Segmentation - Term Paper Example

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Segmentation

Segments are the portions attained after considering the various variables that include age, gender, and societal class in terms of income generation, attitudes, and opinions. Other factors include their interests, physique, and their knowledge status among many others. Segmentation is part of the many tools and theories in the marketing world (Wedel and Kamakura 69). For instance, the manufacturing of the products is within the target needs of a specific part of a population. This paper will seek to expound on the various steps involved in analyzing of the same. The other objectives of this paper shall include in-depth market analysis of a product of choice in line with segmentation, the various segmentation variables, and how they influence the marketing and selling of the identified product. In addition, it will give a detailed analysis of the existing market segments carefully depicting the underutilized variables in improving the marketing and distribution of the chosen product. Predominantly, there are two classes of variables, which influence the use of segmentation in a target market. The first factor is needs, which essentially is what an individual cannot do without. Mostly, wants take the place of needs as is in many instances individuals confuse their urgency and importance. ...Show more

Summary

Marketing Segmentation With the current growth of technology, marketing has taken a different perspective in respect to technology. Many organizations have failed to realize effective marketing due to lack of technology and proper research…
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