Segmentation & Opportunity Analysis DB

I believe it is of utmost importance for companies to

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Unformatted text preview: g 7 of 30 5/22/13 10:13 AM Collection customer needs, another firm likely would enter the market with a product that serves a specific group, and the incumbent firms would lose those customers (Market Segmentation, n.d). Companies invest money in marketing to show their customers that they understand and want to satisfy their needs better than the competition. I believe it is of utmost importance for companies to understand that customers have different needs and that it is almost impossible, if not impossible, to satisfy all customers by treating them or advertising to them the same way. References Market Segmentation. (n.d.). NetMBA Business Knowledge Center. Retrieved March 10, 2013, fromå (Post is Read) Thread: Post: Author: Segmentation & Opportunity Analysis RE: Segmentation & Opportunity Analysis Claudia Sasso Posted Date: Status: March 9, 2013 3:18 PM Published Hi Shane, I agree with your view that marketing is a successful tool that companies can utilize in their marketing process. In fact, experts argue “with new competing products coming to the market daily in many product categories, the key to business success often boils down to effective market segmentation. Since business and consumers have multiple choices to meet very specific needs, starting entrepreneurs and established businesses would benefit enormously from investing in market segmentation research” (Mora, 2010). It is of utmost importance for businesses to group their customers in homogenous groups (segmentation) in order to meet their customers’ needs to the best of their abilities. I believe market segmentation will place businesses at a competitive advantage against others that just market in general without targeting or separating different customer needs into groups. References Mora, M. (2010, December 31). Market Segmentation Is Key To Success. Relevant Insights Custom Market Research « . Retrieved March 9, 2013, from /mark...
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This note was uploaded on 02/08/2014 for the course BUS 504 taught by Professor Robinchase during the Fall '12 term at Post.

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