Marketing Mangement 3 - Essay Example

The most effective market segmentation variables for the firm to segment its products are: Low-Income Group: These people will adopt the product as aneed. As their income is low they will be willing to see how to feed their families at a low cost. This book may be effectively targeted to them by publishing a low price edition for these types of customers. This will help the firm to maximize its revenue by selling their products to the group which wants to buy the product. This segment can be effective reached through mass advertising as these people don't usually have time to read books nor the income the income to buy expensive magazines.

Habitual: This book can be sold to people who like reading about their hobbies, that is cooking and gardening. For this segment, the book can be sold at original price with little more gardening or cooking tips added, so that these people won't think about buying the low price edition of the product. This segment can be effective reached by through advertising on TV channels which caters to the needs of these types of individuals, magazines or any other means which may reach them.Geographic: This book will be more effective for people living in these geographical areas where natural factors are conducive for farming or gardening.

These people can be effectively reached by holding certain PR activities where they are told that their land is quite fertile and the book may help them well.Unemployed: This book will touch the aspirations of unemployed people as they have limited income to feed their family. This book will guide them of the techniques of feeding their families on low income and they will be attracted towards the book. This segment can be effectively reached by advertising in job search centers, job search magazine etc.