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MKTG1001 Foundations of Marketing

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Answer:

In this present era of digitalization and social media people love to spend more time digitally and that is reducing the social interaction among people. Considering that AxeChix is developing a real-life experience for women by making bookings digitally, it provides them with the opportunity to cone together to have fun based on different activities. There will be a system where groups of women together can register or book them like booking a taxi or cab from an application. Alongside that, based on the needs of women in practical experiences, AxeChix will take in professionals who will go for training and attending group of women to deal with different kinds of games and tournaments (Bao and Leibbrandt 2020). Not like the virtual games, here women can have real experience where only women can participate with the employees and trainer and can have own friends as well.      

Market segmentation

Market segmentation is a process in which the target market is consolidated into approachable groups. The division in the market initiates different kinds of segmentation for the market based on demographic as well as psychographic needs to satisfy groups of customers based on their individual needs (Sharma and Kota 2019). In the process of business marketing, the segments adhere to the development of the business to have a clearer target base. Markets can be divided based on distinguishable ways which include demographics, geography, behaviour, and psychographic segments.

Market Segmentation

 

Segment 1

Working women

Segment 2

Young women

Segment 3

Enthusiast

-          Country

Sydney

Sydney

Sydney

-          Region

Multi-state

Multi-state

Multi-state

-          Climate

Humid Subtropical

Humid Subtropical (Khare and Bhagwat 2019)

Humid Subtropical

-          Age

19-30

18-25

20-24

-          Income

23-50 K

26-45K

25-40 K

-          Gender

Female

Female

Female

-          Lifestyle

Busy schedule

Social awareness

Distinguished

-          Personality

High knowledge and expertise.

Has background knowledge.

Shows a keen interest in things (Liu et al. 2019).

-          Loyalty

Strong

Medium

Absolute

-          Corporate Habits

Frequently

Occasions

Periodically

Table 1: Market segmentation

Segment 1- Working women

Working women are providing a better experience of entertainment and that is why they come into sharing their common experience at AxeChix. Women need to have an understanding of the accredited approach for coaching and safety in the remaining time. AxeChix is ensuring to find out a viable experience for safety training and requirements. Women need to get an understanding in the process of hiring people to advise them for a better concept of entertainment among the groups of women with different activities in which AxeChix can work as a viable enterprise to advise them (Govindasamy 2018). Marketers in the process of marketing are good enough in terms of ensuring trust which is an emotional factor for attracting female shoppers.

Segment 2- Young women

Young women are considered to be the target market for providing enough knowledge for appropriate audience with precise ideas and messages. Provision of appropriate knowledge and trying on new brands is necessary to meet the targeted campaign needs (Keiningham et al. 2020). In order to welcome young women from the target market, it is necessary to ensure familiarity with the behaviours as well as their likes and dislikes. AxeChix needs to bring in the proper development of ideas and safety necessities for the people in the market.

Segment 3- Enthusiasts

Enthusiasts need to be framing different groups to ensure the audience is dealt effectively to gain familiarity with the target audience. Identifying and knowing about the audience has to be permitted to maintain clarity and that can help to generate business leads in an affordable manner (Talón-Ballestero et al. 2018). AxeChix needs to ensure reaching out to the audience is a presentable manner to gain familiarity with the target market.

Target market and customer profile

A target market identifies customer groups based on services available in the market and how it aims in establishing efforts and resources in the market. It is an aspect of the total market or service available within the business market to attract the target audience from the competitive market. By acquiring a solid and relevant base, it boosts customers to have profitability in demand variables (So, Wei and Martin 2021). The target market is grouped based on age, location, lifestyle as well as income levels. This segment is likely to invest in the total market for the business. As a result, the segmented portion has to be aware of purchasing the products at certain aspects in arrival.

The target market for AxeChix is working women. By focusing on this group, AxeChix needs to create coaching and safety to ensure training takes place for the remaining time. In such a case, AxeChix needs to ensure the applicability of viable enterprises to have hired the corporate bookings to be made applicable to advise them. The employees need to be provided with viable opportunities necessary for success in the availability of corporate bookings (Tao et al. 2019). Therefore, the target market needs to ensure that proper environmental ideas and setting division into smaller segments is necessitated. The target market has to make periodic availability of customer profiles to experience the achievement of goals in a proper manner. Working adults have to have a strong loyalty in ensuring AxeChix has a strong market design and demand games that make use of virtual applicability.

Upon initiating market acceptability, AxeChix likely experiences a viable experience to succeed in the market. As an independent consultant, it needs to understand certain factors and characteristics for gaining meaningful experiences from customers. Therefore, customer profile indicates accessibility to bring essential customers into the market. The target market for young customers needs to include proper accreditation for coaching and safety requirements for female employees (Elg et al. 2020). In doing so, the viable enterprise has to be initiated for the provision of opportunities in which the current environment is prevalent. AxeChix needs to ensure the designing of a plan to realize the opportunities for differentiation of opportunities.

Differentiation and positioning

Product design

AxeChix needs to create a women-only entertainment wherein it becomes the hottest adult experience in Sydney. As a new company, AxeChix are hoping to get into the market for consumers to have a great experience. Bookings are to be made in ensuring coaching and safety training is applicable for the applicability of corporate bookings. In doing so, carrying a viable enterprise and taking coaching and safety requirements are to be built to ensure proper applicability of corporate bookings. The coaching and safety requirements are in realizing the opportunity to design plans for applicability and availability in where the current environment is existent in (Huang 2019). The employees are to make viable enterprise for assessing the bragging rights and creating viable experiences to make the applicability of corporate bookings. Upon building up proper experience, it applies to how products are made sustainable for long-term business.

