Marketing Management week 2 Discussion
Look for popular press articles that discuss segmenting/targeting/positioning of products/brands. In your post, summarize the article and then discuss which principle(s) of marketing are illustrated by it. Please include a link to the article. Please see the below Examples for reference.(Please don’t copy paste the same examples).And also give comments to example 1 and example 2.
Tasks to be done:
1) Look for popular press articles that discuss segmenting/targeting/positioning of products/brands. In your post, summarize the article and then discuss which principle(s) of marketing are illustrated by it. Please include a link to the article (1-2 paragraphs).
2) Give comments by reading Example 1 and Example 2(1 paragraph each)
Example 1:
I read an article about how Uber is launching a marketing unit/department to target customers. The campaign allows advertisers and marketers to connect with customers at various parts of their journey/stops. For example, when a customer is checking the route they are on, an advertisement will show up. Uber is using segmentation, specifically through geographic distinctions. An advertiser will be able to target a potential customer based on that customers current location and where they are going to. Uber will be able to collect this information about its users and help marketers practice one-to-one marketing. An example of this is a restaurant can specifically target people who are in the vicinity of their restaurant.
Example 2:
As a result of America’s housing market slowing, realtors are finding creative ways to market homes and close deals. Mortgage rates in America are approaching 7%, which is the highest they have been in two decades.
Realtors are working diligently to pitch homes in a way that they will still appeal to potential buyers despite the high mortgage rates. One way they are doing this is by pitching something called a buy-down incentive. In this arrangement, the seller of the home will take care of a portion of the interest rate that the buyer would have been responsible for in the initial years of the mortgage.
Additionally, sellers are using adjustable rate mortgages to encourage selling homes. Adjustable rate mortgages are a type of loan where the interest rate changes depending on where benchmark mortgage rates are currently at.
However, even with these nontraditional mortgage options, some sellers must find other unique ways to continue selling homes during this time. Realtors have come up with creative ways to market homes such as free pilates lessons and craft beer passes.
This article discusses the promotion of a product (the house) through negotiating price by using nontraditional mortgage options and using nontraditional promotions, such as craft beer passes and pilates classes.
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