Business Adress
9 important questions on Business Adress
What means market segmentation?
Market segmentation means dividing a market into distinct groups of buyers with different needs, characteristics or behaviours, who might require separate products or marketing mixes. The company identifies different ways to segment the market and develops profiles of the resulting market segments.
In which segmentations can you divide a consumer?
-Demographic
-Psychograpic
Which levels of market segmention are there?
-Segment marketing: adapting a company’s offerings so they more closely match the needs of one or more segments.
-Niche marketing: adapting a company’s offerings to more closely match the needs of one or more subsegments where there is often little competition
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What are the pro's and cons of umbrellabrands?
- Helps introducing new products (easier and cheaper)
–Savings in advertising and promotional budgets (business synergies)
–Avoid legal problems when advertising them
–Identity, trust, respect, loyalty, perception, positioning
Cons:
–Product failure impacts the image of the rest
–Low market segmentation since the target has similar characteristics
What are the pros and cons of individual branding?
–Unique identity and image
–Facilitates positioning and market segmentation
–Product failure doesn’t impact the rest
Cons :
–Cost of creating and launching a new brand
–Bigger business and commercial efforts
–Cannibalims between brands of the same company
What are the pros and cons of line family branding?
Pros:
–Product failure only affects its family
–Better market penetration in different segments
–Cheaper than Multibranding strategy
Cons:
–Product failure impacts the image of the family
–Higher costs than Family Branding
What is a secondary brand?
-Belong to companies with more important brands
-Segment and broaden the market: reach different segements
–Defend the main brand from the competition
–Test products and services before entering the existing markets
Example: Marc, by Marc Jacobs
What is a vertical brand?
-Strong identification between the product and the store concept/environment
–Exclusevily sell their own products only found at their establishments.
Example: Starbucks
What are the pros and cons of private branding?
–Lowers prices (no promotional expenses)
–Change supplier/manufacturer without a major impact on customers
= more loyalty (bargaining power)
–Increase on variety ofproducts
Cons:
–Product isn’t always developed and controlled under regular and established
criteria
–Excess of power in the distribution hands
The question on the page originate from the summary of the following study material:
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