EOMAM - Market Segmentation Market segmentation involves...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Market Segmentation Market segmentation involves identifying customers with common characteristics and needs. Whether individual consumers or other firms, collections of customers comprise markets. A collection of markets is said to comprise an industry. In manufacturing, examples include the automotive industry, which could be defined to consist of the new and used car markets as well as the after-market for replacement parts. Markets may be further subdivided by examining cars by makes and model years. The automotive market also could be defined regionally (e.g., North America) or by country. Each subdivision, whether by product or geographic area, defines a new market within the automotive industry. The process for identifying a target market involves a three-step procedure. The first step entails establishing evaluation criteria used to distinguish the market to be targeted by the firm from other potential target markets. This requires the management of the firm
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern