Principles Of Marketing Essay

888 words - 4 pages

American Intercontinental University
Unit 2 Individual Project
MKTG 205 – Principles of Marketing
By James Clemons

The word (Segmentation) is one with a broad definition that is both in-depth and somewhat simple all at once. The word Segmentation in brief means to separate, divide, and move apart or to section off, but when we apply the word to market it becomes a whole new creature. Market Segmentation according to Fennell, G., & Saegert, J. (2000) is the practice in which those in marketing seek to identify those groups, and segments of consumers that have some shared characteristics, and/or similar that include likes and needs so that they become the ...view middle of the document...

Take the commercial for York Peppermint Patty where they say to just take a bite and unimaginable things will happen to, and for you, or the one for the Klondike Bar they ask what would you do for it and show people doing outrageous things.
At 3) Purchase Behaviors Segmentation- here we deal with the why’s, when’s where’s and the how’s of consumer buying. Good marketing firms invest lots in research hoping to gaining an insight, and understanding into why consumers will purchase one product, and or services over another. Such research allows them to then identify those who have purchased certain types of products or spent at certain levels and to then target them with similar offers if done correctly this can be one powerfully helpful tool.

Nestle confectionery USA, and Mars, Inc. is two of the biggest competitors of my company of choice The Hershey Company in the world of chocolate making, with Mars, Inc. being #1, Nestle confectionery USA at #2, and The Hershey Company coming in at #5. If we look at and compare these three we can see what it is that Hershey might do to improve? First (Mars Inc.) this company is a world-wide manufacturer of chocolates as well as other confectionery, pet food and other food products. Their most popular chocolate products include Snickers, Mars Bar, Milky Way, M&Ms, and Twix among many others. They had revenue of some $10, 418.3 million, while (Nestle confectionery USA.) is a multinational company that manufactures packaged food since the early 1900s. Their products include chocolate, milk, confectionery, bottled water, coffee, ice cream, food seasoning and pet foods. Their most popular chocolate products include Baby Ruth, Butterfinger, Kit Kat, Milky Bar,...

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