Marketing Mix for Various Segments - Desklib

This presentation discusses the marketing mix for demographic and psychographic segments. It explains how Next Plc can offer a wide range of products through e-commerce websites and retail stores. It also suggests that the organization can charge high prices for offering branded and high-quality products. The presentation further explains the difference between marketing to business and customers, and international and domestic marketing.

Task 2
Marketing Principles

3.1 Marketing mix for various segment
▪ The organization can design different marketing mix to reach the target customers in
an effective manner.
▪ Marketing mix for demographic segment
▪ Product: Next Plc is offering wide range of branded as well as non branded
clothing products to its consumers.
▪ Price: To reach the high income customers ,branded products are offered with high
prices.
▪ Price: To reach the high income customers branded products are offered with high
prices. However, to target middle class consumers, non branded products with
affordable prices can be offered to consumers.
▪ Place: The organization can offer its wide range of products through e-commerce
websites and also through its retail stores.
▪ Promotion: To promote its products, company can use different promotional
techniques like, online and social media advertisement. In addition to this, hoarding,
point of sale can be used.

Contd..
▪ Marketing mix for psychographic segment
▪ Product: The tailor made fashion apparels are provided by the company.
Therefore, product will be developed as per the requirement of customers.
▪ Price: The organization can charge high prices for offering branded and high quality
products. Further, apparels are designed as per the wants of consumers therefore,
extra prices can be charged for this.
▪ Place: Next Plc can offer its tailor made products through its brand stores. This will
also help in brand building and attracting brand conscious consumers.
▪ Promotion: To promote tailor made products, promotion can be done by organizing
fashion shows, doing celebrity endorsements etc..

4.2 Difference between marketing to business rather than customers
B2B B2C
In this, organization trades with business
customers.
In this, organization deals with household
customers etc.
The organization can use below line
advertisement or direct promotion.
All the kinds of promotional techniques can
be used by the company
More consideration is paid on the
performance of product in market
More emphasis is done on attributes, quality
of product.
Focus is on quality and quantity Focus is more on quality and price

4.3 Difference between international and domestic marketing
International marketing Domestic marketing
It refers to marketing activities done in
foreign countries.
It regards to marketing activities
performed within the domestic country,
UK.
Various medium of money exchange are
applicable as per the host country.
The dealings are done in home currency,
Pound.
The business risk is high Risk is low as compared to international
marketing
It requires high expenditure and
investment
It require less investment

References
▪ Lamb, C., Hair, J. and McDaniel, C., 2011. Essentials of marketing. Cengage
Learning.
▪ Mattson, M. and Basu, A., 2010. The message development tool: a case for effective
operationalization of messaging in social marketing practice. Health marketing
quarterly. 27(3). pp.275-290.
▪ Sherlekar, S. A., Prasad, K. N. and Victor, S. S., 2010. Principles of marketing.
Himalaya Publishing House.
▪ Talke, K. and Hultink, E. J., 2010. The impact of the corporate mind‐set on new
product launch strategy and market performance. Journal of Product Innovation
Management. 27(2). pp.220-237.

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