POM Individual Assignment

Question 1
There is four styles of potential market segments which are most commonly used.
- Geographic : ZIP code, city, country, climate
- Demographic : Age, gender, income, location
- Psychographic : Personality traits, values, attitudes, interests
- Behavioural : Purchasing and spending habits, brand interactions
I think that desires to happen to this university is they need to use these styles of potential
market segments and come up with a generalized plan so they do not lose college students
anymore. If 5% accumulated each year it is a lot . Over 10 years, that simply a unhappy loss
that the college could prevent. Each certainly one of my goal segments can make a contribution
to helping them find the perfect approach to market place and increase their scholar
demographic. So, the university need to determine out a plan (target segmentation) and
introduce thoughts to the students. Another way is the university needs to take a wide view of
the scholars needs, the customer or student type, and the geographical place to decrease their
lossed and increase their scholar goals.
Question 2
There are four special special characteristics of services :
• Intangibility: Services are intangible and do not have a physical existence. Hence
services cannot be touched, held, tasted or smelt. This is most defining feature of a
service and that which primarily differentiates it from a product.
• Heterogeneity/Variability: Given the very nature of services, each service offering is
unique and cannot be exactly repeated even by the same service provider. While
products can be mass produced and be homogenous the same is not true of services.
• Perishability: Services cannot be stored, saved, returned or resold once they have been
used. Once rendered to a customer the service is completely consumed and cannot be
delivered to another customer.
• Inseparability/Simultaneity of production and consumption: This refers to the fact that
services are generated and consumed within the same time frame.
Services offered by way of a doctor are much more intangible, inseparable, variable,
and perishable than the ones offered via a bank because the physician gives more of a
pure carrier than does a bank. Compared to the offerings offered through a bank, it is
extra hard toassess the excellent ofthe service supplied through a physician earlier t o
purchase, the consumer should be present and is actively involved in the advent of the
service, no two doctor’s consultations or treatments are alike even if achieved by means
of the equal doctor, and the time spent growing the provider cannot be
stored for later buy if the purchaser misses an appointment.
Question 3
a. - Male and female fragrances
- Fashion
- Kitchen applicances
- Home applicances
b. Pros:
1. It makes acceptance of new product easy.

• It increases brand image.
• The risk perceived by the customers reduces.
• The likelihood of gaining distribution and trial increases. An established
brand name increases consumer interest and willingness to try new
product having the established brand name.
• The efficiency of promotional expenditure increases. Advertising,
selling and promotional costs are reduced. There are economies of scale
as advertising for core brand and its extension reinforces each other.
• Cost of developing new brand is saved.
• Consumers can now seek for a variety.
• There are packaging and labeling efficiencies.
• The expense of introductory and follow up marketing programs is
reduced
2. Feedback benefits to the parent brand and the organization.

• The image of parent brand is enhanced.
• It revives the brand.
• It allows subsequent extension.
• Brand meaning is clarified.
• It increases market coverage as it brings new customers into brand
franchise. - Customers associate original/core brand to new product,
hence they also have quality associations.
Cons:
• Brand extension in unrelated markets may lead to loss of reliability if a brand

name is extended too far. An organization must research the product categories
in which the established name will work.
• There is a risk that the new product may generate implications that damage the
image of the original brand will work.
• There are chances of less awareness and trial because the management may not
provide enough investment for the introduction of new product assuming that
the spin-off effect on original work will conpesate.
• If the brand extensions have no advantage over competitive brands in the new
category, then it will fail.
c. Swiss Army open their own retail stores as part to their strategies to gain more market
shares and to showcase the brands's multi-category product. By showcasing their
multi-category products directly to the market, more customers will realize that
Swiss Army is not only knives maker, but also multi-tools kitchen accessories,
business and leisure backpacks and travel accessories.
References
4 Types of Market Segmentation With Examples. (2019, August 28). Retrieved from
https://blog.alexa.com/types-of-market-segmentation/
MSG Management Study Guide. (n.d.). Retrieved from
https://www.managementstudyguide.com/definition-and-characteristics-of-services.htm

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Question 1

- Geographic : ZIP code, city, country, climate

- Demographic : Age, gender, income, location

- Psychographic : Personality traits, values, attitudes, interests

- Behavioural : Purchasing and spending habits, brand interactions

There are four special special characteristics of services :

a. - Male and female fragrances

1. It makes acceptance of new product easy.

2. Feedback benefits to the parent brand and the organization.

• Brand extension in unrelated markets may lead to loss of reliability if a brand

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