Consumer behavior & Market Segmentation Essay Example | Topics and Well Written Essays - 500 words

Consumer behavior & Market Segmentation - Essay Example This model suggests that consumers have some unsatisfied needs and wants whose recognition is the first step in the process. This need can be stimulated by internal or external stimuli. Upon need identification consumers search for information and evaluate the alternatives arising out of that search. Finally the purchase is made in favor of the best-liked brand. Consumers also display post purchase behavior; it is a phase that decides how satisfied the consumer is with the decision and will shape consumer’s re-purchase or recommendation decisions. This whole process is influenced by many factors (Kotler’s Marketing Essentials and cited in Lee [31]) which include social influences, marketing influences, situational influences and psychological influences. According to Stanton (66) â€Å"Marketing segmentation consists of taking the total heterogeneous market for a product and dividing it into several sub-markets or segments each of which tends to be homogenous in all significant aspects.† Consumer buying behavior and market segmentation are related in that segments in a market are formed on four common bases which include geographic, demographic, psychographic and behavioral. Hence behavior is one of the four major bases for segmentation. Segmentation on the bases of geographic (region), demographic (age, gender, religion, education) and/or psychographic (lifestyle or social class) is obvious however considering behavior while segmenting a market for a product is tough since it involves segmenting on the basis of usage, loyalty and other similar attributes which vary from person to person. Segmentation on behavioral basis not only focuses on the consumers traits but is also concerned with what consumers do and then forming a s egment of consumers showing similar behavior/feelings towards a brand. Hence identifying a segment which displays similar behavior/feelings towards a product is

Impact of the 2022 World Cup hosting in Qatar Essay

Impact of the 2022 World Cup hosting in Qatar - Essay Example With regard to companies, 32% totally agreed that local companies will have long-term strategies to grow in 2022 while 58% moderately agreed with this. However, 2% totally believed that Local companies will not have long-term strategies to grow in 2022 while 8% also believed that the long-term strategies will be missing. Many Qataris expect working conditions to improve with 94% being very optimistic of better working conditions as compared to 6% who were pessimistic about improvement in working conditions. Organizational structures are also anticipated to change with 84% of participants believing that the strategies of making the organization structure will be affected by the 2022 World cup. On average, 42% of people expect improvement in the managerial environment in Qatar while 50% anticipate improvement in the managerial environment. Only 8% of participants expect no change in the managerial environment. They virtually consider the world cup to be of no benefit to the managerial environment in Qatar. Most Qataris are anticipative that Qatar’s economy will benefit from hosting the world cup with 54% totally agreeing that the event will lead to economic growth, 38% moderately expecting the growth, and 8% believe that the economy will not grow. A whopping 88% of Qataris expect more jobs to be created in the years to the event while only a 12% believe that the level of employment in the country will remain unaffected. Outrageously, 58% of Qataris fully expect inflation to creep into Qatar, 20% moderately expect the inflation, 16% are somewhat not envisioning the risk of inflation and another 6% are self-assured that the world cup will not fuel inflation in Qatar. Still, 52% fully believe that Qatar will have the highest quality of infrastructure in 2022, 26% expect the infrastructure to be top-notch, 18% not expecting any infrastructural improvement and 4% are certain that infrastructure in Qatar is not improving. Since MNCs will flock into Qatar to do