“An example of one product and multiple segments would be Apple’s iPod which was produced and targeted towards different demographic segments including male and females, different age levels and different income levels” (Elements of a Successful Business Plan: Market Segmentation n.d., p. 5).
2. Aim of the Research
The aim of the research is to:
Investigate the marketing segmentation strategies in Apple (UK). “Market segmentation is important as it helps the firms to get customer focused” (Saxena 2009, p. 212). It is necessary to investigate the market segmentation strategies of a firm in order to understand its market strategies and to strengthen its products in the market.
3. Literature Review:
Market segmentation is a strategy in marketing and economics. “Apple exemplifies the marketing concept in every aspect of its business” (Boone & Kurtz p. 11). Market segment is a division of a market made up of organizations or people with one or more features that reason them to demand similar product and services based on character of those products such as functions or price. “Demographic differences have been widely used as bases for segmenting consumer markets” (Croft 1994, p. 24).
According to Michael J Baker and Michael Saren in their book, “Marketing Theory: A Student Text,” market segmentation is essential to strategic marketing. Segmentation outcome is an improved, developed consideration of consumer’s behaviors, similarities and differences, and so directs the growth of marketing programmes and propositions. ...Show more