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Quadfurcation of Market

  Yes, the title is giving directional clues towards ‘Market Segmentation’, the most important part while making a marketing strategy. Market Segmentation determines how the organization, on the basis of age, income, personality, or behavior has divided its consumers. These segments can be used later to optimize products and promotions for different consumers. Market segmentation at its core is the practice where it divides the target audiences into approachable groups. It generates market subsets based on the demographics, needs, priorities, common concerns, and other psychographic/behavioral criteria that are used to better understand the target audience. You can leverage the product, sales, and marketing strategies by understanding these market subsets. Creating marketing communications using both traditional and digital platforms, the segmentation will allow to improve responses and reduce buying costs. These segments can also boost the development cycles of products by provid...

Bit Part of Mystery Shopping!

There are so many debates going on whether Mystery Shopping is legal or illegal. But before reaching a point or conclusion we should look at how they are conducted from a geographical-eye. MSPA(Mystery Shopping Providers Association) has given certain guidelines and principles(ethical and technical) that must be followed, though they differ from country to country, but yes! They just are obeyed. What exactly Mystery Shopping is? In layman’s words, it is described as spying done by a company(or a third party company) on its staff, or auditing is done to check the quality of service, the organization, and management. Many brands conduct mystery shopping by using trained individuals in order to determine: ●       Proper placement of POP(Point of Purchase) materials. ●       Store traffic patterns. ●       Consumer product placements. ●       Price checks. In a parallel world,...