Target Market Segments Research Articles

I’m Glad I Met You: Ageism Interventions in an Entrepreneurship Course

It is important that students across university disciplines and class years explore their attitudes about ageism, aging, and older adults. Yet few if any ageism interventions in academic settings are directed at business students, instead targeting disciplines such as health sciences. In this paper we offer requisite detail of ageism workshops we developed for use in an undergraduate entrepreneurship course, including discussion of our results. Business curricula at the university level can serve to reinforce age gaps through the study of functional areas such as marketing (target market segmentation) and finance (retirement planning). In entrepreneurship, stories of youthful startups persist despite recent findings that strongly reject the notion that youth is a key trait of successful entrepreneurs. In the context of workplace ageism, ageism interventions, and age in entrepreneurship, we modified the Disrupt Aging curriculum offered by A.A.R.P., which facilitates an examination of one’s personal attitude about age and aging. Our twist was to focus the curriculum on entrepreneurship and have our students work in groups with an entrepreneur from the Baby Boom generation. This innovation to our curriculum provides promising evidence of effectiveness as measured in pre- and post-workshop attitudes about ageism and entrepreneurship.

The Influence of Digital - Based Strategic Management in Increasing Consumer Purchasing Interest

The study delves into exploring the impact of digital-based strategic management on consumer purchasing interest, particularly focusing on the local wisdom product "Tedung Bali." Situated within the captivating backdrop of the Mengwi Traditional Village in the Badung Regency, the research embarks on a quantitative journey employing univariate and bivariate analysis techniques. The primary data, collected through meticulously crafted questionnaires administered to 123 enterprising individuals involved in the production of "Tedung Bali," forms the cornerstone of this investigation. Utilizing the Chi-Square test as its analytical tool, the study aims to unravel the intricate relationship between the utilization of social media platforms and consumer inclination towards purchasing "Tedung Bali" products. The findings illuminate a compelling correlation, underscoring the pivotal role of social media engagement in shaping consumer behavior towards these indigenous treasures. Furthermore, the demographic profile of respondents reveals intriguing insights, with a predominant representation of males in the 41-50 age bracket, possessing a high school or equivalent educational background. These demographics serve as invaluable markers, offering nuanced perspectives on consumer preferences and behaviors within the targeted market segment. The implications of this research extend beyond the realms of academia, resonating profoundly in the practical domain. By advocating for the integration of digital-based management strategies in the marketing endeavors of local wisdom products, the study underscores a pathway towards achieving tangible success amidst a fiercely competitive market landscape. This strategic alignment promises not only to elevate the visibility and desirability of "Tedung Bali" products but also to foster a sustainable ecosystem conducive to the preservation and promotion of cultural heritage.

FORMAT PENDAMPINGAN USAHA MIKRO, KECIL DAN MENENGAH UNTUK MENAIKKAN OMZET DI KECAMATAN CIPAYUNG, SUKMAJAYA, DAN PANCORAN MAS, KOTA DEPOK

In the current pandemic era, it is undeniable that Micro, Small and Medium Enterprises (MSMEs) are the backbone of the national economy. In the midst of many large businesses that have gone bankrupt. Even so, there are still many MSMEs that still apply conventional patterns in marketing their products. Even though consumers have changed, consumer behavior has also changed, so that without realizing it, the marketing of MSME products is not optimal. One way for MSMEs to be carried out optimally is by providing business assistance. The purpose of this research is to find out the right format in assisting MSMEs to increase their business turnover and be able to expand the market. The research model used is a qualitative descriptive research model. In conclusion, business assistance by institutions or people who are experienced in business can be a perfect solution for MSMEs. However, what is quite a concern is the way of business assistance in each MSME, the method used is not always the same. It depends on the type of business being carried out, the target market segment, and the marketing area. All of this becomes a single unit in developing an existing business.

A review for creating a tour package: A case study for students of tourism

This research aims to find out how to arrange tour packages that are competitive and can generate profits but can also satisfy consumer satisfaction, in this case, tourists. A series of activity stages are carried out before the tour package is carried out, planning, implementation, and evaluation. The planning stage includes exploring tourist destinations, creating an itinerary, and preparing human resources, logistics, and supporting supplies. The tour implementation stage includes creating a tour package and financing. The evaluation stage is the stage of reviewing the tour package by paying attention to the concepts of target market, market segmentation, and positioning. This research is qualitative research. Data from this research were obtained from observations, literature studies, and interviews with tour package organizers. The data obtained was then collected, reduced, and then analyzed.

