Segmentation Concept Essays -- Marketing

Efficient market outline is rarely aimed at a oversized group of customers like each women, all schoolteachers or all beer drinkers, as any of the similar large groups are rather heterogeneous and may vary by age, income, needs, habits and lifestyle (McIntosh, Matthews, Mullineux, & Medland, 2010). As it is also impossible to reach each customer destiny or expectations, some distinct groups of consumers who will respond to a definite marketing mix in the same or similar expression segments are to be identified.Segmentation is a process and result of speciality of the consumers population to certain groups by number of geographic, demographic, age, economic, social and other characteristics in respect of a particular product (Sarvary, & Elberse, 2005). Global marketing introduces a better segmentation practice than just the borders between the countries. By impelling application, segmentation provides global marketers with the opportunity to benefit from global standardiza tion (like, economies of case and positioning consistency) and at the same time meet the expectations and demand of the take aim group. This approach allows assessing the markets on a global or regional scale, overcoming limitations of the governmental boundaries that are usually used to define the market. After identifying the market segments it is incumbent to assess their attractiveness by considering segment capacity, accessibility, prospective, profitability, competitiveness, compliance to companys corporate strategy, objectives and culture, etc. Targeting is another essential tool of effective marketing strategy as it is a choice of the segment which best fits the parameters of potential difference customer of the product and further orientation at this segment b... ...362/146934709X467794 Tamames, R. (2000). terra firma Economic and Environmental Order. United Nations, UNESCO, Eolss forerunner volume. Retrieved on March 27 from http//www.eumed.net/cursecon/textos/Tamam es-Env_Order.pdf Walker, C. (2010). GenWorld The New Generation of Global Youth. Retrieved from Energy BBDO on March 27. http//www.energybbdo.com/uploads/GenWorld%20Overview.pdf Westjohn, S., Singh, N., & Magnusson, P. (2012). responsiveness to Global and Local Consumer Culture Positioning A Personality and joint Identity Perspective. Journal Of International Marketing, 20(1), 58-73. Retrieved on March 27. doi10.1509/jim.10.0154 http//search.ebscohost.com/login.aspx? result=true&db=bth&AN=72034120&site=ehost-liveYankelovich, D., & Meer, D. (2006). Rediscovering Market Segmentation. Harvard Business Review, 84(2), 122-131. SMC Learning Resources.