Target Market Segment and Composition, Factors Influencing the Brand L Literature review

Essays on Target Market Segment and Composition, Factors Influencing the Brand Loyalty, Tools in Marketing PR Literature review The paper â€Å"Target Market Segment and Composition, Factors Influencing the Brand Loyalty, Tools in Marketing PR† is a  telling variant of a literature review on marketing. In a market not everyone can be satisfied by one marketer, for instance, not all consumers like the automobile, therefore, a given marketer must have what is known as market segmentation. Market segmentation identifies and categorizes each group of buyers with a common interest in varying products or market mixes. A marketer can identify a given market segment which gives it a bigger opportunity by researching location or areas where they stay and behavioral differences among the potential buyers in the market.If a firm has selected a given market as its target, it should develop the market offering. Marketers normally select marketing programs. For instance, the offers are strategically positioned into the mind of the consumers where they believed to have collective benefits from the marketer, for ins tance, Volvo cars are positioned as the safest automobile to the customers by the marketer because that’s what is the main issue with customers. According to Kotler (2000), the market is viewed as an industry while buyers are viewed as the market.Brand loyaltyThe commitment made by a consumer to purchase a given product is what is defined as brand loyalty. Brand loyalty can be evident when customers continuously buy a given product several times not because there are no other options but because it’s a commitment they have made in their minds. According to marketers, such as p. Kotler et al (1991), it is very important to measure consumer loyalty in terms of how they use the products with the ability to spend more on than product than opting to another alternative which may be cheaper. Kotler et al, says that ‘heavy users’ are very important in a market where they consume most of the supplied product up to 80%.LoyaltyIt is very important to determine if a customer is committed to a given brand, Philip Kotler clearly gives four patterns of behavior that can be considered to determine this important point in marketing which includeHardcore consumers who are loyal to the brand they will buy it every time.Split consumers who are divided into two or three brand products.Shifting consumers who shift from one brand to another.Switchers categorize them as switchers because these consumers can move from one brand to another maybe because of the deals or just looking for a different taste of the product.Factors which may influence brand loyaltyThere are several factors that may contribute to consumer loyalty to a brand ranging from psychological processes. Some of the factors include; the customers perceived value and what they stand for, the trust they have in a given brand in terms of taste and quality over other brands, how customers are satisfied by a given product. The loyalty of a brand is considered by the repetitive purchase and commit ment of the buyers (Kotler et al, 1991). Long loyal customers to a brand are less sensitive to the price changes compared to switching customers who purchase a brand based on the price deals. For marketers, it is, therefore, necessary to build customer loyalty because this is a perfect way to be profitable in a competitive market.