Marketing criteria for products and services has been taken to a new level. This is for the business entity to remain in operation and eliminate stiff competition from its competitors. Most of them tend to use the criteria of market segmentation strategy. This is a technique of subdividing the selling place into different sections usually known as segments. What a marketer needs to know is the best criteria to carry out this process.
The features of these segments are usually similar and clearly distinguished from one another. This is because those people falling in the same unit have similar needs and wants in terms of consumption of products and utilization of services rendered which are clearly different from those of another part. With the use of this technique, it becomes easy for the marketer to determine on how best to ensure all these clients are satisfied as far as their wants and needs are concerned.
Although it is not easy to satisfy each and every needs of an individual, segmentation strategies will assist to take care of groups of people which will eventually make sense to production in mass and distribution. In order to understand, this article will analyze five main ways of carrying out this process in ensuring that satisfaction is achieved. These include benefit, geographic, demographic, psycho-graphic and behavioral subdivisions.
The benefit technique comes into play through the analysis of pleasure and satisfaction clients derive from given commodities. That is to say, it is what the client values in any given product. With this platform, it is possible to set aside such areas that require specific target products since the client is the determining factor.
Geographical approach is the subdivision of the entire market structure on the basis of locality. The entire world for international operators or country for national operators, are taken as wholesome. Strategies to assist under this platform are neighborhoods, weather and even age wise population. It can be established that a product for a given area will perform poorly in terms of sales in the other area. A viable example of this is anchored on variations in the weather conditions of different places.
Demographic division is widely refers to a broad study of possible clients. Here, issues of gender, age, nationality, family size, occupation, socioeconomic status, culture, income, education, religion and language spoken are taken into consideration. This classification is purely to determine whether mass marketing can be carried out or a company has to target specific clientele in the promotion process.
Behavioral sub division is another way of dividing the entire markets into portions. This one bases its criteria on what consumer needs and their reaction to them or purchase of the commodities. It is under this technique that issues of brand loyalty to specific brands, things responsible for purchase, cases of regular customers or first timers and readiness in buying have linkages to his or her socioeconomic status.
The concluding element of market segmentation strategy is psycho-graphic. It gives answers on why people tend to purchase given products as compared to the others. This is where a question of lifestyle, personality and valuable variables come into picture. Lifestyle of consumers points out the direct interest in products and services; personality matches categories of products the consumers favor and values have been known to operate concurrently with lifestyle. With this technique, the results are bound to be achieved easily.
The features of these segments are usually similar and clearly distinguished from one another. This is because those people falling in the same unit have similar needs and wants in terms of consumption of products and utilization of services rendered which are clearly different from those of another part. With the use of this technique, it becomes easy for the marketer to determine on how best to ensure all these clients are satisfied as far as their wants and needs are concerned.
Although it is not easy to satisfy each and every needs of an individual, segmentation strategies will assist to take care of groups of people which will eventually make sense to production in mass and distribution. In order to understand, this article will analyze five main ways of carrying out this process in ensuring that satisfaction is achieved. These include benefit, geographic, demographic, psycho-graphic and behavioral subdivisions.
The benefit technique comes into play through the analysis of pleasure and satisfaction clients derive from given commodities. That is to say, it is what the client values in any given product. With this platform, it is possible to set aside such areas that require specific target products since the client is the determining factor.
Geographical approach is the subdivision of the entire market structure on the basis of locality. The entire world for international operators or country for national operators, are taken as wholesome. Strategies to assist under this platform are neighborhoods, weather and even age wise population. It can be established that a product for a given area will perform poorly in terms of sales in the other area. A viable example of this is anchored on variations in the weather conditions of different places.
Demographic division is widely refers to a broad study of possible clients. Here, issues of gender, age, nationality, family size, occupation, socioeconomic status, culture, income, education, religion and language spoken are taken into consideration. This classification is purely to determine whether mass marketing can be carried out or a company has to target specific clientele in the promotion process.
Behavioral sub division is another way of dividing the entire markets into portions. This one bases its criteria on what consumer needs and their reaction to them or purchase of the commodities. It is under this technique that issues of brand loyalty to specific brands, things responsible for purchase, cases of regular customers or first timers and readiness in buying have linkages to his or her socioeconomic status.
The concluding element of market segmentation strategy is psycho-graphic. It gives answers on why people tend to purchase given products as compared to the others. This is where a question of lifestyle, personality and valuable variables come into picture. Lifestyle of consumers points out the direct interest in products and services; personality matches categories of products the consumers favor and values have been known to operate concurrently with lifestyle. With this technique, the results are bound to be achieved easily.
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