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marketing paper

1. The World Wide Web is a very effective marketing tool for many reasons. It provides companies with an affordable and powerful way to reach people at ant time of day. The World Wide Web has basically four techniques that enable companies to market their products. There are interactive brochures, which range from simple one-page electronic flyers to multimedia presentations. Virtual storefronts take the interactive brochures one step further and allows customers to view and order merchandise. Information clearinghouses provide in depth product information where consumers can ask questions and get online answers. The customer service tool allows consumers to order catalogs and refer to lists of frequently asked customer questions with answers. Technological advances will affect the way we select and purchase goods in the future in many ways. It should in the future prove to be a powerful tool in promoting, connection, building associations, delivering information, and creating online communities. Technology will increase the speed at which consumers can purchase items and make it more convenient because people will be able to shop at any time of day and even negotiate the price.


6. The four bases for segmenting consumer markets are geographic segmentation, demographic segmentation, psychographic segmentation, and product-related segmentation. Geographic segmentation is dividing an overall market into homogenous groups on the basis of population locations. A look at the worldwide population distribution illustrates why so many firms are pursuing customers outside the United States. While population numbers indicate the overall size of a market, other geographic indicators, such as job growth, can also give useful guidance to marketers. Demographic segmentation divides consumer groups according to characteristics such as sex, age, income, occupation, education, household size, and stage in the family life cycle. When segmenting by age many sociologists talk about the cohort effect, which is the tendency for members of a generation to be influenced by the same events. There are the Generation X’ers, which include 21% of the U.S. population. The Baby Boomers consist of 42% of all U.S. adults. Seniors also take up 26% of the American population. When segmenting by ethnic groups people must be aware that Americas ethnic make-up is changing because of comparatively high immigration and birthrates among some minority groups. The census bureau projects that by the year 2050; nearly half of the population will belong to non-white minority groups. The three largest and fastest growing racial/ethnic groups are African-American, Hispanics, and Asian Americans. The family life cycle is the process of family formation and the dissolution, which affects market segmentation because life stage, not age, is the primary determinant of many consumer purchases. As people move from one life stage to another, they become potential consumers for different types of goods and services. Psychographic segmentation is dividing a population into homogenous groups on the basis of psychological and lifestyle profiles. A lifestyle refers to people’s decisions about how to live their daily lives, including family, job, social, and consumer activities. The most common method for developing psychographic profiles of a population is to conduct a large-scale survey that asks consumers to agree or disagree with a collection of several hundred AIO statements. Product-related segmentation can take several forms. Segmenting by the benefits that people seek when they buy a product. Segmenting according to consumer brand loyalty to a product. Under segmenting by usage rates, there is the 80/20 principal which is an idea that a big percentage of a products revenue roughly 80%-comes from a relatively small percentage of total customers-around 20%.

8. Relationship marketing is the development and maintenance of long-term, cost effective relationships with individual customers, suppliers, empl

Some common words found in the essay are:
Asian Americans, Trade Commission, Wide Web, AV Feigenbaum, Baby Boomers, Midterm March, Generation X’ers, convenience products, consumer behavior, specialty products, buying behavior, organizational buying, shopping products, World Wide, family life cycle, organizational buying behavior, psychographic segmentation, swot analysis, geographic segmentation, demographic segmentation, world wide web, characteristics quantity service, products convenience products,
Approximate Word count = 1904
Approximate Pages = 8 (250 words per page double spaced)


  

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