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Purpose of SWOT Analysis, Value-driven Marketing and Market Segmentation - Assignment Example

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The author of the "Purpose of SWOT Analysis, Value-driven Marketing, and Market Segmentation" paper states that in order to meet customer needs, marketers use the marketing mix, to sell products at an affordable price in the right place with suitable promotion.  …
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Purpose of SWOT Analysis, Value-driven Marketing and Market Segmentation
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Download file to see previous pages It can be used to analyze specific issues like staffing, advertising, etc in order to improve those specific areas. Strength for one issue might be a weakness for another, so it is better to consider the issues combined with other areas of the business.

Marketing, a powerful tool, plays a vital role in today’s world and it acts as a bridge from the producer to the consumer. It has to perform the following activities for providing consumers an opportunity to purchase the products and services they need:

The satisfaction of a person by using either a product or a service is known as utility and marketing has four types of utilities named form (the producer has to produce in the form required by the consumer), place (transport and deliver wherever the product is required), Possession (Provides legal ownership) and time (Perishable items to be delivered in time).

Example 1: The Ode-nil product had been introduced with ordinary packing as well as a lower price, but sales volume is not up to the expected level, so they made a market survey, after which the product was released in a deluxe packing with a higher price. They also increased the margin for the retailers to push their products, leading to a rise in sales volume.

Example 2: The Chik shampoo company was in a position to boost up their sales and they do not want to increase their promotional expenses in terms of paying a higher margin to the retailers. So they announced a scheme, “One Chik shampoo packet at free of cost for four empty shampoo packets of any brand.” It boosted up their sales, later they modified the scheme by accepting empty packets of their own instead of other brands.

Market Segmentation is the process of dividing the market into several groups or segments based on demographic facts, geographic locations, psychographic reasons, and behavioral aspects. Demographic facts can be classified based on age, family size, family life-cycle, gender, income, occupation, education, religion, race, generation, social class, and nationality.

It was developed by Bruce Henderson in the early 1970s.  ...Download file to see next pages Read More
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