Perumusan Strategi Business Model Canvas (BMC) Pada Rumah Tape Medan Tuntungan

This research will provide an overview of how a business model is built, so that MSMEs can obtain simple information to design a business model according to the product produced and according to the target market segment. The purpose of Business Model Canvas (BMC) planning is to obtain information about the best planning for productive partners if applied as appropriate technology and models in MSMEs. The long-term goal is to become literate among MSMEs on how to develop a business model concept that is easy, simple and complete. This research will also contribute to new MSME players in designing business models before building a business. So that potential risks can be discovered early and solutions can be found. This research is a qualitative research. The data collection technique was carried out using a combination of observation, interviews and FGG at the UMKM Rumah Tape Medan Tuntungan. The research results show that BMC can be used in designing business models for Tape House MSME entrepreneurs which have been running for some time.

Advertising in Instagram Social Media

Advertising is currently facing significant difficulties, whether people know the effect of the number of advertisements on advertising saturation. The public is presented with communication tools by the new era media. Anyone involved in advertising should be aware of this situation because the evolution of advertising is parallel to the new media movement. As a result, the expectations of the target market segment will be better met. A profession associated with a new style of advertising, driven by the appearance and popularity of social media, has responded to the challenges of today's new advertising style. utilizing social media as a new choice in communication strategies, such as Instagram social media which is a forum or place for building relationships, communicating with anyone and anywhere, showing pictures or short videos, expressing expressions using the available comments column, the function of Instagram social media is also a social media that builds a good image or picture in the process of marketing products or services offered by entrepreneurs or business people

Peran Food Vlogger Tasyi Athasyia dalam Mempengaruhi Keputusan Konsumen pada Pembelian Produk Makanan

The most popular content is about food, thus opening up a livelihood as a food vlogger. This research uses a qualitative approach, with exploratory research methods. The data confirmation technique uses the concept of source triangulation, namely by interviewing several different sources. Tasyi Athasyia's role as an influencer often provides personal views and experiences in consuming certain foods which serve as a source of information for consumers in choosing suitable food products. Tasyi Athasyia's influence as a food vlogger on purchasing food products can also be influenced by other factors such as the target market or certain market segments that are Tasyi Athasyia's audience. A successful influencer marketing campaign can also increase consumer trust in a brand or product, strengthen customer loyalty, and increase productsales. This study also explores the success of influencer marketing campaigns, such as those carried out by Tasyi, in increasing consumer trust in a brand or product.

EFFECT OF MARKET DEVELOPMENT AND PRODUCT DIVERSIFACTION STRATEGIES ON PERFORMANCE OF MEDIUM ENTERPRISES IN NORTH CENTRAL NIGERIA

This study examined the impact of market expansion and product diversification on the performance of medium-sized businesses in North Central Nigeria. The study utilised primary data from a sample of three hundred eighty four (384) respondents from the selected medium enterprises who are managers or proprietors. The collected data were analyzed using multiple linear regression. Using the probability value of regression estimates, the study hypotheses were examined.. The result of the study shows that Market development (MDVP) has a positive impact on the performance of Medium Enterprises (PFRM) in North Central Nigeria, and the effect is statistically significant (p<0.05) and consistent with a priori expectations. Product diversification (PDIV) has a negative effect on the performance of Medium Enterprises (PFRM) in North Central Nigeria and the effect is not statistically significant (p>0.05) and also not in line with a priori expectation. It was concluded that developing new markets and expanding product lines are two of the most prevalent company expansion tactics that organisations employ. It was recommended among others that before embarking on product diversification, thorough market research is essential. This involves analyzing customer needs, preferences, and purchasing behaviors in the target market segments.

Consumer behavior analysis based on Internet of Things platform and the development of precision marketing strategy for fresh food e-commerce.

The traditional approach to e-commerce marketing encounters challenges in effectively extracting and utilizing user data, as well as analyzing and targeting specific user segments. This manuscript aims to address these limitations by proposing the establishment of a consumer behavior analysis system based on an Internet of Things (IoT) platform. The system harnesses the potential of radio frequency identification devices (RFID) technology for product identification encoding, thus facilitating the monitoring of product sales processes. To categorize consumers, the system incorporates a k-means algorithm within its architectural framework. Furthermore, a similarity metric is employed to evaluate the gathered consumption information and refine the selection strategy for initial clustering centers. The proposed methodology is subjected to rigorous testing, revealing its effectiveness in resolving the issue of insufficient differentiation between customer categories after clustering. Across varying values of k, the average false recognition rate experiences a notable reduction of 20.6%. The system consistently demonstrates rapid throughput and minimal overall latency, boasting an impressive processing time of merely 2ms, thereby signifying its exceptional concurrent processing capability. Through the implementation of the proposed system, the opportunity for further target market segmentation arises, enabling the establishment of core market positioning and the formulation of distinct and precise marketing strategies tailored to diverse consumer cohorts. This pioneering approach introduces an innovative and efficient methodology that e-commerce enterprises can embrace to amplify their marketing endeavors.

