StudentShare solutions
Triangle menu

Market segmentation (finance) - Essay Example

Nobody downloaded yet

Extract of sample
Market segmentation (finance)

Given the analogy of a layer cake, product differentiation seeks to secure a layer of the cake, whereas segmentation seeks a wedge. Successful product development requires the utilization of both product differentiation and market segmentation. The former strategy adjusts or bends demand conditions to meet the sellers conditions. The latter represents a more precise adjustment of products and production to market conditions (Weinstein 32).
Market segmentation often results from substantial growth. After markets are developed on some general basis, they reach the point where additional effort tends to yield diminishing returns, and attention is given to specific market segments that become large enough to be attractive. By cultivating specific market segments, companies seek to make use of a greater opportunity to maximize customer satisfactions. This maximization, in turn, results in the development of a more secure market position and posture. As products are designed to serve the needs of individual customers, they assume a special character and increase their distinctiveness. The closer the product is to the point of customer purchase, the more differentiated it becomes, and less flexibility is available to the manufacturer. For some products, the demand of an individual customer may be unique, and the product takes on rigidity (Weinstein 76).
For instance, Adidas segments its market for sport professionals and non-professionals, women, men and children. Where possible, manufacturers would like to reduce risks by postponing differentiation as long as possible, and only incurring changes in form and product identity at the latest possible point in the flow of marketing. Because of this, particular attention is given to a discussion of new products, their adoption and diffusion processes, the product life cycle, and new-product failures. There are other significant demographic factors that affect consumption patterns. For example, if ...Show more

Summary

Market segmentation is one of the main concepts used by marketing companies to divide the market between particular target groups and meet needs and wants of target customers. Divergent product policies adjust product lines to individual market segments - they implement market…
Author : effertzisom
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Market segmentation (finance)"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Marketing Questions
YouTube) as this practice would assist her to share product information more effectively. In addition to publishing pictures of products, she may take photos at store events to spread the company culture. It is also recommendable for the marketer to integrate Facebook page or Blog URL into offline ads; this strategy may assist the marketer to invite people attention to her (or company’s) communities and thereby increase brand loyalty.
3 pages (750 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
Market Segmentation
This is where the diversity of demand brought by any business entity into the marketplace are properly understood and characterised. It is developed by identifying a given number of identical market segments which are of a justifiable size, can be distinguished, customer oriented, profitable and can be easily accessed, and then selects a target group(s) for its marketing operations.
3 pages (750 words) Essay
Market Segmentation
According to Weinstein (2004), market segmentation usually aims at availing products and services to consumers who are more likely to purchase those goods and services. From a theoretical perspective, marketing conducted by business organization entails employment of appropriate marketing mix within consumer environments.
5 pages (1250 words) Essay
Strategic Management market segmentation
If we are able to identify a segment that is not catered to by any of the competing products, then that market segment is a niche segment for the specific for product line. 1. Selection of the type of research. Qualitative or Quantitative; what kind of data is going to be collected and the nature of analysis that will be performed on the data and the target that we need to achieve by doing this exercise.
6 pages (1500 words) Essay
Market Segmentation
This report is based on the analysis of market segmentation, application of marketing mixes and the final assessment of the two new products launched by EKON. EKON is a UK based company and known for its excel in furniture. Sofas, dining furniture, office chairs and desks are some of their popular products that they supply through their high street stores.
9 pages (2250 words) Essay
Market Segmentation
Demographic: Oral-B is segmented demographically as it has products for children; moreover, the kid’s brushes are also divided into four groups, depending upon the age – from four months of age to children who are above eight years of age. There are cartoon
2 pages (500 words) Essay
Consumer behavior & Market Segmentation
nds upon the type of purchase; if the purchase is limited the decision will take less time and effort and the opposite is true for extensive purchases whereas for routine purchases consumers just go and fetch the product of their favorite brand. According to Jack (129) consumer
2 pages (500 words) Essay
Market Segmentation
Backpackers usually carry each and every thing that they may require in the route of their travel. The transportation that they use is usually public transport and for living in case of harsh weather they use hostels,
2 pages (500 words) Essay
Marketing strategy
mentation can prove to be quite fruitful in nature and the cost attached to this procedure is quite high because a lot of market research is involved. With the assistance of market segmentation, businesses can design and create goods and services that appeal to a small portion
8 pages (2000 words) Essay
Hire a pro to write
a paper 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
Comments (0)
Click to create a comment
Contact Us