Marketing Essay Example | Topics and Well Written Essays - 1000 words - 7

Marketing - Essay Example In accordance with the above, for the needs of the particular marketing campaign, the geographic segmentation of the Australian market should be developed as follows: a) emphasis should be given on the urban areas – where the population is significant and where more perspectives exist for new products entering the particular markets, b) as noted in the map of Australia, the urban life is mainly developed in the country’s Eastern regions – where more of the cities are sited; therefore, a priority should be given to the promotion of the particular product in the Eastern regions of Australia; the promotion of the product in the country’s other regions could follow. ... his point of view, the particular product is expected to be welcomed in the Australian market, b) the socioeconomic status of the people in the country’s urban areas – main places of destination for the particular product – could not affect the performance of the product in the Australian market, since the price of the product is rather low, being accessible to people with different levels of income; in any case, the high percentage of people in Australia are of average and high financial status, which means they could easily afford to buy the specific product. The above view is in accordance with that of Wedel and Kamakura (2000) who noted that demographic and lifestyle information can have similar roles in market segmentation (Wedel and Kamakura 2000, 242). 3.3 Psychographic Segmentation In the context of the psychographic segmentation, the Australian market would be reviewed as of the criteria used by locals in order to buy specific products. These criteria wi ll be developed under the influence of the local cultures and ethics but also the average socioeconomic status, which, in the case of Australians, can be characterized as satisfactory. Indeed, most people in Australia have a satisfactory income – the average net wealth of a household in Australia has been estimated to $348,000 – which means, they could easily afford to buy the specific product. Moreover, the involvement in a wide range of activities is a common practice for people in Australia; therefore, their social life is likely to be significant; thus, their look should be good, in the context of the common social patterns. Consumers in Australia would welcome the particular product as it could help them to improve the quality/ health of their hair. At this point, the following issue should be