Segmentation, Targeting and Positioning to Circulate to all employees Essay

Segmentation, Targeting and Positioning to Circulate to all employees - Essay Example Jane Thomas’s Wyoming Analytical Laboratories, Inc may segment the market based on: income, age gender, occupation and marital status (Lamb, Charles, Joseph and Carl D, pp 403). Whereby, the market may be segmented on the bases of income, for example; low income earners and higher income earners may be served under different markets segments (Strydom, pp 161-164). Additionally, Thomas’s Wyoming Analytical Laboratories, may segment their market based on marital status whereby, the company may offer products and services for married and unmarried customer (Pride, William and Ferell, pp159-162). Connectively, the company may segment the market and products based on the age. Whereby, young and elderly people may be served under different market segments (Pride, William and Ferell, pp159-162). In above connection, Thomas’s Wyoming Analytical Laboratories may segment the market based on gender for instance they may offer products for Male and female under different market segments (Pride, William and Ferell, pp159-162).Below is a figure showing strategies that Thomas’s Wyoming Analytical Laboratories, Inc may utilize to segment their market; Additionally, Thomas’s Wyoming Analytical Laboratories, Inc may consider the various types of segmentation that may suit their needs. The basic types of market segmentation include; geographical segmentation where the market is divided into states, counties, towns, provinces to name just but a few (Lamb, Charles, Joseph and Carl D, pp124-126). The diagram below indicates how Jane Thomas’s Wyoming Analytical Laboratories, Inc may apportion the market using geographical segmentation. Source: Authour In above connection, the company may apply behavioral segmentation whereby, customers with similar behavior may be served within the same market, for instance loyal customers may be served together (Lamb, Charles, Joseph and Carl D, pp124-126). The company may utilize psycho graphical type segmentation whereby; the market may be apportioned based on customers taste, attitude, values and their interest as shown in the diagram below (Strydom, PP 160-163). Source : . Targeting ap pertains a marketing concept utilized by marketers in identify a group of customers who have the same interest in order to serve them adequately (Pride, William and Ferrell, pp, 158-159).

The strategies to maintain the competitive position in the market Term Paper

The strategies to maintain the competitive position in the market place for Massachusetts Mutual Life Insurance Company - Term Paper Example Strengths And Weaknesses Of Organization 10 C.Human Resource 10 1.Personel Policies 10 2.Skills Required To Accomplish The Mission 11 3.Attitude Towards Employees 11 4. Training Programs 12 5. Incentives And Job Enrichment 12 D. Financing 13 1. Types Of Securities Sold To Public And Its Listing 13 2. Current Performance 13 3. Profit And Loss Of The Company 14 4. Rating by Moody’s and Standard and Poor 14 5. Financial New Generated In Past Years 14 E.Corporate Social Responsibility 15 F. Management 15 1. Strength And Weaknesses Of Management 15 2. Business Policies 16 3. Strategies Used 17 4. Statement About Social Responsibility 17 5. Plans For The Future 17 IV.Conclusion 18 A.Evaluation Of The Firm 18 B. Personal Attainment 19 Work Cited 20 I. Introduction A.Name and Location of the Corporation The name of the company in consideration is Massachusetts Mutual Life Insurance Company (MassMutual) which is situated in Springfield. The marketing name that has been offered for Mass achusetts Mutual Life Insurance Company (MassMutual) is MassMutual Financial Group (MassMutual Financial Group, â€Å"2010 Annual Report†). B.Reason for Choosing the Firm The main reason behind the choice of MassMutual is that it is one of the biggest life insurance companies in the world and has been successful at attaining 93rd rank in the Fortune 500 list. It has been noted that the company operates for the benefits and the advantages of the members along with its participating policyholders (MassMutual Financial Group, â€Å"2010 Annual Report†). II.Framework of the Business A.A Condensed History of the Firm It was in the year 1851 when the company commenced its operation in a single room and had a single objective of assisting the people to protect their families as well as their future. After 160 years of operation, the company is still focusing upon its core objective of assisting the people to safeguard their families. The company operates for the advantage of its beneficiaries and is therefore proud of its long history. In the course of time, the company has offered its millions of customers with financial as well as retirement related securities. The company has also been successful at paying its policy holders with dividends since the year of 1860s. By earning financial strength ratings, the company has achieved remarkable position in the particular sector. The company’s trained professionals comprise of thousands of agents situated all over the United States. The main task of the agents is to understand the customers’ financial goals and therefore serve them to formulate their financial strategies accordingly. Although since inception the company’s core product has been life insurance, it has also been offering its customers with numerous other insurance schemes as well as investment products designed for the individuals, businesses and the families. The institutional investors as well as the nonprofit, corporate, governmental and union employees can as well avail the company’s retirement services (Massachusetts Mutual Life Insurance Company, â€Å"Our Company†). B.Incorporation of the firm The company was incorporated in Springfield at Massachusetts in the United States. C. Creators and organizers of the firm The company was incorporated by George W. Rice who had been young insurance representative, selling policies for the company named as Connecticut Mutual Life in Connecticut. His objective was to