Literature review: visible light communication system business model scheme for telecommunication business in Indonesia

The telecommunication sector mainly comprises operators, vendors, and regulators. In Indonesia, tele- communications operator companies tend to decrease profits from the first quarter of 2017 to the third quarter of 2018. This condition is due to the tight competition of telecommunication service providers, high operational costs, and digital transformation that does not provide substantial revenue for the company. Telecommunica- tions operators need other service options that can expand target market segmentation. It aims to open up a new blue ocean as a new source of income. The world is getting closer to massive communication technology, so high-speed communication is needed. Therefore, telecommunications operators can open new service options based on the visible light spectrum as their communication resources. This option can be integrated with ambient lighting, a wide spectrum ranging from radio waves, and greater bandwidth, making visible light suitable for IoT- 5G services. This research aims to design a wireless visible light communication business model. Several frame- works are used, such as the magic triangle of St. Gallen, Osterwalder Business Model Canvas, and PESTLE analysis. The business model design results in a business model with B2B market segmentation being the main focus and B2C market segmentation to acquire retail customers.

Proposed Business Strategy for PT. Pilar Kencana Tama to Win the Increasing Competition

PT. Pilar Kencana Tama has several limited capabilities that weaken the company's competitiveness and external factors that often hinder its business operations in the construction services business industry. Meanwhile, market demand for business products from contracting companies is increasing along with the increasing population growth in Indonesia. A new business strategy is required that can support Pilar to develop in the long term and take advantage of the momentum of high market demand for civil construction so that Pilar can have a high market share in its business industry. The approach to solving strategic problems owned by Pilar is with an analysis framework of the internal and external business environment to design a new business strategy. The external environmental analysis is used by the PESTEL framework which includes Political, Economic, Social, Technological, Environmental and Legal aspects. The internal environment analysis is used by the stakeholder mapping framework, VRIO, the BCG (Boston Consulting Group) growth share matrix, and the business model canvas. Other analytical data were obtained through qualitative interviews with Pilar’s director, external parties regarding new business model proposals, quantitative surveys with prospective customers and several literature reviews to support the data analysis. Both types of analysis are summarized in the form of SWOT analysis to serve as basic parameters for strategy formulation using the Diamond Strategy and a new business model canvas as well as additional strategy formulation using Strategy Moves to determine how Pilar attacks on competitor companies if necessary. The results of the study show the company's advantages such as the big amount of its heavy equipment resources and the company's orientation that emphasizes quality over quantity. However, Pilar also has weaknesses from its operational capacity such as unproductive and uncreative human resources, lack of business line expansion, and only has one channel to market its business products, so that Pilar cannot easily jump right to try new business models outside of the business model which has already been done. With the analysis results related to other construction model business opportunities, Pilar needs to implement a new business model proposal by implementing several predetermined strategies. The proposed strategy to support Pilar's success in running the new business model is by overhauling the company's internal resources, implementing the Diamond Strategy that has been determined, and implementing several aspects that have been calculated related to the determination of the level of importance of criteria from customers in buying products related to the proposed new business model. Pilar also needs to use the Differentiated Circle concept in target market segments to attack larger competitor companies that have long been in the area where Pilar will carry out the proposed new business model.

Market Analysis for “Naga Minerals “ and It Competitions Over National and Regional Brands

This market analysis aims to investigate the competitive landscape of “Naga Minerals” and its position against national and regional brands in the market. The study encompasses a comprehensive examination of the mineral industry, focusing on the company’s products, market share, and key competitors. By conducting an in-depth analysis, this research seeks to provide valuable insights into the market dynamics, customer preferences, and strategies employed by “Naga Minerals” and its competitors. The analysis begins by delving into the mineral industry’s overview, including market size, growth potential, and key drivers shaping the sector. It then narrows down to explore the specific product portfolio of “Naga Minerals,” emphasizing its unique selling propositions and target market segments. Through a thorough examination of industry data, customer feedback, and market trends, the study assesses the company’s market position and competitiveness.

