Saturday, January 11, 2014

What conditions do you feel must be satisfied in order that market segmentation is effective? State the advantages and limitations of market segmentation with particular reference to consumer goods.

What conditions do you feel must be satisfied in say that commercializeplace place divider is effective? estate the advantages and limitations of market atomation with particular reference to consumer goods. Compargon and direct contrast your findings with proposed theories and liberate your conclusions. tradeers recognized long ago that products and services couldnt be every things to every last(predicate) stack. Buyers have diametrical taste, interest, goals, lifestyles, and so on. Among opposite things, the allow for of the marketing concept and the recognition of consumer ask and wants lead marketers to ideate in terms of target marketing. Target markets be groups of people with correspondent wants and take aways. For most companies, selecting target markets is the first tonicity in the marketing strategy. Target marketing clearly requires market segmentation. Thus Market segmentation involves the analysis of the purchases in the market, in particular the purchasing behavior, need patterns, socio-economic status or age. It is a consumer-oriented philosophy. The main object lens here is to divide the market into sector/segments in each(prenominal) of which the customers are of similar nature and are influenced by similar buying motives. For example, the shoe market kitty be divided up into several segments based on the age and sex of the vendee and the function of the shoe purchased. such analysis permits the production of nine-fold similar products with an appeal to a different population group.
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Page 6 Segmentation is important in consumer analysis beca use understanding the consumer will allow us! segment the market more meaningfully. If all consumers were alike, had the same needs and wants, ethnical background, education, experience etc. there would be no need for segmentation as mass-marketing (offering the same marketing commix to all consumers) would be a logical strategy. Thus, segmentation is a result of the marketing-concept being prevailing today. In other words, segmentation implies a consumer-oriented approach... If you want to get a full essay, order it on our website: BestEssayCheap.com

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