Introduction to market segmentation, Marketing Management

Market segmentation

Concept and definition: the concept of the market segment is based on the fact that the markets of the commodities are not homogenous but they are heterogeneous. Market represents a group of customers having common charactistics but two customers are never common in their nature, habits, hobbies, income and purchasing technique. They differ in their behaviour and buying decisions. On the basis of these characteristics customers having simple qualities are grouped in a segment.

 According to the Philip Kotler, "market segmentation is sub- dividing a market into distinct and homogenous subgroups of the customers, where any group can conceivably be selected as a target market to be met with distinct marketing mix".

 According to the William J. Stanton, "market segmentation consists of taking the total heterogeneous market for a product and dividing it into several sub market of segments, each of which tends to be homogenous in the full significant aspects".

According to the R.S. Davas, "grouping of buyers or segmenting the market is described as market segmentation". The main aim of the market segmentation is to prepare separate programmes or strategies to all segments so that maximum satisfaction to the consumers of different segments may be provided. In the words of Philip Kotler "the purpose of the market segmentation is to determine difference among them or marketing to them".

Posted Date: 9/19/2012 4:13:26 AM | Location : United States







Related Discussions:- Introduction to market segmentation, Assignment Help, Ask Question on Introduction to market segmentation, Get Answer, Expert's Help, Introduction to market segmentation Discussions

Write discussion on Introduction to market segmentation
Your posts are moderated
Related Questions
Marketing planning: Meaning and definition: marketing planning is a part of the process of overall planning of a business and industrial enterprise. Marketing planning includ

2types of competitors strategic and distinct competitors and also identify you strategic competitor and also identify strength and weaknesses of strategic competitor.

Communication Differences Having identified need to communicate with several different audiences, it seems appropriate to conclude this opening module by examining differences

How is penetration pricing strategy give cost advantage over innovating firm? In the case to outlook penetration pricing strategy is more commercial than financial. It is more

1.  How important do you feel the following attributes are for a bakery 1: Very Important       5: Not important at all Variety of Products                1 2 3 4 5

What are the several advantages of Business to Business? Some of the advantages of Business to Business are: a. Enhanced customer satisfaction b. Enhanced inventory syste

Answer for a caselet

What are the factors to determine the consumer behaviour? Consumer Buying Dynamic or Determinants of Consumer Behaviour: There are four factors which determine the consum

Give a success story of marketing a goods in which a supplier has been dependable.

Question 1 (a) Define Business Ethics. (b) Critically explain how Business Ethical considerations will help in the Marketing Communication of a product or service. Suppor