Market segmentation, targeting& positioning Essay Sample Market segmentation, targeting and positioning are very important terms in marketing. To discuss about market segmentation, targeting, positioning, first of all we need to know about market and marketing Market: Market is combination of actual and potential buyers of a Concept Of Market Segmentation Marketing Essay. The marketing theory demonstrate that to develop a successful marketing strategy correctly, service marketers must develop segmentation strategies based on the attributes and behaviour patterns of target customers.
These attributes would be related to the use of the service. Market segmentation is the division of a market into distinct groups of buyers who might require different products or marketing mixes (Kotler et al, 1994). It is the division of a heterogeneous market consisting of buyers with different needs and wants, into homogeneous segments of buyers with similar needs and wants.
Market segmentation describes the division of a market into homogenous groups which will respond differently to promotions, communications, advertising and other marketing mix variable (Cumming). Market segmentation is extremely important for companies around the world. Market segmentation is the technique used to enable a business to better target it products at the right customers.
We will write a custom essay sample on Market Segmentation A market segmentation theory is a modern theory that tries to explain the relation of yield of a debt instrument with its maturity period. This theory brings together potential buyers into segments with common needs, that will respond to a marketing action.
Market Segmenting Essay Sample Market segmenting is the process of dividing the market into dissimilar, distinctive groups of people who have similar needs to be satisfied, alike wants and behavior, or who might want same products& services. Market Segmentation, Targeting and Positioning essay The basis for the segmentation is the social background of customers since the product, snackfood, is oriented on the lower and middleclass customers, who lead an active lifestyle and have little, if any, time to cook food or to dine in conventional restaurants.
Target marketing includes the activity of market segmentation, which allows companies and corporations to zoom in on specific customer behaviors and analyze segments that have certain needs. Companies and corporations tend to create different types of marketing strategies associated with that market segment in accordance with a How can the answer be improved?
Geographic segmentation is used when a product satisfies a customers want or need that is specific to a region. Tesla can use a geographic segmentation because gas prices vary by region and Tesla can focus its marketing to those consumers that live in areas with high has prices.