Market segmentation strategy is the evolving issue when it comes to promotion of products and services within different niche. The aim of this is to generate more sales by letting the customer know of their availability and sustaining sales where the products have already been established. Other reasons may be to wade off competition from emerging business entities. Generally, this is a process of breaking down entire market place into portions that are easily served depending on their needs and wants.
These segments are usually with similar characteristics. The people in the respective divisions do have similar needs and wants when it comes to the use of certain commodities produced or services being rendered. Carrying out this process is beneficial because a marketer needs to understand the behavior of their customers thus, finding better ways of fulfilling their wants.
Most times, producers find this target a hard one to achieve. When grouping them into different units, the work of ensuring that they uphold standards in production turns out to be the driving factor to ensure that everything is upheld to the benefit of the clients. The five ways of subdivision include benefit, geographical, demographic, psycho-graphic and behavioral.
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 is all about the location of consumers. A country or even the whole world is the central target market. Devising sub divisions is anchored on aspects such as states, neighborhood, climate and age wise population. This helps a marketer to determine what will sell best in a given location than the other. A good example is the variation in weather conditions in that warm clothes will sell more in cold areas as compared to hot ones.
As for the demographic aspect, it is all about the composition of the population. This involves analyzing areas in terms of gender, age, nationality, family dimension, profession, socioeconomic status, customs, income, education, belief and language spoken. These clearly outline the respective niche to target when it comes to mass marketing or specific target of the customers.
On the issue of behavior, subdivisions are created basing on the needs of consumers, how they react or purchase the given commodities. Here, cases of brand loyal are highly enhanced in order to maintain the sales of the given product. Other determining factors are in this category are commodity first buyers or regulars and buying extent for different clients. All these are linked to their state of economy for every household.
Psycho-graphic is the final market segmentation strategy. This one tends to answer the question on why people are buying the commodity. The lifestyle of the customers is weighed basing on their translation on consumption rate and purchases of the goods.
These segments are usually with similar characteristics. The people in the respective divisions do have similar needs and wants when it comes to the use of certain commodities produced or services being rendered. Carrying out this process is beneficial because a marketer needs to understand the behavior of their customers thus, finding better ways of fulfilling their wants.
Most times, producers find this target a hard one to achieve. When grouping them into different units, the work of ensuring that they uphold standards in production turns out to be the driving factor to ensure that everything is upheld to the benefit of the clients. The five ways of subdivision include benefit, geographical, demographic, psycho-graphic and behavioral.
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 is all about the location of consumers. A country or even the whole world is the central target market. Devising sub divisions is anchored on aspects such as states, neighborhood, climate and age wise population. This helps a marketer to determine what will sell best in a given location than the other. A good example is the variation in weather conditions in that warm clothes will sell more in cold areas as compared to hot ones.
As for the demographic aspect, it is all about the composition of the population. This involves analyzing areas in terms of gender, age, nationality, family dimension, profession, socioeconomic status, customs, income, education, belief and language spoken. These clearly outline the respective niche to target when it comes to mass marketing or specific target of the customers.
On the issue of behavior, subdivisions are created basing on the needs of consumers, how they react or purchase the given commodities. Here, cases of brand loyal are highly enhanced in order to maintain the sales of the given product. Other determining factors are in this category are commodity first buyers or regulars and buying extent for different clients. All these are linked to their state of economy for every household.
Psycho-graphic is the final market segmentation strategy. This one tends to answer the question on why people are buying the commodity. The lifestyle of the customers is weighed basing on their translation on consumption rate and purchases of the goods.
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