Market segmentation, Marketing Management

Assignment Help:

Market Segmentation

Market Segmentation: "Dividing a market into separate groups with different needs, characteristics, or behaviour who may require separate products or marketing mixes". Market segmentation provide a method to segment or divide the market into narrow segments (by using a variety of different meaningful variables-these bases or variables are discussed at length in the chapter) that may be better reached with the resources of the marketer. Market targeting observes each of the designated segment's attractiveness and select one or more that match the objectives of the organization and marketing desires. Several coverage strategies are described and detailed.

The concept of market positioning arranges for a manufacture to occupy a visible, distinctive, and desirable place related to competition. Many methods for achieving important differentiation are illustrated and explained. The above described three steps aid the marketer in arranging the company's marketing mix effectively so that the likelihood of consumer response and competitive benefit is maximized by the organization.

Segmentation Variables

  1.   Demographic segmentation
  2.   Geographical segmentation
  3.   Behavioural segmentation
  4.   Psychographic segmentation

Requirements for Effective Segmentation


1963_effective segentation.png


Related Discussions:- Market segmentation

What are the disadvantages of joint ventures, What are the disadvantages of...

What are the disadvantages of joint ventures? Joint ventures also have disadvantages, which are given below: • Partners do not consist of full control of management • May

Marketing as a part of total environment, Illustrates the total environment...

Illustrates the total environment in marketing? Marketing is a part of total environment: Total environment may be explained as the combination of all the resources and In

Utility of the product life cycle, Utility of the product life cycle 1...

Utility of the product life cycle 1.       As forecasting tool: the study of product life cycle is an important tool for sales forecasting its study foretells that problems a

Describe total relationship marketing, Question: a) What is loyalty in...

Question: a) What is loyalty in a service context and how can firms benefit from a price premium with loyal customers? b) Describe total relationship marketing. How would y

Undifferentiated approach for selecting target market, What is undifferenti...

What is undifferentiated approach for selecting target markets? Undifferentiated Approach: In total market or undifferentiated approach, a company develops a particular

Marketing and customer value, MARKETING AND CUSTOMER VALUE Creating and...

MARKETING AND CUSTOMER VALUE Creating and delivering better customer value is the only route by which firms implement the marketing concept. Customer satisfaction is the centra

Component of modern concept of the marketing, Component of modern concept o...

Component of modern concept of the marketing: 1.      Customer oriented: the very first and the most important base of modern concept of marketing is that it is a customer

Factors contributing to new product development, Factors contributing to ne...

Factors contributing to new product development: Several factors contribute to the new product development, while most are related to the external environment variables, the

Difference between efficiency and effectiveness, Question: (a) Conside...

Question: (a) Considering the Three Era model, differentiate between data processing (DP), management information systems (MIS) and strategic information systems (SIS). (b)

Profit/loss, #questioahmed buys a plot of land for Rs.96000.He sells 2/5 of...

#questioahmed buys a plot of land for Rs.96000.He sells 2/5 of it at a loss of 6%. At What gain percentpercent should be sell the remaining part of the plot to gain 10% on the who

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd