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).
How to Create a Market Segmentation Strategy. Now, you know what market segmentation is, why it’s important, and the four types of market segmentation. It’s time to put this information into practice. Use the following market segmentation process to learn about your audience and find new marketing and product opportunities. 1.
Marketing segmentation is a process of dividing a market into a meaningful relatively similar and identifiable segment of groups. There are three basic market segmentation which are geographic segmentation, demographic segmentation and Physiographic segmentation.
Market segmentation splits up a market into different types (segments) to enable a business to better target its products to the relevant customers. Check out our A Level Business Revision Topic Playlist Segments are usually measured in terms of sales value or volume. In the diagram below, segment B is twice the size of segment C.
Marketing Segmentation Variables. Through this module, you entertain scholarly encircling the STP order, in 2-3 pages, dedicate that concept to the effect you correctiond in the email hostilities. Segmentation: Describe how you may class feasible customers through the segmentation variables that dedicate to your feasible target markets.
The Effective Market Segmentation Marketing Essay. Kotler (2000) mentions five criteria for an effective segmentation: Measurable: It has to be probable to establish the values of the variables used for segmentation with acceptable efforts. This is important particularly for demographic and geographic variables.
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.
Market segmentation is a strategy that involves dividing a larger market into distinct groups of buyers with “different needs, characteristics or behaviour” (Kotler at al. 2009, 228). These subgroups of consumers may be divided into: Demographic segmentation, which divides the market into group based on age, gender, income or occupation.