Marketing Orientation Essays
Marketing Orientation in BMW- The Ultimate Driving Machine
BMW started in 1916 as an Aircraft engine manufacturer in Bavaria, Germany. Bavarian Motoring Works shortly named BMW. In …show more content…
Demographic Segmentation: The market segmentation decided on the bases of demographic variables like, age, sex, income, family life cycle, education, job style and race etc.
Psychographic Segmentation: Segmentation decided by the social classes, lifestyles, personalities and group character. The demographic group’s people have various psychographic mindsets.
Behavioral Segmentation: In behavioral segmentation, classification is based on their knowledge, reflection and attitude towards the product they want. In every concern, company believes that behavioral segmentation is the backbone of market segmentation.
In market targeting, company targeting a particular need of target market and how and how many they need to produce. Study and evaluation of market segmentation and segment strategy is the next step in market targeting. This evaluation helps to produce and develop quality products and marketing mixes, (Kotler et al, 1999), (Ferrell and Hartline, 2008).
Evaluation of Market Segments: Two factors are depends on evaluation, segment attractiveness and company fitness.
Segment Attractiveness: Segment attractiveness is always proportional to profitability. Separating segments, company should collect their profiles and analyse the current value, progress inclination and profit rates.