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.