1 Digor

Essay Market Segmentation

Essay about Market Segmentation

1770 Words8 Pages

Segmenation Market Segmentation

Market segmentation is the division of a market into distinct groups of buyers who might require different products or marketing mixes (Kotler et al, 1994). It is the division of a heterogeneous market consisting of buyers with different needs and wants, into homogeneous segments of buyers with similar needs and wants. Therefore, the segments are heterogeneous between (ie. all the segments are different, eg. one segment all males, one segment all females) themselves, but homogeneous within (eg. within the male segment, all buyers are male; within the female segment, all buyers are female).
Segmentation is important as buyers have unique needs and wants. In segmenting a market, marketers look…show more content…

Within behaviour segmentation, of particular importance is a powerful form of segmentation, benefit segmentation, which groups buyers depending on the various benefits sought by buyers from the product class. For example, you could segment the cereal market based on the benefits sought by cereal buyers: brand (eg. Kellogg's), nutrition and health (eg. Sultana bran), diet (eg. Special K), taste (eg. Cocopops for kids), price (eg. Kellogg's cornflakes), etc. Notice how each segment has particular products or brand which caters for the needs of that particular segment? Bases for Segmenting Industrial Markets
Many of the variables used in segmenting consumer markets can be applied to the segmentation of industrial markets.

Requirements for Effective Segmentation

Useful market segments must demonstrate the following characteristics:

The size and purchasing power of the segments must be measurable. It must be possible to reach and serve the segment. The segments must be large or profitable enough. The segments must be suitable for the design of effective marketing mix programs. Target Marketing

Market segmentation conducted by the company would reveal the various segments the company's market consists of. The company now has to select which segment(s) it wishes to target.

Evaluating Market Segments

The first step in

Show More

Market Segmentation: Essay

831 Words4 Pages

Market can divide in to 3 such as individuals, families and tourists, individuals mainly businessman and students and workers .laubeck is residential area so there large number family all so. luebeck old historic city there are tremendous flow of tourist all so .families make the majority of business at dinner time . Individuals making up majority business on breakfast lunch time. viyoga is unique vegetarian theme stands in casual niche market in restaurant industry .There are very limited competition in the market against Viyoga because of the uniqueness and differentiation of the product .
Market Segmentation
Market segmentation is process dived market in to different groups of buyers those who has different needs, characteristic,…show more content…

Market can divide in to 3 such as individuals, families and tourists, individuals mainly businessman and students and workers .laubeck is residential area so there large number family all so. luebeck old historic city there are tremendous flow of tourist all so .families make the majority of business at dinner time . Individuals making up majority business on breakfast lunch time. viyoga is unique vegetarian theme stands in casual niche market in restaurant industry .There are very limited competition in the market against Viyoga because of the uniqueness and differentiation of the product .
Market Segmentation
Market segmentation is process dived market in to different groups of buyers those who has different needs, characteristic, behaviour those have required different product. There are four different types of variable use for the segmentation; these are demographic, geographic, psychographic behavioural and variables. Demographic variables are consumers divided in two different segments such as age, material status, family size, income, occupation, education level etc. Second one is geographic, consumers divided into different segments of geographical units such as nation regions, states and cites, etc. third one is psychographic variables consumers divided into different segments based on their lifestyle social classes and personality etc. fourth and last one is behavioural variable which is consumers are divided into different segments based on attitude,

Show More

Leave a Comment

(0 Comments)

Your email address will not be published. Required fields are marked *