TOOLS FOR INCREASING THE COMPETITIVENESS OF ENTERPRISES USING MARKETING COMMUNICATIONS

The general composition of the marketing toolkit of enterprises is summarized. The goal of the study was the formation of tools for increasing the competitiveness of agricultural enterprises by means of marketing communications. The place of marketing communications of enterprises in the general system of the marketing mix is shown. The general criteria of competitiveness of agricultural enterprises are outlined. The directions and means of using marketing communications in order to strengthen the competitiveness of agrarian business entities have been determined, in particular by groups: (1) dissemination of communication and research policy, (2) communications in the field of product and market portfolio, (3) financial and resource planning of communications, (4) development of strategic market communications. The factors of the development of processes of interpretation of the information received by users are determined. It has been established that the competitiveness of an agricultural enterprise is a complex system category that gives a comprehensive description of its ability to oppose direct competitors, both at the current time and in the strategic perspective, in the target market segment where the enterprise’s products are positioned, in order to ensure the functioning and planned development under the pressure of competition and the action of factors and conditions of the business environment. A structural and functional model for improving the policy of ensuring the competitiveness of agricultural enterprises has been developed. An arsenal of tools for increasing the competitiveness of enterprises in the agrarian sector of the national economy by means of marketing communications has been developed.

TOOLS FOR INCREASING THE COMPETITIVENESS OF ENTERPRISES USING MARKETING COMMUNICATIONS

The general composition of the marketing toolkit of enterprises is summarized. The goal of the study was the formation of tools for increasing the competitiveness of agricultural enterprises by means of marketing communications. The place of marketing communications of enterprises in the general system of the marketing mix is shown. The general criteria of competitiveness of agricultural enterprises are outlined. The directions and means of using marketing communications in order to strengthen the competitiveness of agrarian business entities have been determined, in particular by groups: (1) dissemination of communication and research policy, (2) communications in the field of product and market portfolio, (3) financial and resource planning of communications, (4) development of strategic market communications. The factors of the development of processes of interpretation of the information received by users are determined. It has been established that the competitiveness of an agricultural enterprise is a complex system category that gives a comprehensive description of its ability to oppose direct competitors, both at the current time and in the strategic perspective, in the target market segment where the enterprise’s products are positioned, in order to ensure the functioning and planned development under the pressure of competition and the action of factors and conditions of the business environment. A structural and functional model for improving the policy of ensuring the competitiveness of agricultural enterprises has been developed. An arsenal of tools for increasing the competitiveness of enterprises in the agrarian sector of the national economy by means of marketing communications has been developed.

Sentence Completion Test – Research and Inspirational Tool for Industrial Designer

The traditional documentation techniques used by designers fail to capture the needs, expectations and interests of the subconscious of the targeted market segment. Sentence completion test is a technique that can identify these elements both at conscious level and subconscious level. The purpose of this research was to verify on a practical case the usefulness of the technique as a research and inspirational tool for designers and also to propose a test structure when applying the technique in the field of product aesthetics.

A STUDY OF EFFECTIVE USE OF MARKETING STRATEGIES TO IMPROVE THE FINANCIAL PERFORMANCE WITH REFERENCE TO DIVINE INDUSTRIAL SOLUTIONS, JAYASINGPUR

The marketing strategy is not just evaluating the external and internal factors, but it also needs to be implemented efficiently to develop an attractive suitable product and distribution channel, to hire an effective sales team and to generate business support for the firm. The study of 150 customers located in Kolhapur (Maharashtra) which are manufacturer and traders also who purchase Divine Industrial Solutions products. The primary data is collected through Questionnaires, Personal interview, discussions, field survey from these 150 customers and the secondary data is collected from the companies previous records, files as well as review of financial statements, balance sheets etc. for the period of three year from 2019 to 2022. The marketing strategy of an enterprise is a complete and unbeatable plan or instrument specifically designed to achieve the set of marketing objectives that will influence and finally improves the financial performance of the company. The marketing strategies is a managerial process of developing and maintaining the relationship between the changing market opportunities, as well as enhancing the financial growth and performance of the company. Marketing strategies further predetermines the choice of target market segments, positioning, marketing mix and allocation of resources. This research will provide insights into the various marketing strategies to improve the financial performance of the organization and to maintain the growth of the organization. Keywords:- Marketing Strategies, Strategic Marketing, Financial Performance.

