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Provide a 6 pages analysis while answering the following question: Value-Driven Marketing. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required.
Provide a 6 pages analysis while answering the following question: Value-Driven Marketing. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. Connectively, marketing involves activities such as. buying, selling, and advertisement. For instance, the application of the marketing concept may help software engineers to become more competitive. This is because the application of marketing strategies may help to create customer awareness among the customers on the kind of products offered by the Company. This may further lead to an increase in sales and profitability (Harrison, para 1-3).
Market segmentation involves a marketing strategy for dividing customers into groups that can be served more effectively and efficiently (Strydom, pp 161). Normally, customers with similar tastes and preferences are grouped together and segments are totally different from each other (Strydom, pp 161). Jane Thomas’s Wyoming Analytical Laboratories, Inc may segment the market based on income, age gender, occupation, and marital status (Lamb, Charles, Joseph and Carl D, pp 403). Whereby, the market may be segmented on the bases of income, for example. low-income earners and higher-income earners may be served under different market segments (Strydom, pp 161-164).
Additionally, Thomas’s Wyoming Analytical Laboratories may segment their market based on marital status whereby, the company may offer products and services for married and unmarried customers (Pride, William, and Ferell, pp159-162). Connectively, the company may segment the market and products based on age. Whereby, young and elderly people may be served under different market segments (Pride, William, and Ferell, pp159-162). In the above connection, Thomas’s Wyoming Analytical Laboratories may segment the market based on gender for instance they may offer products for Male and females under different market segments (Pride, William, and Ferell, pp159-162). Below is a figure showing strategies that Thomas’s Wyoming Analytical Laboratories, Inc may utilize to segment their market. . .
