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PSY 322 - Marketing (Memo - Recommendation on the use of Demographic and Psychographic variables)
$ 15.00

To: Management, Kindle Edutoys

From: Marketing Communication Consultant

Date: Jan 22, 2011

Subject: Recommendation on the appropriate use of Demographic and Psychographic variables for potential Marketing Strategy

 

Today is the world of fierce competition and a firm can only survive if it has competitive advantage over its rivals. One way of gaining an edge over competitors is by devising an effective marketing strategy. Since, a firm or an organization cannot cater all of its customers and keep them happy at the same time, a phenomenon known as market segmentation is used to identify people having similarities in groups and targeting them accordingly. 

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