Strategi Sales Admin dalam Mengelola Event Pesparawi Jambi di Gallery Prawirotaman Hotel Yogyakarta

The Jambi Pesparawi event is an annual event organized by members of the Church Choir and is a target market segment for hotels that need to be handled properly, for that the hotel must have a strategy so that the event can be held at Gallery Prawirotaman Hotel Yogyakarta. This study aims to find out how the strategy carried out by the sales admin in managing the Jambi Pesparawi Event. This study used the Case Study research method at the Jambi Pesparawi Event at the Gallery Prawirotaman Hotel Yogyakarta. The results showed that the strategy carried out by the Sales Admin of the Prawirotaman Hotel Yogyakarta Gallery was divided into three stages, namely the event planning stage, the event implementation stage, and the post-event stage.

Marketing With Purpose: Building Upon Momentum in the Angel City

The growth of women’s sports, specifically women’s soccer through the National Women’s Soccer League, creates a contemporary landscape through which students explore the relationship between revenue-driving and community-based marketing strategies. Drawing upon the realistic case of Angel City Football Club, a National Women’s Soccer League expansion franchise in Los Angeles, students will study and discuss the role of a socially responsible team position, analyze and create target market segmentation strategies, generate sponsorship partner recommendations, and create a social media campaign for this growing women’s professional sport in one of the United States’ most diverse and sport-crazed cities.

МЕТОДИЧНИЙ ПІДХІД ДО ФОРМУВАННЯ МАРКЕТИНГОВОЇ СТРАТЕГІЇ ПРОСУВАННЯ ПРОДУКЦІЇ НА НОВІ РИНКИ

The study revealed the relevance of the problem of improving the method of forming a marketing strategy for promoting new products to the market. The purpose of the study is to improve the theoretical, methodological and applied principles of substantiation of the marketing strategy of promoting products to new markets. Micro- and macro- as well as endo- and exogenous factors influencing the formation of marketing strategies of business entities are analyzed. The external competitive environment of the enterprise analyzed in the study was analyzed. It has been established that this is a highly competitive market, and the level of competition in this market is gradually weakening. A competitive map of the enterprise's product market was compiled according to such parameters as the size of the competitor's market share and the rates of its expansion (narrowing). A model for choosing a marketing strategy for promoting the company's products to new markets has been developed, depending on the identified competitive advantages. It has been proven that it is advisable to interpret the marketing strategy of promoting products to new markets as a set of elements that characterize a principled logic different from competitors based on the use of key competencies for the most effective distribution of strategic resources in the business process system with the aim of creating products that meet consumer priorities.
 The scientific novelty of the research results lies in the improvement of the methodical approach to the promotion of the company's products to new markets by forming an appropriate marketing strategy.
 The applied value of the research results is that the implementation of the appropriate methodical approach will allow, with lower sales costs, to ensure better positioning of the company's products in the target market segment, which will contribute to increasing sales volumes and higher business efficiency in general.

MARKETING APPROACH TO MANAGEMENT OF TOURIST PRODUCT FORMATION

Modern business conditions require market entities operating in the tourism industry to constantly monitor external and internal factors that have a direct impact on their activities. The authors of the article claim that the development of the market, and at the same time, the development of consumers, by increasing their requirements for a tourist product, requires enterprises to improve the efficiency of their activities by applying innovative, complex approaches to managing the process of forming a tourist product. The analysis of modern literary sources carried out by the authors of the article showed the insufficiency of substantiated methodical tools for the comprehensive implementation of marketing elements when managing the process of forming a tourist product of a marketing approach. Thus, the main task of the research is to provide business entities that manage the process of forming a tourist product in conditions of uncertainty with a scientifically based, improved analytical and comprehensive tool for confronting modern socio-political and economic challenges. Within the scope of the study, the authors clarified the definition of managing the process of formation of a tourist product in the marketing approach and it is proposed to understand it as the planning of comprehensive customer service, the organization of its promotion on the market of tourist products at a specified price, through optimal sales channels and the construction of effective communication with target market segments. The article establishes the sequence of the process of forming a tourist product, which, according to the authors, covers the definition of demand and supply in the tourist market; definition of functional features of the product; generation and selection of ideas; formation of a strategy and tactics for the development of a tourist product; development of a marketing strategy for product implementation on the tourist market; market testing; assessment of economic and social efficiency; corrective actions, product modification; introduction of the product to the tourist market. The authors identified the main factors that form the value for consumers of a tourist product, and also provided a comparative description of the key roles of management and marketing in the process of forming a tourist product. The authors focused special attention on the development of a marketing complex in the field of tourism, which differs from existing approaches in that it covers both internal and external elements.