Topic 2 Essay Example | Topics and Well Written Essays - 3500 words

Topic 2 - Essay Example It was analyzed using simple analytical tools. The study found out that teens had a lot of influence in their parents' consumption pattern. The concept of marketing has become broad and refined with seemingly segmentation of the market. It has been well studied to come up with the best marketing strategy for organization. This is because marketing forms the core operation of any profit oriented organization. It is a powerful tool for a business to have a breakthrough in its existence. Currently the scholarly world is concerned with studying the effects of having an effective marketing strategy based on different market segments. (Willis, 1990) Market segmentation has continued to grow day by day as more and more researches are revealing needs of different segments of the market. It has tried to shift from tradition segmentation of male and females, old and young, and other segmentation to more refined one. It has also seen the emergence of consumer clubs sub-culture which has driven the market in another direction. These clubs have gone on marketing spree at one time buying particular goods which seemingly identifies a particular club. (Hall, 1997) Sarah (1997a) defines Culture as some particular values or tastes that define a particular group of people. A sub-culture is a division of a culture with particular tastes or values that are not shared with other members of a culture. Marketing have been targeting a particular subculture within a diverse culture. This has become a valued aspect in any marketing strategy. This is important to address various demographic characteristics that are evident in a particular culture. It has become evident that people within a culture do not share the same values and tastes. For example it will be difficult to find the old and the young sharing the same tastes in fashions. This has become important to address the needs of every subculture and also to help create a notable difference between the two sub-cultures. Marketers have been using the concept of sub-cultures to develop refined marketing strategies that address the needs of each and every group in a culture and on the other hand to mar ket product that are seemingly acceptable to consumers. (Donovan and Henley, 2003) The strategy of manufacturing and branding goods targeting the whole population has not bee very successful. It has led to pile up of goods in warehouse due to low sales. Market research data has revealed manufacturing and branding goods with a particular target to a group with a clear knowledge of its demands in terms of purchase power and the consumption pattern. For example the teen group has been found to fast in consumption compared to the old. A senile member of the community will buy a pair of shoe once in a year while a teen of the same community will have bought more than three pairs of shoes in the same time bracket. This