MARKETING PRINCIPLES

Marketing Principles

Marketing Principles

Task 4

P 4.1

The two different consumer market segments that are chosen for the planning of the marketing mix are: demographic segmentation (the youth) and geographic segmentation (expansion into Africa). For explanation purpose, the Brand Acer is chosen for quoting of examples. Demographic Segmentation

Demographic segmentation is the categorization of market based on different demographic factors; these include gender, age, family size, income, occupation, education, race, nationality, and other similar variables. In the total population, the major segment is off youth and most of them are students.

Application of Four P's

Product designed for youth has to be durable, according to their needs, and the majority of the youth requires some aid in their academics, the product should focus on that. Acer needs to design good range of laptop and notebook computers that are powerful, light weight and equipped with various software that would help youth in their studies. These products must be designed with respect to the needs of the youth (Acer.com, 2013, p. n.d).

Price is a very important component of the marketing mix as it is the monetary amount that the customers pay in return for the product they buy. Pricing of products for the youth segment has to be carefully made as very few of them are employed and those who are, majority of them do not earn that much. Therefore, the prices targeted towards youth have to be cheap and not on the higher end. Acer has to price its laptops and notebooks with respect to the youth. The prices should be reasonable and not that expensive. Buying a laptop or notebook is one time investment for most of the youth population, as the amount is considerable. Therefore, the prices of Acer laptops must be affordable and also lower than its competitors.

Place is the component where the product is made available for purchase, and it also includes the channels of distribution. The placement of products must be in key locations where youth usually visit or hang out. Such places include malls, near coffee houses, and even online shopping facility. Acer needs to make its products available in different malls, open its service centres near schools and universities, and also include online shopping and delivery facilities from where the youth can buy their products.

Promotion is the advertising and marketing efforts of the company so that consumers are aware of the existence and availability of the products. The promotional activities focusing on youth should be young, colourful, energetic, pointing out the benefits of the products, and also the value for their money. Acer has to design its marketing and advertising campaigns according to the youth. It can promote its products on social media websites, such as Facebook; show commercials on television designed particularly to capture the attention of the younger generation; place billboards and other advertisements in key locations, such as sites near schools and universities; promote their products on school and university campuses; and give out special discount schemes for ...