlines the segmentation for the market of Mercedes Benz broken down into demographic, behavioral and psychographic segmentation. Demographic Segmentation: Markets can be segmented by geography where the business would market its offering towards individuals living in a certain area.

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This theory is proposed by Araham Harold Maslow by year 1954. There are 5 different needs in this theory which consists of: Physiological; Safety; Belongingness; Need for esteem and Self-actualization. Maslow believed that a man being motivated by the needs he wants to satisfy. So, the fundamental needs must be satisfy in order to begin motivating behavior (Adiele and Abraham, 2013). 1) Physiological Physiological needs is fundamental and most basic need for human survival.

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The initial Starbucks established in 1971, it set out to be a different kind of company. One that not only just passionately committed to world-class coffee and the rich tradition, but also the way they engage with customers and communities to do business responsibly. Today, Starbucks has become a great example of an iconic brand and operates worldwide. The brand has strengthened their consumer engagement with the use of digital marketing strategies. In this essay, the author… Technology has developed throughout the last decade at a great rate to make human’s lives more convenient.

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According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.

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However, choosing the appropriate technology is essential to the success of the advertising industry because different markets prefer different ways of conveying information. The use of applications in phones or e-commerce to order goods and services all over the world may be appropriate to a certain market, but media may be appropriate to an illiterate market (Porter, 1998). The development of smart phones is also an added advantage to the development of marketing activities in the advertising industries. For instance, in Singapore China the Taxi industry uses the application in the smart phones to access the consumers. Although the media are one of the appropriate medium to convey the adverts to the consumers,

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It is the process of splitting the customers, or potential customers, in a market into different groups, or segments, within which customers share a similar level of interest in the same,

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The process of market segmentation involves the division of a market into groups of smaller size whose needs, behaviour and characteristics are distinct from each other. These smaller groups or 'segments ' may require separate marketing strategies. There are four major market segmentation variables namely behavioural, psychographic, geographic and

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• Geographic Segmentation Geographic segmentation is differentiation of markets by region of the country, city, country size, market density and climate. The company can use this segmentation to create a more accurate profile. Dutch Lady had made the geographic segmentation in the Urban and Suburban in Malaysia. People live in the city have more income than the people live in the countryside.

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