Segmentation Targeting Positioning - Essay Example

Targeting Market A company should consider that it is challenging to meet the needs of every customer. Therefore, it should fashion a product that may partly cover the needs of the customers if not all. It is somehow dodgy because many customers prefer goods or services that cover their needs wholly (Kotler, 2010). This might result in poor sales of goods or services. Targeting markets is significant because the company is able to identify the information it had missed about the product. Through this, the company is able to identify would-be customers who would buy the product.

The company is able to realize areas to improve on to realize more profit. Product positioning According to Nykiel (2007), a company should guarantee that its product is distributed to places that it can endure competition. This can be achieved through intense thoughtfulness of the customers’ preferences. A company should consider that customers are influenced by different factors. There are those who are focused on taste and lifestyle while others observe their religious inclination.

It is therefore indispensable for a company to choose places that will favor their products in terms of customers needs (Capon, 2009). Conclusion For any company to survive antagonism in the market, it should consider apposite segmentation. This will guarantee that the company target all potential customers and maximize its proceeds. Although it is not possible to gather all the needs of every purchaser, the company should surface with strategies that will gratify the needs of every customer partly, if not wholly.