Foundations of Marketing

Masters
Essay
Business
Pages 5 (1255 words)
Download 0
With the ever-intensifying competition in the market, businessmen realised the need to segment the market and use the marketing mix to effectively sell their products. Market segmentation provides them focus in intensifying their marketing campaign to their key buyers. …

Introduction

There are still visible disadvantages of marketing segmentation. One of these is the possibility of inflexibility with regards to the variations in the market. Even a minimal shift in the number of population or preferences of customers can create marketing problems, which if not addressed immediately can immensely affect the company’s marketing campaign. Another problem of concentrating marketing activities in a single market segment is its difficulty in market expansion. There is a tendency for the firm to be stuck in a single consumer base, which can entail vulnerability to profit loss, especially in the currently dynamic business environment. In short, mass marketing minimises a company’s susceptibility to inflexibility to the ever-changing market. However, the present marketing campaigns of multinationals which are likely to perform this method because of its capitalization on the benefits of economies of scale, involve the localisation and segmentation of their marketing campaign in a particular country. Flexibility and adaptability to the changes in the business environment is then the key for a sustainable marketing success.
...
Download paper
Not exactly what you need?

Related papers

Foundations of Marketing Theory
This makes knowing and nurturing relationships with existing customers even more valuable. However, the struggle is when a brand wants to expand its image and market. Cotton On is in that crossroad. It grew it business catering to the simple and relaxed 20 something market. However, the entrance of smaller companies that offer the same diversity in design and high class quality is forcing to…
Elective Module Title: Strategic Human Resource Management. Performance-Related Pay Systems
Performance-related pay is a system in which the company attempts to align the interests of the employees with the interests of the business, by providing employees with incentives to work hard. The exact form of the system differs substantially between different companies, with some offering commission-based pay, some paying employees a certain rate per unit produced and others paying based on…
MODULE TITLE: - International Business (IB) PROGRAMME: BA SEMESTER: Semester Four ACADEMIC YEAR PERIOD: Feb.2013-May 2013
41) Starbucks has laid significant emphasis on consistency of product, atmosphere and services across their stores globally. In other words a customer can visit any Starbucks store in the world and essentially get the same products, atmosphere and be able to buy coffee to their exact preferences. In order to ensure such a high degree of consistency, Starbucks employees including managers undergo…
Operations Management
Operations Management …
Marketing Foundations and Applications
New product development often entails modifying an existing product or creating totally different offerings to satisfy a current need. In these product developments, business organizations may encounter hardships in identifying features which adds value to the customer. There are cases when current products cannot be enhanced because of shortage of ideas that can improve the offering. A good…
Foundations of Marketing
There are still visible disadvantages of marketing segmentation. One of these is the possibility of inflexibility with regards to the variations in the market. Even a minimal shift in the number of population or preferences of customers can create marketing problems, which if not addressed immediately can immensely affect the company’s marketing campaign. Another problem of concentrating…
Module name:INTERNATIONAL MARKETING STRATEGY
The Company established the shops with the same design and undertaken research and development activities in order to analyze the consumer preferences regarding the brand. As a result of the surveys conducted the company found the brand name as the major asset of the company, which could prove to be the main source of competitive advantage of the company.…