Segmentation Concept Essays -- Marketing

Efficient market strategy is rarely aimed at a large group of customers bid all women, all schoolteachers or all beer drinkers, as any of the similar large groups are rather heterogeneous and may vary by age, income, needs, habits and modus vivendi (McIntosh, Matthews, Mullineux, & Medland, 2010). As it is also impossible to reach each customer requirement or expectations, some distinct groups of consumers who will respond to a definite marketing mix in the same or similar way segments are to be identified.Segmentation is a process and result of differentiation of the consumers population to certain groups by number of geographic, demographic, age, economic, social and other characteristics in respect of a particular product (Sarvary, & Elberse, 2005). spheric marketing introduces a better segmentation reading than just the borders between the countries. By rough-and-ready application, segmentation provides global marketers with the opportunity to benefit from global standard ization (like, economies of scale and positioning consistency) and at the same date meet the expectations and demand of the target group. This approach allows assessing the markets on a global or regional scale, overcoming limitations of the political boundaries that are usually used to define the market. by and by identifying the market segments it is necessary to assess their attractiveness by considering segment capacity, accessibility, prospective, profitability, competitiveness, compliance to companys corporate strategy, objectives and culture, etc. Targeting is another essential tool of effective marketing strategy as it is a choice of the segment which best fits the parameters of potential customer of the product and further orientation at this segment b... ...362/146934709X467794 Tamames, R. (2000). demesne Economic and Environmental Order. United Nations, UNESCO, Eolss forerunner volume. Retrieved on March 27 from http//www.eumed.net/cursecon/textos/Tamames-Env_Order.pd f Walker, C. (2010). GenWorld The New Generation of Global Youth. Retrieved from Energy BBDO on March 27. http//www.energybbdo.com/uploads/GenWorld%20Overview.pdf Westjohn, S., Singh, N., & Magnusson, P. (2012). Responsiveness to Global and Local Consumer Culture Positioning A Personality and Collective Identity Perspective. Journal Of International Marketing, 20(1), 58-73. Retrieved on March 27. doi10.1509/jim.10.0154 http//search.ebscohost.com/login.aspx?direct=true&db=bth&AN=72034120&site=ehost-liveYankelovich, D., & Meer, D. (2006). Rediscovering Market Segmentation. Harvard Business Review, 84(2), 122-131. SMC Learning Resources.