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Segmentation and Target Market Paper - Essay Example
Pages 4 (1004 words)
Segmentation within Nike Company Instructor Date Introduction When businesses grow, they intend to expand their service provided to customers in areas within their reach. However, expanding or breaking the business to meet consumers undergoes a number of considerations before it can take effect…
It is the process of splitting customers in a market into different groups (McDonald and Dunbar, 2012). Industries can segment the target market according to either large or small consumer numbers, or their geographic location. A target market refers to a group of organizations or people, for which and industry develops and implements strategic plans so as to meet the group’s needs. The essay that follows discusses on segmentation and target market within the Nike Company. Nike Company is one of the largest athletic sport equipment companies in the world. It was founded by Phil Knight, a former Oregon University coach, and has its headquarter Oregon, Beaverton (Hill and Jones, 2010). It is one of the companies that have had a tremendous growth over the past years. It has segmented markets in different areas, which include Oregon, New Hampshire, Tennessee, Europe and Japan (Porter and Norton, 2013). Its inclusion of services in other areas results from the company’s growth and increased service need in the areas. Market Segmentation in Nike Company Demographic Characteristics This is dividing a company’s service provision according to age, race, gender, and social class, among others (Gitman and McDaniel, 2009). ...
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