Market Segmentation - Essay Example

Only on StudentShare

Extract of sample
Market Segmentation

Lastly, the company seeks for a unique marketing segment that is not being practised by their competitors. This plays a big role in enabling companies to achieve a high market share, thus generating a comfort factor since the buyers will see it as a market leader. Through this, most business entities are able to better their competitive positions and satisfy their customer needs (Burrows, 2010). For an adequate marketing strategy to take place, a manager has to determine and identify the boundaries within the market and with the help of a business plan, develop a clear definition of a business to be in operation. Then, the manager should get enough knowledge and all the relevant information about the goods and services provided by the competitors in relation to the basic requirements of the customers in the market. The company, therefore, would determine the methodology and variables to use in dividing its market into subsets. Research tools are introduced in the process of collecting and analysing data with the purposes of identifying a homogenous segment which, at the same time, is heterogeneous to the other segments. Basing on the consumers’ behaviour, a company selects the variables that will assist it in creating a detailed profile of each distinct segment (Burrows, 2010). ...Show more

Summary

Market Segmentation Name: Professor: Institution: Introduction Market segmentation is a general term used in business to refer to a process of subdividing a market, which is homogeneous, into identifiable sets or segments characterised by similar needs and wants…
Author : keven96
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Market Segmentation"
with a personal 20% discount.
Grab the best paper

Related Essays

Market Segmentation in Apple
This proposal also encompasses the ethical statements that will be followed in the research, along with a Gantt chart which specifies the research methods and time frame. It is very important to study the market segmentation of Apple because they have a wide variety of products.
4 pages (1000 words) Dissertation
Marketing Plan on Counterfeit Protection Company
The study tries to identify the influence of the overall activities and the manner in which they are being controlled by the organisation. The executives of the organisation try to eradicate irrelevant cost for the company and to prepare adequate marketing policies so that the services being provided by the company are generated according to the needs of the market.
11 pages (2750 words) Essay
Foreign Market Entry Plan.
Audit of the Foreign Market’s Environment. The market environment in Hong Kong can be analyzed using PESTEL analysis to describe the various macro-economical factors influencing and impacting upon the business environment. Firms get widely affected by the external environmental factors acting on them which consequently influence their business directions and strategies.
11 pages (2750 words) Essay
Market Segmentation
[Professor’s Name] [Writer’s Name] [Course Title] [Date] Market Segmentation The market consists of different types of consumes that have a variety of needs and various types of products (Kotler, pp.44). The market further divides itself into different types of consumers, further divided into subgroups and segments.
5 pages (1250 words) Essay
Criteria for Market Segmentation
It is the most popular method because of the easy availability and interpretation of the data. Most of the consumer markets can be divided on the basis of demographics but it is also one of the deciding forces behind the purchase behavior of the consumer as well.
6 pages (1500 words) Term Paper
Market Segmentation Essay
Some firms attract their customers through cost-effectiveness or price differentiation, while others aim to grasp their market through providing a unique product/service. While the strategies of firms may differ, the target group that firms are aiming to attract may be similar (Greenberg and McDonald, 1989, pp.
6 pages (1500 words) Essay
The Importance of Market Segmentation
Essentially, the segment market has already “told” the company what it wants to purchase. Segmentation marketing means targeting your advertising and marketing programs directly at the specific segment. Why not just generally advertise to the whole market and hope to get even more sales that way?
6 pages (1500 words) Essay
Market segmentation
The criteria are depended deeply on the aspects like age, gender, race and ethnicity. Thus, the marketing campaigns are devised in such a way as to make sure that the specific customer segments are ably met, whilst addressing their needs, wants and desires, which indeed are seen as common.
7 pages (1750 words) Essay
Market Segmentation of Orbitz
Market Segmentation of Orbitz Table of Contents Task 1 4 Introduction 4 Market Segmentation 4 Targeting Strategy 9 Mass Targeting Strategy for Orbitz 9 Market Positioning Strategy 10 Task 2 11 Organizational Markets & Consumer Markets in Travel Industry 11 Marketing Mix: Tactical Marketing Strategy 14 Product Mix 15 New Product Development 17 Product Life Cycle 19 Task 3 21 Market Entry Modes 21 Marketing Mix for Consumer Markets 23 Reference List 26 Task 1 Introduction Orbitz is one of the leading travel companies which was formed by an alliance between major airline companies; American, Continental and Delta Airline, Northwest, United Airline and Continental Airline companies in the year 19
19 pages (4750 words) Essay
Video Analysis 4
However, the company undertook businesses in telecommunication through the prologue of a digital telephone swap over switch in 1960’s. The company sustained with its activities within telecommunication sector directing to development of a transport, and hand
1 pages (250 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT