Level of the market segmentation, Marketing Management

Level of the market segmentation

1.       Segment marketing: a market segment consists of a large identifiable group within a market with similar wants, purchasing power, geographical location, buying attitudes, or the buying habits. For needs are not well served. For example an auto company may identify four broad segments: car buyers who are primarily seeking basic transportation or high performance of luxury of safety.

2.       Niche marketing: a niche is a more narrowly defined group, typically a small market whose needs neither are nor well served. Marketers usually identify niches by dividing a segment into sub segments or buy defining a group seeking a distance mix of benefits. For example, the segment of heavy smokers includes those who are trying to stop smoking and those who do not care.

3.       Local marketing: target marketing is leading to marketing programmes being tailored to the needs and wants of the local customer groups (trading areas, neighbourhoods, even individual stores). A city bank provides different mixes services in its branches depending on the neighbourhood's demographics.

4.       Individual marketing: the ultimate level of segmentation leads to "segments of one," "customized marketing", or one to one marketing." For countries consumers were served as individuals: the tailor made the suit and the cobbler designed shoes for the individuals. 

Posted Date: 9/19/2012 4:14:39 AM | Location : United States

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