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Beyonce target market report - Essay Example

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When looking at this particular theory, there are several concepts that apply to the market that is created. Market segmentation is defined as a…
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Beyonce target market report
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Beyonce target market report

Download file to see previous pages... Doing this led to a different way to turn imperfect competition into one that was based around moving outside of the competition. The more that different individuals could become a target the more likely they would be able to respond to the products and services in a positive manner (Wedel, 2000).
The concept of market segmentation is used for several reasons within the market. The foundation of this is to create a strategy within a corporation and outside of a business for the right responses. When a business has an undifferentiated market, which doesn’t focus on the characteristics of demographics and individuals, then it may not be able to reach them as well. When a market is segmented, it is able to create a different approach which targets individuals that are in need of a product or service. More importantly, the segment is able to move outside of other competitors who have similar products or services. As this is done, there is the ability to create a different approach to the business and to the needs of specific individuals (Dickson, Ginter, 1987).
The concept of multidimensional segmentation can be combined with the main aims that are used within different companies. When looking at different levels of purchase behavior and the way that potential customers respond to a specific concept, there is the ability to create different products or services that relate to the individuals needs. Doing this is able to create a specific understanding of what is occurring in the market as well as what the behaviors are of those that are a part of the market (Blattberg, Sen, 1974).
The target market that will be used is in relation to the singer, Beyonce. Beyonce is a renowned R&B artist from the US and has won several Grammys through her music, acting and modeling. Beyonce began her career through the R&B band, Destiny’s Child, which gained prestige throughout America. She then broke into a solo artist that was able to create a ...Download file to see next pagesRead More
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