Service

The service for AxeChix is that it aims for creating coaching and safety training in tournament game-play for making corporate bookings available. AxeChix has to bring in employees to create viable expertise for the application of tournament game-plays. The tournament is seen as a way to ensure the applicability of the champion axe thrower to be remaining in game-play. AxeChix needs to provide opportunities for making serviceability of options in the services. Services imply how the company is likely to initiate the provision of items at the marketplace (Lee and Lee 2020). The services imply enhancing user experience and how they make sustainability for meeting long-term business needs. Also, serviceability applies to making products serviceable for meeting the long-term business needs.

Positioning

Positioning identifies where the products or services are to be depicted in the marketplace. Connecting the brands with specific connectors is in the applicability of differentiated products from competitors so that they are aware of the concept in brand awareness. Upon associating with the products, AxeChix needs to interpret proper projection of the brand with a high quantity. Positioning implies how it is distinguished from competitor’s products for a different concept in brand awareness for the product (Saqib 2020). The uniqueness of the product ensures that they are distinct and create positioning in the marketplace. In the case of AxeChix the applicability of positioning is considered to be making a unique item in the market. As a result, this ensures that the availability of appropriate ideas can act as a distinct benefit for product uniqueness. In this aspect, the positioning makes use of a distinct market for considering the uniqueness of the product capabilities.


                                               Figure 1: Positioning map

Advertising

Advertising is a communication strategy that can be utilized by the team to ensure that the marketing team can reach the potential target audience based on the content of the services or products. The advertising strategy for AxeChix is required to be done on the basis of understanding the consumer profile in different media channels.

Personal selling

Personal selling is an approach for initiating how people are supposed to take the new strategies to help an organization reach out to the target audience. In absence of having a proper knowledge regarding the desire and willingness among individual consumers the organization cannot make personal selling effective (Hamdan et al. 2020). In this aspect, AxeChix needs to make use of this approach for utilizing its abilities to maximize sales.

Digital marketing

 Digital marketing is online marketing that applies to connecting potential customers with the internet and other forms of digital platforms to link in both digital and offline business ways. Considering the case of AxeChix it can be interpreted that potential forms include email, social media, and other messages that can be utilized as a marketing channel to aware the consumers about the services and products.

Conclusion

Therefore, it can be concluded from the study that marketing is a process of exploring and delivering the market needs to the customers in the market. Marketing is a procedure in which activities are undertaken to sell or deliver products to customers on the company's behalf. This study has focused on the identification and development of AxeChix to come up with new experiences for women. In this study, working women are shown as considered as a target market to connect with the organization’s needs in order to find the strengths and weaknesses associated with the business process and activities. Therefore, in doing so, differentiation points and positioning of customers can help deliver the services to the consumers and to other stakeholders. In doing so, market delivery affiliates need to take the delivery of products into the market for promoting the company's needs.

References

Bao, Z. and Leibbrandt, A., 2020. Tournaments with safeguards: A blessing or a curse for women.

Camilleri, M.A., 2018. Market segmentation, targeting and positioning. In Travel marketing, tourism economics and the airline product (pp. 69-83). Springer, Cham.

Elg, M., Gremyr, I., Halldorsson, Á. and Wallo, A., 2020. Service action research: review and guidelines. Journal of Services Marketing.

Govindasamy, R., 2018. Cluster analysis of wine market segmentation–a consumer based study in the mid-atlantic usa. Economic Affairs, 63(1), p.295363.

Hamdan, Y., Ratnasari, A., Sofyan, A. and Yuniati, Y., 2020, March. Personal Selling Skill in Building Interaction with Consumers. In 2nd Social and Humaniora Research Symposium (SoRes 2019) (pp. 262-266). Atlantis Press.

Horton, K., 2018. Just use what you have: Ethical fashion discourse and the feminisation of responsibility. Australian feminist studies, 33(98), pp.515-529.

Huang, D., 2019. Research into the Application of Linguistic Adaptation Theory in Personal Selling Communication. Theory & Practice in Language Studies, 9(3).

Keiningham, T., Aksoy, L., Bruce, H.L., Cadet, F., Clennell, N., Hodgkinson, I.R. and Kearney, T., 2020. Customer experience driven business model innovation. Journal of Business Research, 116, pp.431-440.

Khare, A. and Bhagwat, J., 2019. The relevance and utility of market segmentation for the international hospitality industry. Atithya: A Journal of Hospitality, 5(1), pp.4-7.

Liu, H., Huang, Y., Wang, Z., Liu, K., Hu, X. and Wang, W., 2019. Personality or value: A comparative study of psychographic segmentation based on an online review enhanced recommender system. Applied sciences, 9(10), p.1992.

Saqib, N., 2020. Positioning–a literature review. PSU Research Review.

Sharma, M. and Kota, H.B., 2019. The role of working women in investment decision making in the family in India. Australasian Accounting, Business and Finance Journal, 13(3), pp.91-110.

So, K.K.F., Wei, W. and Martin, D., 2021. Understanding customer engagement and social media activities in tourism: A latent profile analysis and cross-validation. Journal of Business Research, 129, pp.474-483.

Talón-Ballestero, P., González-Serrano, L., Soguero-Ruiz, C., Muñoz-Romero, S. and Rojo-Álvarez, J.L., 2018. Using big data from customer relationship management information systems to determine the client profile in the hotel sector. Tourism Management, 68, pp.187-197.

Tao, F., Sui, F., Liu, A., Qi, Q., Zhang, M., Song, B., Guo, Z., Lu, S.C.Y. and Nee, A.Y., 2019. Digital twin-driven product design framework. International Journal of Production Research, 57(12), pp.3935-3953.

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