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Marketing identifies clients, their requirements, as well as how much value they put on having those needs handled. The product's design is influenced by marketing to ensure that it satisfies the demands of the consumer and offers value in proportion to its cost. They make judgments on the course of the firm and its marketing activities when they design a marketing plan (Dolnicar, Grün, & Leisch,2018). Customers, products, sales, and production are just a few of the areas in which businesses can put their attention. As the corporate climate has evolved, so has the marketing strategy of firms. Splitting up a target audience into smaller, more manageable groups is at the core of the practise of market segmentation. Market segmentation creates sections of a market which are properly understood by the target audience through using demographics, demands, interests, comparable interests, and other psychographic or behavioural traits. An STP analysis of the firm Unilever is used in the following report to identify a prospective target market for the company.
Products from Unilever cater to a wide range of demographics, from infants to the elderly. Unilever items may be found in almost every home. Axe Body Spray's Six Unilever Buyer Personas:
“The Predator” — As a predator, The Predator preys on women who are under the influence of alcohol. He also lies about his occupation and where he resides (Gaspar, 2018).
“Natural Talent” — Physical prowess combined with mental acuity and self-assurance. When it comes to scoring, he doesn't have to lie.
“Marriage Material” — He's the kind of man one wants to bring home to Mom and Dad – humble and courteous.
“Always the Friend” — As long as there's a glass ceiling, he's always there for you.
“The Insecure Novice” — Nerds and geeks are familiar with the insecure novice, who has no idea what he's doing and causes havoc.
“The Enthusiastic Novice” — In spite of his complete lack of knowledge, The Enthusiastic Novice is outgoing and willing to put out an honest effort.
To get the most out of their efforts, they decided to go for "The Insecure Novice," who is prone to feeling self-conscious about his lack of success in wooing women and is thus an ideal target.
Unilever acknowledges that it cannot meet the demands of all customers. Consumers are numerous in the market arena, and their requirements and purchasing behaviours differ significantly. Additionally, businesses are fully aware that their capacity to service distinct parts of the market varies significantly (Kpoku, 2021). Unilever is not alone in this way. It understands that it is significantly more advantageous for it to focus on certain sectors where it excels than trying to meet the wants of the whole marketplace. Market segmentation is the practise of dividing a market into smaller groups with separate demands, behaviours, and features. Unilever's target market is the urban and suburban upper middle class and middle-class segments of the population that fall within the SEC's A to C classifications. As a result, Unilever cannot compete on price. However, the price is reasonable for the majority of individuals.
Unilever utilises market segmentation as a weapon against its rivals. Unilever offers its goods in more than 190 countries throughout the globe. In these nations, the buying power and tastes of the people are vastly different. Market segmentation allows Unilever to address all of these needs. Emerging market buyers, for example, are more sensitive about product costs (Carvalho, 2020). Because of this, Unilever has implemented a plan to make its goods more inexpensive in these nations, giving it an advantage in the market.
Other methods of market segmentation are used by Unilever. Male toothpaste was launched to appeal to men but brands like Dove with their floral aroma appealed to women (Wachira & Kariuki, 2018). To further benefit local communities, Unilever adds a personal touch to its goods that appeals to the particular interests of the local population. As a result of considering the requirements and p
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